Kenneth P. Gianella, Chief Financial Officer of Quantum Corp (NASDAQ:QMCO), recently sold 1,279 shares of the company’s common stock. The sale, executed on February 3, 2025, was made at an average price of $21.529 per share, totaling approximately $27,535. The stock has shown remarkable momentum, with a 237% price return over the past six months, according to InvestingPro data. Following this transaction, Gianella retains ownership of 32,402 shares in the company. The shares were sold to cover tax withholding obligations related to the vesting of restricted stock units. With a market capitalization of $102.3 million and current trading price of $21.17, InvestingPro analysis indicates the stock is slightly undervalued. InvestingPro subscribers have access to 13 additional key insights about Quantum Corp, including detailed financial health metrics and future growth projections.
In other recent news, Quantum Corporation has made several notable advancements. The company experienced a 140% surge in share value following the announcement of a new parallel file system client for Quantum Myriad, their all-flash file system. This development, optimized for GPU-intensive tasks, aims to enhance NVIDIA (NASDAQ:NVDA) GPUDirect Storage® capabilities and is set to be available for evaluation in Q1 2025, with general availability expected in the latter half of the same year.
In addition, Quantum Corporation unveiled the Scalar i7 RAPTOR, a high-density tape storage system designed for AI and cloud storage. The system offers up to 200% higher storage density than traditional tape libraries, providing over 36 petabytes of storage using LTO-9 tapes.
Meanwhile, Rigetti Computing and other quantum computing stocks saw fluctuations following NVIDIA’s Quantum Day announcement and valuation concerns raised by Citron Research. These developments highlight the dynamic nature of the quantum computing sector.
On the downside, Rigetti Computing, along with other quantum computing stocks, experienced a significant sell-off due to investor skepticism about the sustainability of soaring valuations in the sector. This was further fueled by Citron Research’s critique of the industry’s financials, particularly highlighting Quantum Computing Inc’s R&D spending disparities.
Despite these challenges, the market’s response to NVIDIA’s Quantum Day and the advancements in Quantum Corporation’s products reflect a broader anticipation for the impact of quantum computing on accelerated computing.
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