Quantum-Si (NASDAQ:QSI) Shares Up 13.4% - What's Next?

Key Points

• Quantum-Si's share price increased by 13.4% recently, reaching a high of $2.73, which reflects a significant trading volume jump of 21% from the average.
• Analysts maintain an average rating of "Hold" for Quantum-Si with a target price of $3.48, although there is a mix of "Buy" and "Sell" ratings among them.
• Insider trading has been noted, with notable sales by directors, reflecting a 1.35% and 2.57% decrease in their holdings, while institutional investors made several new stakes and increases in their positions.

Quantum-Si Incorporated (NASDAQ:QSI - Get Free Report) shares rose 13.4% during mid-day trading on Monday . The stock traded as high as $2.73 and last traded at $2.59. Approximately 14,613,966 shares traded hands during trading, an increase of 21% from the average daily volume of 12,053,434 shares. The stock had previously closed at $2.28.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Canaccord Genuity Group reaffirmed a "hold" rating and issued a $1.00 price objective on shares of Quantum-Si in a report on Tuesday, September 9th. Weiss Ratings restated a "sell (e+)" rating on shares of Quantum-Si in a research note on Wednesday, October 8th. Two investment 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, the company presently has an average rating of "Hold" and an average target price of $3.48.

Quantum-Si Trading Up 13.6%

The stock has a market cap of $524.46 million, a P/E ratio of -3.81 and a beta of 2.89. The stock's 50-day moving average is $1.41 and its 200-day moving average is $1.51.

Quantum-Si (NASDAQ:QSI - Get Free Report) last released its quarterly earnings results on Tuesday, August 5th. The company reported ($0.16) EPS for the quarter, hitting analysts' consensus estimates of ($0.16). The company had revenue of $0.59 million for the quarter, compared to the consensus estimate of $1.28 million. Quantum-Si had a negative net margin of 3,120.14% and a negative return on equity of 44.57%. On average, equities analysts forecast that Quantum-Si Incorporated will post -0.65 EPS for the current year.

Insider Buying and Selling at Quantum-Si

In other news, Director Jonathan M. Rothberg sold 26,095 shares of Quantum-Si stock in a transaction on Thursday, October 16th. The stock was sold at an average price of $3.07, for a total transaction of $80,111.65. Following the transaction, the director directly owned 1,904,866 shares in the company, valued at approximately $5,847,938.62. This trade represents a 1.35% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Todd C. Bennett sold 18,482 shares of the company's stock in a transaction 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 owned 700,003 shares of the company's stock, valued at approximately $1,176,005.04. This trade represents a 2.57% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 68,936 shares of company stock worth $152,085. 30.04% of the stock is owned by insiders.

Institutional Trading of Quantum-Si

Hedge funds and other institutional investors have recently made changes to their positions in the business. Elite Life Management LLC bought a new stake in Quantum-Si during the third quarter worth approximately $29,000. HBK Sorce Advisory LLC acquired a new stake in shares of Quantum-Si during the 3rd quarter valued at $30,000. Bank of America Corp DE boosted its stake in shares of Quantum-Si by 426.6% during the 2nd quarter. Bank of America Corp DE now owns 465,999 shares of the company's stock worth $913,000 after acquiring an additional 377,504 shares in the last quarter. Ameriprise Financial Inc. acquired a new position in shares of Quantum-Si in the 2nd quarter worth $437,000. Finally, The Manufacturers Life Insurance Company raised its position in shares of Quantum-Si by 27.4% during the second quarter. The Manufacturers Life Insurance Company now owns 49,082 shares of the company's stock worth $96,000 after purchasing an additional 10,564 shares during the period. 39.90% of the stock is currently 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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