Short Interest in Quantum Co. (NASDAQ:QMCO) Expands By 57.7%

Quantum Co. (NASDAQ:QMCO) saw a large growth in short interest in September. As of September 15th, there was short interest totalling 215,800 shares, a growth of 57.7% from the August 31st total of 136,800 shares. Based on an average daily volume of 40,300 shares, the short-interest ratio is presently 5.4 days. Currently, 5.2% of the company’s stock are short sold.

Institutional Investors Weigh In On Quantum

A hedge fund recently bought a new stake in Quantum stock. Tidal Investments LLC bought a new stake in Quantum Co. (NASDAQ:QMCO) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 44,165 shares of the company’s stock, valued at approximately $26,000. 63.66% of the stock is owned by hedge funds and other institutional investors.

Quantum Stock Performance

Shares of QMCO traded down $0.05 during midday trading on Thursday, hitting $3.26. The company had a trading volume of 24,175 shares, compared to its average volume of 28,641. Quantum has a 1 year low of $2.22 and a 1 year high of $18.00. The firm has a market capitalization of $15.62 million, a P/E ratio of -7.95 and a beta of 2.79. The company’s 50-day simple moving average is $1.59 and its 200-day simple moving average is $0.87.

Quantum (NASDAQ:QMCO) last released its quarterly earnings data on Tuesday, August 13th. The company reported ($2.00) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.60) by ($1.40). The firm had revenue of $71.34 million during the quarter, compared to analyst estimates of $72.00 million. Equities analysts predict that Quantum will post -3.4 earnings per share for the current fiscal year.

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.