Brc Partners Opportunity Fund, Purchases 143,214 Shares of Quantum Corp (OTCMKTS:QMCO) Stock

Quantum Corp (OTCMKTS:QMCO) major shareholder Brc Partners Opportunity Fund, purchased 143,214 shares of Quantum stock in a transaction dated Wednesday, March 25th. The stock was acquired at an average cost of $2.88 per share, with a total value of $412,456.32. Large shareholders that own more than 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Brc Partners Opportunity Fund, also recently made the following trade(s):

  • On Tuesday, March 17th, Brc Partners Opportunity Fund, purchased 568,916 shares of Quantum stock. The stock was bought at an average price of $2.22 per share, with a total value of $1,262,993.52.
  • On Wednesday, March 11th, Brc Partners Opportunity Fund, bought 1,114,408 shares of Quantum stock. The stock was bought at an average cost of $3.41 per share, for a total transaction of $3,800,131.28.

QMCO stock traded up $0.28 during mid-day trading on Thursday, hitting $3.16. The stock had a trading volume of 46,935 shares, compared to its average volume of 323,992. The company has a fifty day moving average of $4.70 and a 200 day moving average of $5.91. Quantum Corp has a 1-year low of $1.26 and a 1-year high of $8.52.

Quantum (OTCMKTS:QMCO) last posted its earnings results on Wednesday, January 29th. The company reported $0.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.07 by $0.03. The business had revenue of $103.32 million for the quarter, compared to analyst estimates of $109.10 million. Quantum had a negative net margin of 2.58% and a negative return on equity of 1.24%. As a group, research analysts expect that Quantum Corp will post -0.05 EPS for the current year.

A number of analysts have issued reports on QMCO shares. ValuEngine lowered Quantum from a “sell” rating to a “strong sell” rating in a research note on Tuesday, December 3rd. B. Riley dropped their price target on Quantum from $9.25 to $6.25 and set a “buy” rating on the stock in a research report on Wednesday, March 18th. Finally, Zacks Investment Research lowered shares of Quantum from a “hold” rating to a “sell” rating in a research report on Wednesday, March 11th. Two investment analysts have rated the stock with a sell rating and three have issued a buy rating to the stock. Quantum has a consensus rating of “Hold” and an average target price of $6.83.

An institutional investor recently bought a new position in Quantum stock. King Luther Capital Management Corp bought a new stake in Quantum Corp (OTCMKTS:QMCO) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 110,000 shares of the company’s stock, valued at approximately $816,000. King Luther Capital Management Corp owned 0.28% of Quantum as of its most recent filing with the Securities and Exchange Commission. 0.54% of the stock is owned by institutional investors.

About Quantum

Quantum Corporation provides scale-out storage, archive, and data protection solutions for small businesses and multi-national enterprises in the Americas, Europe, and the Asia Pacific. The company offers StorNext 5 software and hardware that offer file sharing and archiving in purpose-built configurations of metadata controllers, expansion appliances, and disk and archive enabled libraries; Xcellis product, which optimizes workflow and shared access by combining functions into a compact, space, and energy-saving solution; and Lattus Object Storage solutions that enable high volumes of data to be available to extract valuable information.

Further Reading: Green Investing

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