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

James J. Lerner, President and CEO of Quantum Corp (NASDAQ:), recently made a sale of the company’s stock, according to a recent SEC filing. Lerner sold a total of 2,511 shares of Quantum Corp common stock on January 16, 2025, at a price of $35.68 per share, amounting to a total transaction value of $89,592. The move comes amid significant strength in the stock, with QMCO shares showing a staggering 323% gain over the past six months, according to InvestingPro data.

This sale is intended to cover the withholding tax obligations associated with the issuance of restricted stock issued on January 1, 2024. InvestingPro the analysis shows the company is currently operating with a heavy debt burden and weak financial health standards. Following this transaction, Lerner directly holds 107,804 shares of Quantum Corp. Find out 12 more important facts about QMCO with InvestingPro subscription.

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

However, the quantum computing sector, including the Quantum Corporation, has faced significant sales due to quality concerns. Citron Research, an activist short seller, has targeted Quantum Corporation, highlighting the disparity in R&D spending among smaller quantum companies, which has raised doubts about the sustainability of current rates.

Likewise, Quantum Corporation announced the general availability of the Scalar i7 RAPTOR, a new high-performance tape storage system designed to meet the growing needs of AI and cloud storage. This system offers a storage density that is said to be 200% higher than traditional commercial tape libraries and is now available for purchase.

Additionally, Quantum Corporation reported mixed Q2 results with a 7% decrease in annual revenue, totaling $70.5 million, and revised its FY 2025 revenue outlook to $280 million. Analysts estimate the adjusted net loss for Q3 at a negative $0.75, with expected Q3 revenue of about $72 million. Despite these estimates, Quantum Corporation still hopes to get good cash flow in the last half of FY 2025 and FY 2026. These are the latest updates of Quantum Corporation.

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