In recent transactions disclosed by Quantum Corp (NASDAQ:QMCO), Brian E. Cabrera, the Senior Vice President, Chief Administrative Officer, and Secretary, sold shares of the company’s common stock totaling $72,512. The sales occurred in two separate transactions.
On November 8, 2024, Cabrera sold 291 shares at a price of $4.45 each. This transaction was part of an automatic sale to cover tax withholding obligations related to 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 similarly executed to cover tax withholding obligations from restricted stock units vested on January 1, 2024.
Following these transactions, Cabrera holds 27,940 shares of Quantum Corp. The company currently operates with a weak financial health score according to InvestingPro metrics, with significant debt burden being a key concern.
In other recent news, Rigetti Computing saw a rise in its shares following NVIDIA (NASDAQ:NVDA)'s Quantum Day announcement, sparking excitement in the quantum computing sector. However, the company's shares later fell amid investor concerns about soaring valuations in the quantum computing sector. This shift in sentiment was highlighted by Citron Research's critical commentary on the industry and Quantum Computing Inc's financials. Despite this, Quantum Corporation experienced a significant increase in its shares following the announcement of a new parallel file system client for its Quantum Myriad all-flash file system, designed to enhance NVIDIA GPUDirect Storage® capabilities.
In other developments, Quantum Corporation also introduced 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 showed a 7% decrease in year-over-year revenue, totaling $70.5 million, and an adjusted FY 2025 revenue outlook of $280 million. These are the recent developments for Rigetti Computing and Quantum Corporation.
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