Quantum-Si (NASDAQ:QSI) Sees Unusually-High Trading Volume - Here's Why

Key Points

• Quantum-Si (NASDAQ:QSI) experienced a significant trading volume spike, with approximately 24.6 million shares traded, a 108% increase from the previous day.
• Analysts have mixed ratings for Quantum-Si, with a consensus rating of "Hold" and an average target price of $3.48.
• The stock reported negative earnings per share (EPS) of ($0.16) and revenue of only $0.59 million, falling short of analysts' expectations of $1.28 million.

Quantum-Si Incorporated (NASDAQ:QSI - Get Free Report) saw unusually-strong trading volume on Thursday . Approximately 24,646,327 shares were traded during mid-day trading, an increase of 108% from the previous session's volume of 11,825,332 shares.The stock last traded at $2.73 and had previously closed at $2.63.

Analysts Set New Price Targets

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

Quantum-Si Stock Down 3.6%

The stock's 50-day moving average is $1.37 and its 200 day moving average is $1.49. The stock has a market capitalization of $513.31 million, a PE ratio of -3.73 and a beta of 2.89.

Quantum-Si (NASDAQ:QSI - Get Free Report) last posted its earnings results on Tuesday, August 5th. The company reported ($0.16) earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of ($0.16). The firm 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%. As a group, equities research analysts forecast that Quantum-Si Incorporated will post -0.65 EPS for the current year.

Insider Transactions at Quantum-Si

In other Quantum-Si news, insider Todd C. Bennett sold 18,482 shares of Quantum-Si stock in a transaction that occurred on Monday, September 22nd. The shares were 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 in the company, valued at $1,176,005.04. The trade was a 2.57% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders have sold 42,841 shares of company stock valued at $71,973 in the last ninety days. 30.04% of the stock is owned by insiders.

Institutional Trading of Quantum-Si

Several large investors have recently modified their holdings of the company. Millennium Management LLC bought a new stake in shares of Quantum-Si during the 1st quarter worth $4,721,000. Geode Capital Management LLC raised its stake in Quantum-Si by 15.1% during the 2nd quarter. Geode Capital Management LLC now owns 3,447,738 shares of the company's stock valued at $6,759,000 after purchasing an additional 452,850 shares during the last quarter. Bank of America Corp DE raised its stake in Quantum-Si by 426.6% during the 2nd quarter. Bank of America Corp DE now owns 465,999 shares of the company's stock valued at $913,000 after purchasing an additional 377,504 shares during the last quarter. XTX Topco Ltd raised its stake in Quantum-Si by 50.2% during the 1st quarter. XTX Topco Ltd now owns 368,968 shares of the company's stock valued at $443,000 after purchasing an additional 123,383 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in Quantum-Si by 19.3% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 367,444 shares of the company's stock valued at $441,000 after purchasing an additional 59,423 shares during the last quarter. 39.90% of the stock is owned by institutional investors.

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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