Quantum-Si (NASDAQ:QSI) Shares Gap Up - Still a Buy?

Key Points

• Quantum-Si's shares gapped up from $2.15 to $2.45 at market opening and last traded at $2.66 with a trading volume of over 16 million shares.
• Analyst ratings vary, with two analysts giving a "Buy" rating, one a "Hold," and one a "Sell," while the average price target for the stock is $3.48.
• The company reported a revenue of $0.59 million for the last quarter, significantly below the expected $1.28 million, and has a negative net margin of 3,120.14%.

Quantum-Si Incorporated (NASDAQ:QSI - Get Free Report) gapped up before the market opened on Wednesday . The stock had previously closed at $2.15, but opened at $2.45. Quantum-Si shares last traded at $2.66, with a volume of 16,832,931 shares changing hands.

Analyst Ratings Changes

A number of research analysts have commented 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 reaffirmed a "hold" rating and issued a $1.00 price objective on shares of Quantum-Si in a research report 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 company. According to MarketBeat.com, Quantum-Si currently has an average rating of "Hold" and an average price target of $3.48.

Quantum-Si Stock Performance

The firm's 50 day moving average is $1.35 and its 200-day moving average is $1.48. The stock has a market capitalization of $503.19 million, a price-to-earnings ratio of -3.64 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 the consensus estimate 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, sell-side analysts forecast that Quantum-Si Incorporated will post -0.65 earnings per share for the current year.

Insider Activity

In other Quantum-Si news, insider Todd C. Bennett sold 18,482 shares of the company's stock in a transaction dated Monday, September 22nd. The shares were sold at an average price of $1.68, for a total value of $31,049.76. Following the transaction, the insider owned 700,003 shares of the company's stock, valued at $1,176,005.04. This represents a 2.57% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Insiders have sold a total of 42,841 shares of company stock valued at $71,973 over the last ninety days. Corporate insiders own 22.95% of the company's stock.

Institutional Trading of Quantum-Si

Hedge funds have recently made changes to their positions in the business. Nuveen LLC purchased a new stake in shares of Quantum-Si during the first quarter worth approximately $383,000. Wealth Enhancement Advisory Services LLC purchased a new position in shares of Quantum-Si during the fourth quarter worth approximately $36,000. Bank of New York Mellon Corp grew its position in shares of Quantum-Si by 9.3% during the first quarter. Bank of New York Mellon Corp now owns 294,906 shares of the company's stock worth $354,000 after acquiring an additional 25,099 shares during the last quarter. Russell Investments Group Ltd. grew its position in shares of Quantum-Si by 322.6% during the first quarter. Russell Investments Group Ltd. now owns 38,257 shares of the company's stock worth $46,000 after acquiring an additional 29,204 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in shares of Quantum-Si by 19.3% during the first quarter. Charles Schwab Investment Management Inc. now owns 367,444 shares of the company's stock worth $441,000 after acquiring an additional 59,423 shares during the last quarter. Institutional investors and hedge funds own 39.90% of the company's stock.

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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