Quantum-Si Incorporated $QSI Shares Sold by State Street Corp

Key Points

• State Street Corp cut its Quantum-Si stake by 76.4% in the second quarter, selling 2.88 million shares and retaining 890,741 shares worth approximately $788,000. Institutional investors collectively own 39.9% of QSI.
• Quantum-Si’s shares opened at $0.83, near the lower end of their 52-week range of $0.69 to $3.10. The company reported a quarterly loss of $0.11 per share and revenue of $340,000, while analysts expect a full-year loss of $0.47 per share.
• Analyst sentiment is mixed, with one Buy, one Hold and one Sell rating; the consensus rating is Hold with an average price target of $1.00.

State Street Corp trimmed its holdings in Quantum-Si Incorporated (NASDAQ:QSI - Free Report) by 76.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 890,741 shares of the company's stock after selling 2,879,948 shares during the quarter. State Street Corp owned about 0.41% of Quantum-Si worth $788,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Renaissance Technologies LLC bought a new position in Quantum-Si during the first quarter worth $91,000. WINTON GROUP Ltd acquired a new stake in shares of Quantum-Si in the 2nd quarter valued at about $67,000. Green Alpha Advisors LLC bought a new stake in Quantum-Si in the 2nd quarter valued at about $41,000. Hollencrest Capital Management raised its stake in Quantum-Si by 301.1% during the 1st quarter. Hollencrest Capital Management now owns 40,111 shares of the company's stock worth $31,000 after buying an additional 30,111 shares during the period. Finally, Corient Private Wealth LP acquired a new position in Quantum-Si during the 2nd quarter worth approximately $34,000. 39.90% of the stock is currently owned by institutional investors.

Quantum-Si Price Performance

QSI opened at $0.83 on Friday. Quantum-Si Incorporated has a fifty-two week low of $0.69 and a fifty-two week high of $3.10. The firm has a market capitalization of $182.61 million, a PE ratio of -1.81 and a beta of 3.25. The company's 50-day moving average is $0.77 and its 200 day moving average is $0.88.

Quantum-Si (NASDAQ:QSI - Get Free Report) last released its quarterly earnings results on Thursday, August 13th. The company reported ($0.11) earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of ($0.11). The business had revenue of $0.34 million during the quarter, compared to the consensus estimate of $0.30 million. Quantum-Si had a negative return on equity of 47.12% and a negative net margin of 6,138.26%. As a group, analysts expect that Quantum-Si Incorporated will post -0.47 EPS for the current year.

Analysts Set New Price Targets

QSI has been the subject of a number of research reports. Alliance Global Partners reissued a "buy" rating on shares of Quantum-Si in a research note on Friday, August 14th. Weiss Ratings raised Quantum-Si from a "sell (e+)" rating to a "sell (d-)" rating in a research report on Thursday. Finally, Wall Street Zen upgraded Quantum-Si from a "sell" rating to a "hold" rating in a report on Saturday, September 12th. One research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $1.00.

About Quantum-Si

Quantum-Si Incorporated NASDAQ: QSI is a life sciences technology company focused on advancing proteomics, the study of proteins and their roles in biological systems. The company develops tools intended to help researchers identify and analyze proteins at the single-molecule level, supporting applications in drug discovery, translational research and precision medicine.

Its primary offering is the Platinum platform, which combines an automated instrument, proprietary sequencing technology, consumables and software for protein analysis.

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