Quantum-Si (NASDAQ:QSI) Price Target Lowered to $1.00 at Canaccord Genuity Group

Quantum-Si (NASDAQ:QSI) had its target price cut by Canaccord Genuity Group from $1.50 to $1.00 in a report published on Wednesday morning,Benzinga reports. They currently have a hold rating on the stock.

Quantum-Si Stock Up 2.1 %

NASDAQ:QSI opened at $0.79 on Wednesday. The firm has a market capitalization of $112.65 million, a price-to-earnings ratio of -1.24 and a beta of 2.89. Quantum-Si has a twelve month low of $0.70 and a twelve month high of $2.43. The stock’s 50 day moving average price is $0.86 and its two-hundred day moving average price is $1.12.

Quantum-Si (NASDAQ:QSI) last issued its earnings results on Tuesday, November 12th. The company reported ($0.18) EPS for the quarter, topping the consensus estimate of ($0.21) by $0.03. Quantum-Si had a negative return on equity of 35.42% and a negative net margin of 3,968.84%. The company had revenue of $0.79 million during the quarter, compared to the consensus estimate of $1.06 million. As a group, analysts anticipate that Quantum-Si will post -0.71 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. boosted its stake in Quantum-Si by 1.6% in the 1st quarter. Vanguard Group Inc. now owns 5,300,685 shares of the company’s stock valued at $10,442,000 after purchasing an additional 82,463 shares during the period. Jacobs Levy Equity Management Inc. bought a new stake in Quantum-Si in the 1st quarter valued at $998,000. Bank of New York Mellon Corp boosted its stake in Quantum-Si by 3.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 322,460 shares of the company’s stock valued at $339,000 after purchasing an additional 10,811 shares during the period. Green Alpha Advisors LLC boosted its stake in Quantum-Si by 35.4% in the 3rd quarter. Green Alpha Advisors LLC now owns 175,055 shares of the company’s stock valued at $154,000 after purchasing an additional 45,796 shares during the period. Finally, SG Americas Securities LLC bought a new stake in Quantum-Si in the 3rd quarter valued at $53,000. 39.90% of the stock is currently owned by institutional investors.

Quantum-Si Company Profile

Quantum-Si incorporated, a life sciences company, engages in the development of single-molecule detection platform to enable Next Generation Protein Sequencing (NGPS). The company's platform is comprised of the Platinum NGPS instrument; the Platinum Analysis Software service; and reagent kits and semiconductor chips for use with its instruments.