Quantum Co. (NASDAQ:QMCO) Short Interest Up 37.4% in January

Quantum Co. (NASDAQ:QMCO) was the recipient of a significant increase in short interest during the month of January. As of January 15th, there was short interest totalling 1,200,000 shares, an increase of 37.4% from the December 31st total of 873,300 shares. Currently, 32.3% of the shares of the stock are short sold. Based on an average daily trading volume, of 3,020,000 shares, the short-interest ratio is presently 0.4 days.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on QMCO. Northland Securities raised their target price on shares of Quantum from $5.00 to $18.00 and gave the company a “market perform” rating in a report on Thursday. Lake Street Capital lifted their price target on Quantum from $5.00 to $20.00 and gave the stock a “hold” rating in a research report on Wednesday.

Insider Activity

In other news, SVP Brian E. Cabrera sold 1,996 shares of Quantum stock in a transaction dated 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 of the company’s stock, valued at approximately $996,899.20. The trade was a 6.67 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO James J. Lerner sold 6,505 shares of the stock in a transaction that occurred 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 directly owns 107,491 shares of the company’s stock, valued at approximately $476,185.13. The trade was a 5.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 22,490 shares of company stock worth $316,162 over the last quarter. Insiders own 3.90% of the company’s stock.

Hedge Funds Weigh In On Quantum

Several institutional investors have recently made changes to their positions in the company. UNICOM Systems Inc. purchased a new stake in Quantum during the 4th quarter worth approximately $4,057,000. Arkadios Wealth Advisors purchased a new stake in Quantum in the 4th quarter worth $466,000. Finally, Flagship Harbor Advisors LLC acquired a new position in shares of Quantum during the 4th quarter worth about $226,000. Hedge funds and other institutional investors own 63.66% of the company’s stock.

Quantum Price Performance

Shares of NASDAQ QMCO opened at $22.40 on Friday. The firm has a 50-day simple moving average of $32.41 and a two-hundred day simple moving average of $14.33. Quantum has a 1 year low of $2.22 and a 1 year high of $90.64.

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.