Quantum-Si (NASDAQ:QSI) Posts Quarterly Earnings Results, Meets Expectations

Key Points

• Quantum-Si reported quarterly earnings of ($0.16) EPS, matching analysts' expectations.
• The company's stock price remained flat at $1.44 during trading hours, with a market capitalization of $264.24 million.
• Insider sales included CEO Jeffrey Alan Hawkins selling 23,705 shares at an average price of $1.61, reducing his ownership by 0.90%.

Quantum-Si (NASDAQ:QSI - Get Free Report) released its quarterly earnings data on Tuesday. The company reported ($0.16) EPS for the quarter, meeting analysts' consensus estimates of ($0.16), Zacks reports. The business had revenue of $0.59 million during the quarter, compared to analysts' expectations of $1.28 million. Quantum-Si had a negative net margin of 3,120.14% and a negative return on equity of 44.57%.

Quantum-Si Stock Performance

Shares of NASDAQ:QSI traded down $0.06 during mid-day trading on Friday, reaching $1.27. 6,422,310 shares of the company's stock were exchanged, compared to its average volume of 6,831,306. The firm has a market capitalization of $233.05 million, a price-to-earnings ratio of -1.87 and a beta of 2.87. The business's fifty day moving average price is $1.75 and its 200-day moving average price is $1.59. Quantum-Si has a twelve month low of $0.61 and a twelve month high of $5.77.

Insiders Place Their Bets

In related news, insider John S. Vieceli sold 21,923 shares of the business's stock in a transaction on Monday, June 23rd. The shares were 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 $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 available at this hyperlink. Also, CEO Jeffrey Alan Hawkins sold 23,705 shares of Quantum-Si stock in a transaction on Monday, June 23rd. The shares were sold at an average price of $1.61, for a total transaction of $38,165.05. Following the completion of the sale, the chief executive officer directly owned 2,623,011 shares of the company's stock, valued at approximately $4,223,047.71. This trade represents a 0.90% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 54,252 shares of company stock worth $87,346. 30.04% of the stock is owned by company insiders.

Institutional Investors Weigh In On Quantum-Si

Several hedge funds and other institutional investors have recently made changes to their positions in QSI. Millennium Management LLC bought a new stake in shares of Quantum-Si during the first quarter worth about $4,721,000. Invesco Ltd. increased its position in shares of Quantum-Si by 177.7% during the first quarter. Invesco Ltd. now owns 103,657 shares of the company's stock worth $124,000 after acquiring an additional 66,336 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Quantum-Si by 23.8% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 70,552 shares of the company's stock worth $85,000 after acquiring an additional 13,546 shares in the last quarter. 39.90% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on QSI. HC Wainwright reaffirmed a "buy" rating and issued a $5.50 target price on shares of Quantum-Si in a research note on Monday, May 19th. Alliance Global Partners reaffirmed a "buy" rating on shares of Quantum-Si in a research note on Friday, May 16th.

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.