CFO of Quantum Co. Sells Shares Amid Market Activity

On November 8th, Kenneth P. Gianella, the Chief Financial Officer of Quantum Co. (NASDAQ:QMCO), executed a transaction involving the sale of 2,590 shares of the company's stock. The shares were sold at an average price of $4.43, resulting in a total sale value of $11,473.70. As a result of this sale, Gianella now holds 33,910 shares in Quantum, which are valued at approximately $150,221.30. This transaction indicates a reduction of 7.10% in his total ownership of the company's stock.

Performance of Quantum Stock

On the day of Gianella's stock sale, Quantum Co. saw its shares open at $12.73. The stock has experienced significant fluctuations over the past year, having a low of $2.22 and a high of $33.00. The current 50-day moving average for the stock stands at $6.08, with the 200-day moving average at $6.63.

Recent Institutional Activities

In recent developments, an institutional investor—Tidal Investments LLC—acquired a new position in Quantum Co. during the first quarter, as disclosed in a Form 13F filing with the Securities and Exchange Commission (SEC). They purchased 44,165 shares of Quantum, which were valued at approximately $26,000. Overall, institutional investors and hedge funds currently control 63.66% of the company's shares, indicating a solid interest from larger financial entities.

Market Ratings and Research Updates

In terms of market outlook, Northland Securities has recently reaffirmed a "market perform" rating on Quantum's shares, increasing the target price from $0.25 to $5.00 in a research report published on November 14th. This adjustment reflects a more optimistic perspective on the stock's potential market performance.

About Quantum Corporation

Quantum Corporation specializes in providing solutions for storing and managing digital video and unstructured data across various regions including the Americas, Europe, and Asia-Pacific. Their products include high-performance storage software for enterprise applications focusing on artificial intelligence, machine learning, and data analytics, as well as tools for video surveillance and digital asset management.

Quantum, CFO, Stocks