Nikko Asset Management Americas Inc. Sells 153,778 Shares of Quantum-Si Incorporated (NASDAQ:QSI)

Key Points

• Nikko Asset Management Americas Inc. reduced its stake in Quantum-Si by 2.6% during the first quarter, now holding approximately 3.17% of the company, valued at $6.92 million.
• Other hedge funds, including Renaissance Technologies LLC and XTX Topco Ltd, significantly increased their holdings in Quantum-Si during the fourth quarter, indicating growing institutional interest.
• Quantum-Si's stock recently experienced a 2.5% decline and reported a quarterly earnings loss that surpassed analysts' expectations, with a projected EPS of -0.65 for the current fiscal year.

Nikko Asset Management Americas Inc. reduced its holdings in shares of Quantum-Si Incorporated (NASDAQ:QSI - Free Report) by 2.6% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 5,811,430 shares of the company's stock after selling 153,778 shares during the quarter. Nikko Asset Management Americas Inc. owned approximately 3.17% of Quantum-Si worth $6,916,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. WestHill Financial Advisors Inc. bought a new stake in shares of Quantum-Si during the 1st quarter valued at $26,000. HBW Advisory Services LLC bought a new stake in Quantum-Si in the first quarter valued at approximately $29,000. Jump Financial LLC acquired a new stake in shares of Quantum-Si during the fourth quarter worth $33,000. Balyasny Asset Management L.P. bought a new stake in shares of Quantum-Si during the 4th quarter valued at about $36,000. Finally, Cetera Investment Advisers bought a new stake in shares of Quantum-Si during the 4th quarter valued at about $36,000. 39.90% of the stock is currently owned by institutional investors.

Quantum-Si Price Performance

Shares of Quantum-Si stock traded down $0.14 during trading hours on Monday, reaching $1.79. The company had a trading volume of 6,716,077 shares, compared to its average volume of 7,404,335. Quantum-Si Incorporated has a one year low of $0.61 and a one year high of $5.77. The business has a fifty day simple moving average of $1.80 and a 200 day simple moving average of $1.63.

Quantum-Si (NASDAQ:QSI - Get Free Report) last posted its quarterly earnings data on Thursday, May 15th. The company reported ($0.11) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.17) by $0.06. Quantum-Si had a negative return on equity of 41.44% and a negative net margin of 2,925.41%. The company had revenue of $0.84 million during the quarter, compared to analyst estimates of $0.96 million. As a group, equities research analysts forecast that Quantum-Si Incorporated will post -0.65 EPS for the current year.

Analyst Ratings Changes

QSI has been the topic of a number of recent research reports. Alliance Global Partners reiterated a "buy" rating on shares of Quantum-Si in a report on Friday, May 16th. HC Wainwright reaffirmed a "buy" rating and set a $5.50 price target on shares of Quantum-Si in a research report on Monday, May 19th.

Insider Activity

In other news, insider John S. Vieceli sold 21,923 shares of Quantum-Si stock in a transaction dated Monday, June 23rd. The stock was sold at an average price of $1.61, for a total value of $35,296.03. Following the transaction, the insider owned 842,586 shares in the company, valued at approximately $1,356,563.46. The trade was a 2.54% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Jeffrey Alan Hawkins sold 23,705 shares of Quantum-Si stock in a transaction dated Monday, June 23rd. The stock was sold at an average price of $1.61, for a total value of $38,165.05. Following the completion of the transaction, the chief executive officer owned 2,623,011 shares in the company, valued at approximately $4,223,047.71. This represents a 0.90% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 54,252 shares of company stock worth $87,346. Company insiders own 22.95% of the company's stock.

Quantum-Si 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.