Quantum (NASDAQ:QMCO) Shares Gap Up – Here’s Why

Shares of Quantum Co. (NASDAQ:QMCO) gapped up before the market opened on Thursday . The stock had previously closed at $5.03, but opened at $5.40. Quantum shares last traded at $5.57, with a volume of 13,847 shares traded.

Quantum Stock Down 6.2 %

The stock’s fifty day simple moving average is $3.65 and its two-hundred day simple moving average is $6.97.

Quantum (NASDAQ:QMCO) last issued its earnings results on Tuesday, August 13th. The company reported ($40.00) earnings per share for the quarter, missing the consensus estimate of ($12.00) by ($28.00). The company had revenue of $71.34 million during the quarter, compared to analyst estimates of $72.00 million. Equities research analysts expect that Quantum Co. will post -3.4 earnings per share for the current year.

Institutional Trading of Quantum

An institutional investor recently bought a new position in Quantum stock. Tidal Investments LLC acquired a new position in Quantum Co. (NASDAQ:QMCO) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 44,165 shares of the company’s stock, valued at approximately $26,000. 63.66% of the stock is currently owned by institutional investors and hedge funds.

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.