Market cap of Quantum Corp [QMCO] reaches 64.83M – now what?

Quantum Corp [NASDAQ: QMCO] jumped around 0.19 points on Wednesday, while shares priced at $0.68 at the close of the session, up 40.23%. The company report on February 14, 2024 at 4:10 PM that Quantum Announces Delayed Form 10-Q Filing for Quarter Ending December 31, 2023.

Quantum Corporation (NASDAQ: QMCO) (“Quantum or the “Company”) announced today that it has filed a Form 12b-25 Notification of Late Filing for the quarter ended December 31, 2023 (the “Form 10-Q”) by February 9, 2024, the original due date for such filing.

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As previously disclosed, the Company is in the process of re-evaluating its application of Standalone Selling Price as part of Accounting Standards Codification (ASC) Topic 606 that has resulted in the delayed filing of both its second fiscal quarter and third fiscal quarter results. The Company is targeting to finish its initial assessment, determination of materiality, and completion of the re-evaluation no later than March 31, 2024.

Compared to the average trading volume of 413.78K shares, QMCO reached a trading volume of 9868517 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say about Quantum Corp [QMCO]?

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for QMCO shares is $1.50 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on QMCO stock is a recommendation set at 3.00. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Oppenheimer have made an estimate for Quantum Corp shares, keeping their opinion on the stock as Perform, with their previous recommendation back on February 10, 2022.

The Average True Range (ATR) for Quantum Corp is set at 0.07, with the Price to Sales ratio for QMCO stock in the period of the last 12 months amounting to 0.16.

How has QMCO stock performed recently?

Quantum Corp [QMCO] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 82.77. With this latest performance, QMCO shares gained by 143.61% in over the last four-week period, additionally plugging by 7.25% over the last 6 months – not to mention a drop of -54.53% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for QMCO stock in for the last two-week period is set at 85.97, with the RSI for the last a single of trading hit 91.89, and the three-weeks RSI is set at 79.53 for Quantum Corp [QMCO]. The present Moving Average for the last 50 days of trading for this stock 0.3415, while it was recorded at 0.4984 for the last single week of trading, and 0.6744 for the last 200 days.

Quantum Corp [QMCO]: Deeper insight into the fundamentals

Quantum Corp’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.73 and a Current Ratio set at 1.05.

Earnings analysis for Quantum Corp [QMCO]

With the latest financial reports released by the company, Quantum Corp posted -0.01/share EPS, while the average EPS was predicted by analysts to be reported at -0.02/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 50.00%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for QMCO. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Quantum Corp go to 20.00%.

Insider trade positions for Quantum Corp [QMCO]

The top three institutional holders of QMCO stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in QMCO stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in QMCO stock with ownership which is approximately 5.8325%.