Business

Stock News Buzz: Quantum Corporation (NASDAQ:QMCO)

Quantum Corporation (NASDAQ:QMCO) changed -1.33% to recent value of $2.22. The stock transacted 428770 shares during most recent day however it has an average volume of 279.95K shares. It spotted trading -73.94% off 52-week high price. On the other end, the stock has been noted 1.83% away from the low price over the last 52-weeks.

On March 17, 2020, Quantum Corporation (NASDAQ:QMCO) notified it has completed its acquisition of the ActiveScale™ object storage business from Western Digital Technologies, a subsidiary of Western Digital Corp. (NASDAQ: WDC). The acquisition expands Quantum’s leadership role in storing and managing video and other unstructured data using a software-defined approach.

Jamie Lerner, President and CEO, Quantum commented, The strategic acquisition of ActiveScale bolsters our existing product portfolio and expands our addressable market providing critical software capabilities that enhance our go to market strategy with minimal risk to Quantum. With engineers who developed ActiveScale’s erasure-coded object store software now on our team, we are in a position to pursue new object solutions truly optimized for managing video and other unstructured data.

The ActiveScale product line adds object storage software and erasure coding technology to Quantum’s portfolio, enabling the company to expand its product offerings in the object storage market. Object storage has emerged as a potent response to the exponential growth of video and other forms of unstructured data. This content requires high-speed capture and processing (typically done with a file system like Quantum’s StorNext® solution), then is often retained for years or decades. Examples of this unstructured data include video and images for entertainment, surveillance and security, marketing and training, and more. Prior to this acquisition Quantum has successfully delivered and supported the ActiveScale object storage product line for over five years.

QMCO has a gross margin of 42.80%. Its earnings per share (EPS) expected to touch remained -549.40% for this year while earning per share for the next 5-years is expected to reach at 20.00%.

The company has 50.71M of outstanding shares and 37.33M shares were floated in the market. According to the most recent quarter its current ratio was 0.9 that represents company’s ability to meet its current financial obligations. The price moved ahead of -52.19% from the mean of 20 days, -63.75% from mean of 50 days SMA and performed -57.95% from mean of 200 days price. Company’s performance for the week was -40.80%, -61.99% for month and YTD performance remained -70.08%.

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