New York State Common Retirement Fund bought a new stake in shares of Quantum Corporation (NYSE:QTM) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 29,800 shares of the technology company’s stock, valued at approximately $233,000. New York State Common Retirement Fund owned approximately 0.09% of Quantum Corporation at the end of the most recent reporting period.
Other large investors have also recently bought and sold shares of the company. Royce & Associates LP purchased a new position in shares of Quantum Corporation during the 2nd quarter valued at approximately $102,000. Strs Ohio purchased a new stake in Quantum Corporation in the 2nd quarter worth $113,000. Rhumbline Advisers purchased a new stake in Quantum Corporation in the 2nd quarter worth $237,000. Teachers Advisors LLC purchased a new stake in Quantum Corporation in the 2nd quarter worth $391,000. Finally, Bank of New York Mellon Corp increased its holdings in Quantum Corporation by 3.2% in the 1st quarter. Bank of New York Mellon Corp now owns 609,341 shares of the technology company’s stock worth $529,000 after acquiring an additional 19,157 shares in the last quarter. 64.70% of the stock is owned by hedge funds and other institutional investors.
Several brokerages recently commented on QTM. BidaskClub raised shares of Quantum Corporation from a “hold” rating to a “buy” rating in a report on Monday, July 31st. Lake Street Capital cut their price target on shares of Quantum Corporation from $12.00 to $10.00 and set a “buy” rating for the company in a report on Thursday, August 10th. Finally, Zacks Investment Research lowered shares of Quantum Corporation from a “hold” rating to a “sell” rating in a report on Thursday, October 5th.
Shares of Quantum Corporation (QTM) opened at $4.85 on Thursday. The company has a debt-to-equity ratio of -0.57, a current ratio of 0.78 and a quick ratio of 0.56. Quantum Corporation has a 1-year low of $4.11 and a 1-year high of $9.20.
Quantum Corporation (NYSE:QTM) last issued its quarterly earnings results on Thursday, November 9th. The technology company reported ($0.14) EPS for the quarter, missing the consensus estimate of ($0.01) by ($0.13). The company had revenue of $107.10 million during the quarter, compared to analysts’ expectations of $122.20 million. Quantum Corporation had a negative return on equity of 7.26% and a negative net margin of 1.77%. Quantum Corporation’s revenue was down 20.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.02 EPS. sell-side analysts forecast that Quantum Corporation will post 0.09 EPS for the current fiscal year.
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Quantum Corporation 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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