Quantum Co. (NASDAQ:QMCO) Short Interest Up 215.8% in November

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

Analyst Ratings Changes

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

Quantum Price Performance

Shares of Quantum stock traded down $2.61 during trading on Thursday, hitting $17.00. 1,252,709 shares of the company’s stock traded hands, compared to its average volume of 515,472. Quantum has a twelve month low of $2.22 and a twelve month high of $33.00. The firm’s fifty day moving average price is $7.38 and its 200 day moving average price is $6.86.

Insider Activity

In related news, CEO James J. Lerner sold 6,505 shares of the business’s stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $4.43, for a total transaction of $28,817.15. Following the transaction, the chief executive officer now directly owns 107,491 shares in the company, valued at $476,185.13. The trade was a 5.71 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Over the last 90 days, insiders sold 15,561 shares of company stock valued at $68,935. Insiders own 3.90% of the company’s stock.

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.