Quantum-Si (NASDAQ:QSI) Releases 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) issued its quarterly earnings results on Tuesday. The company reported ($0.16) EPS for the quarter, meeting analysts' consensus estimates of ($0.16), Zacks reports. Quantum-Si had a negative return on equity of 41.44% and a negative net margin of 2,925.41%.

Quantum-Si Stock Performance

NASDAQ:QSI remained flat at $1.44 during trading hours on Tuesday. The company's stock had a trading volume of 7,623,019 shares, compared to its average volume of 12,016,754. The stock has a 50-day moving average of $1.78 and a 200 day moving average of $1.61. Quantum-Si has a twelve month low of $0.61 and a twelve month high of $5.77. The firm has a market capitalization of $264.24 million, a PE ratio of -2.12 and a beta of 2.87.

Insiders Place Their Bets

In other news, insider John S. Vieceli sold 21,923 shares of Quantum-Si stock in a transaction on Monday, June 23rd. The stock was sold at an average price of $1.61, for a total value of $35,296.03. Following the completion of the transaction, the insider directly 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 value of $38,165.05. Following the completion of the transaction, the chief executive officer 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. Insiders sold 54,252 shares of company stock valued at $87,346 over the last three months. Company insiders own 22.95% of the company's stock.

Hedge Funds Weigh In On Quantum-Si

Several hedge funds and other institutional investors have recently added to or reduced their stakes in QSI. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in 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 purchasing an additional 13,546 shares during the last quarter. Invesco Ltd. lifted its stake in 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 purchasing an additional 66,336 shares during the last quarter. Finally, Millennium Management LLC bought a new stake in Quantum-Si during the first quarter worth about $4,721,000. 39.90% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. Alliance Global Partners reaffirmed a "buy" rating on shares of Quantum-Si in a research 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.

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.

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