Quantum Co. (NASDAQ:QMCO) Sees Significant Growth in Short Interest

Quantum Co. (NASDAQ:QMCO) was the recipient of a significant increase in short interest during the month of November. As of November 30th, there was short interest totalling 693,500 shares, an increase of 215.8% from the November 15th total of 219,600 shares. Currently, 18.2% of the company’s shares are short sold. Based on an average daily volume of 1,740,000 shares, the short-interest ratio is presently 0.4 days.

Insider Buying and Selling

In other news, 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 completion of the sale, the chief executive officer now owns 107,491 shares of the company’s stock, valued at $476,185.13. This represents a 5.71 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Over the last ninety days, insiders sold 15,561 shares of company stock worth $68,935. Insiders own 3.90% of the company’s stock.

Quantum Stock Down 3.0 %

QMCO traded down $0.60 on Wednesday, hitting $19.61. The company had a trading volume of 4,476,546 shares, compared to its average volume of 512,590. The company’s fifty day moving average price is $7.06 and its 200 day moving average price is $6.77. Quantum has a 1 year low of $2.22 and a 1 year high of $33.00.

Analyst Ratings Changes

Separately, Northland Securities reiterated a “market perform” rating and issued a $5.00 price objective (up from $0.25) on shares of Quantum in a research report on Thursday, November 14th.

Quantum Company Profile

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.