Quantum Corp CEO James Lerner sold $89,592 worth of Investing.com stock.

James J. Lerner, President and CEO Quantum Corporation (NASDAQ: ) recently executed a sale of company stock, according to an SEC filing. Lerner sold 2,511 shares of Quantum Corporation common stock at a price of $35.68 on January 16, 2025, for a total transaction worth $89,592. The transaction comes amid high stock momentum, with QMCO shares up an impressive 323% in the past six months; Invest Pro Data.

The sale was made to cover tax withholding obligations related to the issuance of restricted stock units issued on January 1, 2024. Invest Pro Analysis indicates that the company is currently operating under high debt burden and poor financial health metrics. Following this transaction, Lerner directly owns 107,804 shares of Quantum Corp. Discover 12 more key insights about QMCO with an InvestingPro subscription.

In other recent news, Quantum Corporation has been at the center of several developments. The company NVIDIA (NASDAQ:) GPUDirect Storage® experienced a significant increase in its stock following the announcement of a new parallel file system client for its Quantum Myriad all-flash file system. This development is expected to improve AI/ML infrastructure, providing organizations with a highly parallel file system client that can be deployed on the fly and is compatible across platforms.

But the quantum computing sector, including Quantum Corporation, has experienced a sharp sell-off due to valuation concerns. Citron Research, an activist short seller targeting Quantum Corp., highlighted the disparity in R&D spending among small-cap quantum companies, raising doubts about the sustainability of current valuations.

In parallel, Quantum Corporation announced the general availability of the Scalar i7 RAPTOR, a new high-density tape storage system designed to meet the needs of AI and cloud storage. This system offers up to 200% higher storage density than traditional enterprise tape libraries and is available for purchase now.

In addition, Quantum Corp. reported mixed Q2 results, down 7% year-over-year to a total of $70.5 million, and adjusted its fiscal 2025 revenue outlook to $280 million. Analysts’ forecasts for Q3 are for adjusted net loss per share of negative $0.75, and expected Q3 revenue of approximately $72 million. Despite these projections, Quantum Corporation is optimistic about achieving positive cash flow in the latter half of 2025 and fiscal 2026. These are the latest developments of Quantum Corporation.

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