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Shares Trading down at $0.770 Quantum to Present at the Needham…

October 29, 2016 By Ted Blackburn

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Quantum Corporation Common Stoc (NYSE:QTM):

Quantum to Present at the Needham Next-Gen Storage/Networking Conference.

The company is trading down by -9.84 percent from yesterday’s close.

Company chares are trading at $0.770 which is just a bit higher than the 50 day moving average of $0.77 and a tad above the 200 day moving average of $0.57. The 50 day moving average went up by -0.14% and the 200 day average moved up $0.20.

In the last earnings report the EPS was $-0.20 and is estimated to be $0.04 for the current year with 270,432,000 shares now outstanding. Next quarter’s EPS is expected be $0.01 with next year’s EPS anticipated to be $0.05.

Brokerage analysts have issued ratings on QTM recently. Roth Capital initiated coverage on the stock by announcing an initial rating of “Buy” and a price target of $1.50. Equity analyst Northland Securities raised the price target and upgraded the stock on May 4 changing the price objective from $1.50 to $3.00 and changing the rating from “Market Perform” to “Outperform”.

On May 4 the company was upgraded to “Outperform” from “Market Perform” with a current price target of $3.00 in a report from Northland Securities. On June 30, 2014 the stock rating was changed to a “Buy” according to a Lakestreet Capital report which is up from the previous “Hold” rating.

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