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

Quantum (NASDAQ:QMCO) had its target price boosted by Lake Street Capital from $5.00 to $20.00 in a research report sent to investors on Wednesday morning,Benzinga reports. The firm currently has a hold rating on the stock.

Separately, Northland Securities reaffirmed a “market perform” rating and issued a $5.00 price target (up previously from $0.25) on shares of Quantum in a report on Thursday, November 14th.

Quantum Stock Performance

Shares of QMCO opened at $22.40 on Wednesday. Quantum has a fifty-two week low of $2.22 and a fifty-two week high of $90.64. The company’s fifty day moving average is $32.41 and its 200 day moving average is $14.33.

Insiders Place Their Bets

In other news, SVP Brian E. Cabrera sold 1,996 shares of the stock in a transaction that occurred on Thursday, January 16th. The stock was sold at an average price of $35.68, for a total value of $71,217.28. Following the sale, the senior vice president now directly owns 27,940 shares in the company, valued at approximately $996,899.20. This represents a 6.67 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO James J. Lerner sold 6,505 shares of the business’s stock in a transaction on Friday, November 8th. The shares were sold at an average price of $4.43, for a total value of $28,817.15. Following the transaction, the chief executive officer now owns 107,491 shares of the company’s stock, valued at approximately $476,185.13. The trade was a 5.71 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 22,490 shares of company stock valued at $316,162 over the last three months. 3.90% of the stock is owned by company insiders.

Institutional Investors Weigh In On Quantum

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Arkadios Wealth Advisors purchased a new position in shares of Quantum during the fourth quarter worth approximately $466,000. Flagship Harbor Advisors LLC purchased a new position in Quantum during the 4th quarter worth $226,000. Finally, UNICOM Systems Inc. purchased a new stake in shares of Quantum in the 4th quarter worth $4,057,000. Institutional investors own 63.66% of the company’s stock.

Quantum Company Profile

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.