Trade Report: Today, Quantum Corp. (QTM) Upgraded at Zacks Investment Research

Today, Quantum Corp. (QTM) Upgraded at Zacks Investment Research

Zacks Investment Research upgraded shares of Quantum Corp. (NYSE:QTM) from a hold rating to a buy rating in a research report released on Wednesday morning. The brokerage currently has $0.75 price objective on the stock.

According to Zacks, “Quantum is a leading expert in scale-out storage, archive and data protection, providing solutions for capturing, sharing and preserving digital assets over the entire data lifecycle. From small businesses to major enterprises, more than 100,000 customers have trusted Quantum to address their most demanding data workflow challenges. With Quantum, customers can be certain they have the end-to-end storage foundation to maximize the value of their data by making it accessible whenever and wherever needed, retaining it indefinitely and reducing total cost and complexity. “

Separately, Roth Capital started coverage on shares of Quantum Corp. in a report on Thursday, August 25th. They set a buy rating and a $1.50 target price for the company. One analyst has rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the stock. Quantum Corp. currently has a consensus rating of Hold and an average price target of $1.42.

Quantum Corp. (NYSE:QTM) opened at 0.7599 on Wednesday. Quantum Corp. has a one year low of $0.35 and a one year high of $1.05. The stock has a 50 day moving average price of $0.72 and a 200-day moving average price of $0.55. The firm’s market capitalization is $204.56 million.

A number of hedge funds have recently modified their holdings of QTM. Spark Investment Management LLC raised its position in Quantum Corp. by 212.0% in the first quarter. Spark Investment Management LLC now owns 523,800 shares of the company’s stock worth $319,000 after buying an additional 355,900 shares in the last quarter. Kennedy Capital Management Inc. raised its position in Quantum Corp. by 28.7% in the first quarter. Kennedy Capital Management Inc. now owns 972,841 shares of the company’s stock worth $593,000 after buying an additional 217,000 shares in the last quarter. Jacobs Levy Equity Management Inc. raised its position in Quantum Corp. by 76.7% in the first quarter. Jacobs Levy Equity Management Inc. now owns 1,087,263 shares of the company’s stock worth $663,000 after buying an additional 471,894 shares in the last quarter. Emerald Acquisition Ltd. purchased a new position in Quantum Corp. during the second quarter worth approximately $416,000. Finally, California Public Employees Retirement System raised its position in Quantum Corp. by 23.5% in the second quarter. California Public Employees Retirement System now owns 1,294,200 shares of the company’s stock worth $544,000 after buying an additional 246,300 shares in the last quarter. Hedge funds and other institutional investors own 50.49% of the company’s stock.

About Quantum Corp.

Quantum Corporation focuses on scale-out storage, archive and data protection, providing solutions for capturing, sharing, managing and preserving digital assets over the entire data lifecycle. The Company’s end-to-end tiered storage solutions enable users to maximize the value of their data by making it accessible whenever and wherever needed, retaining it indefinitely and reducing total cost and complexity.

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