Henk Jan Spanjaard, Chief Revenue Officer Quantum Corp (NASDAQ: ), recently sold part of its stake in the company. According to a recent filing with the SEC, Spanjaard sold 935 shares of Quantum Corp common stock on January 16, 2025. The shares were sold at $35.68 each, for a total of approximately $33,360. The transaction comes as Quantum shares have shown remarkable momentum, returning 462% over the past year and jumping 323% over the past six months, according to InvestingPro data.
The transaction was completed to cover withholding tax obligations associated with the acquisition of restricted stock units granted to Spanjaard on January 1, 2024. Following this sale, Spanjaard retains ownership of 14,903 shares in the company. InvestingPro analysis shows that Quantum Corp is currently trading below its fair value, with 13 additional ProTips available to subscribers, including insights into the company’s financial health and growth prospects. Investors can access comprehensive analysis through InvestingPro’s detailed research report, available for over 1,400 US stocks.
In other recent news, Quantum Corporation announced a significant advance in the field of quantum computing. The company saw its stock price jump after introducing a new parallel file system client for its Quantum Myriad all-flash file system, designed to enhance NVIDIA’s (NASDAQ: ) GPUDirect Storage ® capabilities. This development is expected to improve the AI/ML infrastructure and offer a solution for GPU-intensive tasks such as AI/ML model training and inference, high-performance computer visualization and video rendering.
At the same time, Quantum Corporation introduced a high-density tape storage system, the Scalar i7 RAPTOR, targeting the needs of AI and cloud storage. This system boasts a storage density that is claimed to be up to 200% higher than traditional enterprise tape libraries, providing more than 36 petabytes of storage using LTO-9 tapes.
However, the company also faced a significant sell-off, with its share price down 39%. The decline was attributed to investor concerns over the quantum computing sector’s soaring valuations and criticism from activist short seller Citron Research. The company also reported a 7% year-over-year decline in revenue, totaling $70.5 million, but managed to roughly cover adjusted EBITDA.
Despite these challenges, Quantum Corporation remains optimistic, with the company adjusting its fiscal 2025 revenue outlook to $280 million and adjusted EBITDA expected to be $3 million. These recent developments reflect Quantum Corporation’s ongoing commitment to innovation and growth in the quantum computing sector.
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