Oppenheimer Reaffirms Market Perform Rating for Quantum (NASDAQ:QMCO)

Quantum (NASDAQ:QMCO)‘s stock had its “market perform” rating restated by investment analysts at Oppenheimer in a research report issued to clients and investors on Wednesday, Benzinga reports.

Quantum Price Performance

Shares of QMCO stock traded up $0.00 during trading hours on Wednesday, reaching $0.41. 86,332 shares of the company traded hands, compared to its average volume of 461,432. Quantum has a 12-month low of $0.24 and a 12-month high of $1.32. The company has a market cap of $38.97 million, a P/E ratio of -1.01 and a beta of 2.55. The firm has a 50-day moving average price of $0.53 and a 200 day moving average price of $0.44.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in QMCO. Vanguard Group Inc. lifted its holdings in Quantum by 40.8% in the 3rd quarter. Vanguard Group Inc. now owns 3,958,849 shares of the company’s stock worth $4,276,000 after purchasing an additional 1,148,156 shares in the last quarter. Millennium Management LLC purchased a new position in Quantum in the 2nd quarter worth approximately $1,331,000. Walleye Capital LLC purchased a new position in Quantum in the 1st quarter worth approximately $912,000. Jacobs Levy Equity Management Inc. lifted its holdings in Quantum by 342.8% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 442,969 shares of the company’s stock worth $478,000 after purchasing an additional 342,938 shares in the last quarter. Finally, Goldman Sachs Group Inc. lifted its holdings in Quantum by 180.0% in the 2nd quarter. Goldman Sachs Group Inc. now owns 509,785 shares of the company’s stock worth $724,000 after purchasing an additional 327,739 shares in the last quarter. 63.66% of the stock is owned by hedge funds and other institutional investors.

About Quantum

Quantum Corporation provides products for storing and managing digital video and unstructured data in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. The company offers Myriad All-Flash File and Object Storage Software for high performance enterprise unstructured data applications such as AI, machine learning, and data analytics; Unified Surveillance Platform Software that unified compute and storage for video surveillance recording, storage, and analytics; StorNext Hybrid Flash/Disk File Storage Software for video editing, post-production, and streaming applications, as well as digital file archives; and CatDV Asset Management Software for indexing, cataloging, enriching video, audio, and image files, and workflow orchestration.