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Laura A. Nash, the Chief Accounting Officer of Quantum Corporation (NASDAQ:QMCO), recently sold 136 shares of the company’s common stock. The sale, which took place on April 2, 2025, was executed at a weighted average price of $12.85 per share, resulting in a total transaction value of approximately $1,747. The stock, currently trading at $11.35, has experienced significant volatility, dropping 12% in the past week. InvestingPro analysis indicates the stock is currently undervalued, with 13 key insights available to subscribers.
According to the filing, these shares were automatically sold to cover tax withholding obligations related to the vesting of restricted stock units granted in April 2024. Following this transaction, Nash holds 11,652 shares directly. The shares were sold as part of block trades at prices ranging from $12.81 to $12.90. The micro-cap company, with a market value of $66 million, has shown mixed performance with a remarkable 258% gain over the past six months despite recent volatility.
In other recent news, Quantum Computing Inc. reported fourth-quarter 2024 financial results that did not meet analyst expectations, with revenue of $62,000 falling short of the projected $400,000. The company’s adjusted earnings per share were -$0.47, missing the anticipated -$0.08. Despite these misses, Quantum Computing Inc. noted an improvement in gross margin to 55% from 13% the previous year, attributing this to reduced costs of goods sold. The company also reported a net loss of $51.2 million for the quarter, primarily due to non-cash charges related to warrant accounting. On the other hand, Quantum Corporation announced significant leadership changes, including appointing Lewis (JO:LEWJ) W. Moorehead as the new Chief Financial Officer, succeeding Ken Gianella, who will stay in an advisory role until the annual SEC filing. Additionally, Dialectic Capital Management acquired Quantum Corporation’s $51 million outstanding term debt from Blue Torch Capital, with John Fichthorn rejoining Quantum’s Board of Directors. Furthermore, Quantum Corporation reported the resignation of board member Christopher D. Neumeyer, with no disagreements cited regarding company operations. These developments highlight Quantum Corporation’s strategic efforts to enhance financial and operational agility.
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