Quantum (NASDAQ:QMCO) Price Target Raised to $18.00 at Northland Securities

Quantum (NASDAQ:QMCO) had its price target lifted by analysts at Northland Securities from $5.00 to $18.00 in a report issued on Thursday,Benzinga reports. The brokerage currently has a “market perform” rating on the stock. Northland Securities’ price target would indicate a potential downside of 19.82% from the company’s previous close.

Separately, Lake Street Capital lifted their price objective on shares of Quantum from $5.00 to $20.00 and gave the stock a “hold” rating in a report on Wednesday.

Quantum Stock Down 10.2 %

NASDAQ QMCO opened at $22.45 on Thursday. Quantum has a 52-week low of $2.22 and a 52-week high of $90.64. The company has a fifty day moving average of $31.78 and a 200-day moving average of $14.18.

Insiders Place Their Bets

In other Quantum news, CFO Kenneth P. Gianella sold 1,487 shares of the business’s stock in a transaction dated Thursday, January 16th. The shares were sold at an average price of $35.68, for a total value of $53,056.16. Following the transaction, the chief financial officer now owns 33,681 shares in the company, valued at approximately $1,201,738.08. The trade was a 4.23 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO James J. Lerner sold 2,511 shares of the business’s stock in a transaction dated Thursday, January 16th. The shares were sold at an average price of $35.68, for a total transaction of $89,592.48. Following the completion of the transaction, the chief executive officer now owns 107,804 shares in the company, valued at $3,846,446.72. The trade was a 2.28 % 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. Insiders own 3.90% of the company’s stock.

Hedge Funds Weigh In On Quantum

A number of hedge funds have recently modified their holdings of QMCO. UNICOM Systems Inc. purchased a new position in shares of Quantum in the fourth quarter valued at about $4,057,000. Arkadios Wealth Advisors purchased a new position in shares of Quantum during the fourth quarter valued at about $466,000. Finally, Flagship Harbor Advisors LLC purchased a new position in shares of Quantum during the fourth quarter valued at about $226,000. Hedge funds and other institutional investors own 63.66% of the company’s stock.

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.