B.Riley FBR Maintains a Buy Rating on Quantum (QMCO)


B.Riley FBR analyst Craig Ellis maintained a Buy rating on Quantum (QMCO) today and set a price target of $7.00. The company’s shares closed last Wednesday at $4.58.

According to TipRanks.com, Ellis is a 3-star analyst with an average return of 1.4% and a 50.9% success rate. Ellis covers the Technology sector, focusing on stocks such as Sequans Communications S A, Axcelis Technologies, and Skyworks Solutions.

Currently, the analyst consensus on Quantum is a Moderate Buy with an average price target of $7.00.

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Based on Quantum’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $88.22 million and GAAP net loss of $3.84 million. In comparison, last year the company earned revenue of $103 million and had a GAAP net loss of $9.41 million.

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Quantum Corp. engages in the manufacture of computer storage device. It provides solutions for storing and protecting information in physical, virtual and cloud environments. The company was founded by Joel N. Harrison and James M. McCoy in 1980 and is headquartered in San Jose, CA.

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