In the recent transactions that he announced Quantum Corp (NASDAQ: ), Brian E. Cabrera, Senior Vice President, Chief Administrative Officer and Secretary, sold common shares of the company totaling $72,512. The sale took place in two separate transactions.
On November 8, 2024, Cabrera sold 291 shares at $4.45 each. This transaction was part of an automatic sale to cover the withholding tax liabilities associated with the vesting of restricted stock units granted on November 1, 2021 and November 1, 2022.
A subsequent transaction on January 16, 2025 involved the sale of 1,996 shares at $35.68 each. This sale was made on a like-for-like basis to cover withholding tax liabilities from restricted stock units vested on January 1, 2024.
After these transactions, Cabrera holds 27,940 shares of Quantum Corp. stock. The company currently operates with a weak financial health rating according to InvestingPro metrics, with the significant debt burden being a key concern.
In other recent news, Rigetti Computing saw its stock rise following the announcement of NVIDIA (NASDAQ: ) Quantum Day, sparking excitement in the quantum computing sector. However, the company’s shares later fell amid investor concerns over the quantum computing sector’s soaring valuations. This change in sentiment was highlighted by Citron Research’s critical commentary on the industry and financials of Quantum Computing Inc. Nevertheless, Quantum Corporation saw its stock rise significantly after announcing a new parallel file system client for its Quantum Myriad all-flash file system, designed to improve capabilities of NVIDIA GPUDirect Storage®.
In other developments, Quantum Corporation also unveiled a new GPU-optimized file system client for its Quantum Myriad all-flash file system. This client is expected to maximize GPU performance by allowing direct data transfers between storage and GPU memory. The company also unveiled the Scalar i7 RAPTOR, a high-density tape storage system aimed at meeting the growing needs of AI and cloud storage. Quantum Corporation’s recent financial results show a 7% year-over-year revenue decline to a total of $70.5 million, and an adjusted FY 2025 revenue forecast of $280 million. These are recent developments for Rigetti Computing and Quantum Corporation.
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