Quantum (NASDAQ:QMCO) Price Target Raised to $20.00

Shares of Quantum (NASDAQ:QMCO) have seen a significant reassessment from analysts at Lake Street Capital, who raised their price target from $5.00 to $20.00 in a recent research note issued on Wednesday. This increase reflects a shift in outlook for the stock, which currently holds a "hold" rating from the brokerage firm. According to the new price target, the stock could experience a downside of approximately 10.91% compared to its last closing price.

In a separate development, Northland Securities also reaffirmed its stance on Quantum, maintaining a "market perform" rating while raising its price target to $5.00, up from an earlier estimate of $0.25. This duality of rating from different brokers indicates varying levels of confidence in Quantum’s market performance.

Market Activity and Stock Performance

On the trading day following the report, shares of Quantum saw a notable decline, dropping by $2.55 to reach a price of $22.45. The trading volume for Quantum was notably lower than average, with only 1,054,284 shares exchanged compared to its typical volume of 1,848,796. Over the past year, Quantum's stock has seen a range of performance, with a low of $2.22 and a high of $90.64. The stock's 50-day moving average stands at $31.39, while the 200-day moving average is $14.13, both indicators of its recent performance trends.

Insider Transactions

In related news, there have been some significant insider transactions within Quantum. CFO Kenneth P. Gianella sold 1,487 shares of the company's stock for an average price of $35.68. This sale resulted in a total transaction value of $53,056.16. Following this transaction, Gianella retains ownership of 33,681 shares, which are now valued at approximately $1,201,738.08, indicating a decrease of 4.23% in their ownership.

Additionally, CEO James J. Lerner sold 2,511 shares at the same average price of $35.68, resulting in a total of $89,592.48 from the transaction. After this sale, Lerner holds 107,804 shares, valued at $3,846,446.72, reflecting a 2.28% decrease in their stake. Over the past quarter, insiders have sold a total of 22,490 shares worth $316,162, and company insiders now own about 3.90% of the company's stock.

Institutional Investor Movements

Institutional investors have also been active with their holdings in Quantum. In the fourth quarter, Flagship Harbor Advisors LLC acquired a new stake valued at around $226,000. Meanwhile, Arkadios Wealth Advisors also added a new position, this time valued at $466,000. Finally, UNICOM Systems Inc. made a significant investment by purchasing a stake worth $4,057,000. Currently, institutional investors and hedge funds own approximately 63.66% of Quantum's stock, showcasing a strong interest from larger investment entities.

About Quantum

Quantum Corporation is engaged in providing specialized products aimed at storing and managing digital video and unstructured data across various regions including the Americas, Europe, the Middle East, Africa, and the Asia Pacific. The offerings include high-performance data management software tailored for applications in artificial intelligence, machine learning, and data analytics, among other areas.

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