Quantum-Si (NASDAQ:QSI) Trading 1.3% Higher – Should You Buy?

Quantum-Si incorporated (NASDAQ:QSI) shares shot up 1.3% during mid-day trading on Thursday . The stock traded as high as $2.63 and last traded at $2.38. 21,004,089 shares traded hands during trading, a decline of 66% from the average session volume of 61,744,461 shares. The stock had previously closed at $2.35.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on QSI shares. HC Wainwright restated a “buy” rating and issued a $5.50 target price on shares of Quantum-Si in a report on Tuesday. Canaccord Genuity Group reduced their price target on shares of Quantum-Si from $1.50 to $1.00 and set a “hold” rating on the stock in a research report on Wednesday, November 13th.

Quantum-Si Price Performance

The company has a 50 day moving average of $1.78 and a two-hundred day moving average of $1.22. The company has a market capitalization of $363.20 million, a PE ratio of -4.00 and a beta of 2.74.

Insider Transactions at Quantum-Si

In other news, Director Jonathan M. Rothberg sold 3,506,267 shares of Quantum-Si stock in a transaction that occurred on Friday, December 27th. The shares were sold at an average price of $3.34, for a total transaction of $11,710,931.78. Following the completion of the transaction, the director now directly owns 1,250,000 shares in the company, valued at approximately $4,175,000. This trade represents a 73.72 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 30.04% of the company’s stock.

Institutional Trading of Quantum-Si

Several hedge funds and other institutional investors have recently made changes to their positions in QSI. Bank of New York Mellon Corp boosted its holdings in Quantum-Si by 3.5% in the second quarter. Bank of New York Mellon Corp now owns 322,460 shares of the company’s stock worth $339,000 after acquiring an additional 10,811 shares in the last quarter. XTX Topco Ltd purchased a new position in shares of Quantum-Si in the 2nd quarter worth about $25,000. SG Americas Securities LLC bought a new position in Quantum-Si in the 3rd quarter worth about $53,000. Green Alpha Advisors LLC grew its position in Quantum-Si by 35.4% during 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 last quarter. Finally, Barclays PLC increased its stake in Quantum-Si by 210.5% during the 3rd quarter. Barclays PLC now owns 196,826 shares of the company’s stock valued at $173,000 after purchasing an additional 133,438 shares in the last quarter. Hedge funds and other institutional investors own 39.90% of the company’s stock.

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.