Quantum-Si Incorporated $QSI Shares Sold by ARK Investment Management LLC

Key Points

• ARK Investment Management LLC reduced its shares in Quantum-Si Incorporated by 8.6%, owning 7,960,736 shares worth approximately $15.6 million after selling 752,765 shares in the second quarter.
• Quantum-Si's stock is currently valued at $2.34, down 9.7%, with a 1-year range from a low of $0.61 to a high of $5.77, while the firm reported earnings that met analyst estimates but showed a negative net margin of 3,120.14%.
• Research analysts' ratings indicate a mixed outlook for Quantum-Si, with an average rating of "Hold" and a target price of $3.48, reflecting some cautious optimism despite a recent "sell" rating from Weiss Ratings.

ARK Investment Management LLC reduced its position in shares of Quantum-Si Incorporated (NASDAQ:QSI - Free Report) by 8.6% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 7,960,736 shares of the company's stock after selling 752,765 shares during the period. ARK Investment Management LLC owned about 4.34% of Quantum-Si worth $15,603,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the company. JTC Employer Solutions Trustee Ltd acquired a new stake in shares of Quantum-Si during the 2nd quarter valued at approximately $26,000. Millennium Management LLC acquired a new stake in Quantum-Si in the first quarter worth $4,721,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in Quantum-Si by 23.8% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 70,552 shares of the company's stock worth $85,000 after buying an additional 13,546 shares during the period. Corebridge Financial Inc. increased its position in Quantum-Si by 18.2% in the first quarter. Corebridge Financial Inc. now owns 58,876 shares of the company's stock worth $71,000 after buying an additional 9,086 shares during the period. Finally, MetLife Investment Management LLC acquired a new stake in Quantum-Si in the first quarter worth $91,000. 39.90% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the company. Weiss Ratings reissued a "sell (e+)" rating on shares of Quantum-Si in a research note on Wednesday, October 8th. Canaccord Genuity Group reissued a "hold" rating and issued a $1.00 price target on shares of Quantum-Si in a research note on Tuesday, September 9th. Two analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $3.48.

Quantum-Si Stock Down 9.7%

NASDAQ:QSI opened at $2.34 on Wednesday. Quantum-Si Incorporated has a 1-year low of $0.61 and a 1-year high of $5.77. The firm has a market capitalization of $473.83 million, a price-to-earnings ratio of -3.44 and a beta of 2.89. The stock has a fifty day simple moving average of $1.47 and a 200 day simple moving average of $1.53.

Quantum-Si (NASDAQ:QSI - Get Free Report) last released its quarterly earnings results on Tuesday, August 5th. The company reported ($0.16) earnings per share for the quarter, meeting analysts' consensus estimates of ($0.16). Quantum-Si had a negative return on equity of 44.57% and a negative net margin of 3,120.14%.The business had revenue of $0.59 million during the quarter, compared to analyst estimates of $1.28 million. Equities analysts predict that Quantum-Si Incorporated will post -0.65 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Jonathan M. Rothberg sold 26,095 shares of the stock in a transaction on Thursday, October 16th. The stock was sold at an average price of $3.07, for a total value of $80,111.65. Following the completion of the transaction, the director owned 1,904,866 shares in the company, valued at $5,847,938.62. This trade represents a 1.35% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Todd C. Bennett sold 18,482 shares of the stock in a transaction dated Monday, September 22nd. The stock was sold at an average price of $1.68, for a total value of $31,049.76. Following the completion of the sale, the insider directly owned 700,003 shares of the company's stock, valued at approximately $1,176,005.04. This represents a 2.57% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 68,936 shares of company stock valued at $152,085 in the last quarter. 22.95% of the stock is currently owned by corporate insiders.

About Quantum-Si

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.

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