Quantum-Si (NASDAQ:QSI) Trading 0.6% Higher – Should You Buy?

Quantum-Si incorporated (NASDAQ:QSI)’s stock price rose 0.6% during trading on Friday . The stock traded as high as $2.47 and last traded at $2.43. Approximately 6,955,087 shares were traded during trading, a decline of 85% from the average daily volume of 47,458,070 shares. The stock had previously closed at $2.41.

Wall Street Analysts Forecast Growth

QSI has been the subject of a number of research analyst reports. Canaccord Genuity Group decreased their price target on Quantum-Si from $1.50 to $1.00 and set a “hold” rating for the company in a research note on Wednesday, November 13th. HC Wainwright restated a “buy” rating and issued a $5.50 price objective on shares of Quantum-Si in a report on Tuesday, January 14th.

Quantum-Si Trading Down 4.6 %

The company has a market cap of $328.23 million, a price-to-earnings ratio of -3.59 and a beta of 2.74. The business has a 50-day moving average price of $1.99 and a 200 day moving average price of $1.29.

Insider Activity

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 value of $11,710,931.78. Following the transaction, the director now directly owns 1,250,000 shares of the company’s stock, valued at $4,175,000. This trade represents a 73.72 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 30.04% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Quantum-Si

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in QSI. XTX Topco Ltd purchased a new stake in shares of Quantum-Si in the second quarter valued at $25,000. SG Americas Securities LLC purchased a new stake in Quantum-Si in the 3rd quarter worth about $53,000. Green Alpha Advisors LLC boosted 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 worth $154,000 after acquiring an additional 45,796 shares during the period. Barclays PLC grew 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 acquiring an additional 133,438 shares in the last quarter. Finally, Geode Capital Management LLC increased its holdings in shares of Quantum-Si by 6.7% in the 3rd quarter. Geode Capital Management LLC now owns 2,316,921 shares of the company’s stock valued at $2,044,000 after purchasing an additional 145,091 shares during the period. Institutional investors and hedge funds 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.