Quantum Corporation (NYSE:QTM) issued an update on its second quarter earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of 0.01-0.05 for the period, compared to the Thomson Reuters consensus estimate of $0.20. The company issued revenue guidance of $120-125 million, compared to the consensus revenue estimate of $137.50 million.
Shares of Quantum Corporation (QTM) traded down 2.14% during midday trading on Friday, reaching $5.04. 364,376 shares of the company’s stock traded hands. The firm’s 50-day moving average price is $7.58 and its 200 day moving average price is $5.15. Quantum Corporation has a 1-year low of $0.58 and a 1-year high of $9.20. The stock has a market capitalization of $173.74 million, a P/E ratio of 48.93 and a beta of 2.34.
Quantum Corporation (NYSE:QTM) last announced its quarterly earnings data on Wednesday, August 9th. The technology company reported ($0.01) EPS for the quarter, missing the Zacks’ consensus estimate of $0.01 by $0.02. Quantum Corporation had a net margin of 0.64% and a negative return on equity of 7.26%. The firm had revenue of $116.86 million during the quarter, compared to analysts’ expectations of $119.40 million. Quantum Corporation’s revenue was up .5% on a year-over-year basis. On average, equities analysts predict that Quantum Corporation will post $0.47 earnings per share for the current fiscal year.
Several research analysts have recently issued reports on the stock. Zacks Investment Research cut shares of Quantum Corporation from a strong-buy rating to a hold rating in a report on Wednesday, July 12th. BidaskClub upgraded shares of Quantum Corporation from a hold rating to a buy rating in a research note on Monday, July 31st. Finally, Lake Street Capital decreased their price target on shares of Quantum Corporation from $12.00 to $10.00 and set a buy rating for the company in a research note on Thursday, August 10th.
In other Quantum Corporation news, VP Shawn D. Hall sold 10,000 shares of the firm’s stock in a transaction dated Monday, July 3rd. The shares were sold at an average price of $7.82, for a total transaction of $78,200.00. Following the completion of the transaction, the vice president now directly owns 158,344 shares in the company, valued at approximately $1,238,250.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Fuad Ahmad sold 17,000 shares of the firm’s stock in a transaction dated Monday, July 17th. The shares were sold at an average price of $8.46, for a total transaction of $143,820.00. Following the transaction, the chief financial officer now owns 153,603 shares of the company’s stock, valued at $1,299,481.38. The disclosure for this sale can be found here. Insiders sold a total of 88,912 shares of company stock valued at $727,222 in the last 90 days. Company insiders own 8.55% of the company’s stock.
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An institutional investor recently raised its position in Quantum Corporation stock. The Manufacturers Life Insurance Company boosted its stake in Quantum Corporation (NYSE:QTM) by 1,582.7% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 24,348 shares of the technology company’s stock after buying an additional 22,901 shares during the period. The Manufacturers Life Insurance Company owned 0.07% of Quantum Corporation worth $190,000 at the end of the most recent quarter.
Quantum Corporation Company Profile
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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