Quantum-Si (NASDAQ:QSI) Trading Down 2.5% - Here's What Happened

Key Points

• Quantum-Si Inc. shares fell by 2.5% to close at $1.93 after reaching a low of $1.85, with trading volume at approximately 7.4 million shares.
• Equities research analysts maintain a buy rating for QSI, with HC Wainwright setting a price target of $5.50 based on recent evaluations.
• Insider sales showed significant activity, with CEO Jeffrey Alan Hawkins and insider John S. Vieceli selling shares, decreasing their holdings by 0.90% and 2.54%, respectively.

Quantum-Si Incorporated (NASDAQ:QSI - Get Free Report) shares were down 2.5% on Friday . The company traded as low as $1.85 and last traded at $1.93. Approximately 7,399,037 shares were traded during mid-day trading, a decline of 3% from the average daily volume of 7,652,963 shares. The stock had previously closed at $1.98.

Wall Street Analysts Forecast Growth

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

Quantum-Si Stock Down 2.5%

The firm has a 50 day moving average of $1.80 and a two-hundred day moving average of $1.65. The firm has a market capitalization of $354.16 million, a price-to-earnings ratio of -2.84 and a beta of 2.89.

Quantum-Si (NASDAQ:QSI - Get Free Report) last released its quarterly earnings data on Thursday, May 15th. The company reported ($0.11) earnings per share for the quarter, beating the consensus estimate of ($0.17) by $0.06. The business had revenue of $0.84 million for the quarter, compared to analyst estimates of $0.96 million. Quantum-Si had a negative return on equity of 41.44% and a negative net margin of 2,925.41%. Sell-side analysts forecast that Quantum-Si Incorporated will post -0.65 EPS for the current fiscal year.

Insider Activity

In other Quantum-Si news, insider John S. Vieceli sold 21,923 shares of the stock in a transaction dated 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. This trade represents a 2.54% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Jeffrey Alan Hawkins sold 23,705 shares of the stock in a transaction dated 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 $4,223,047.71. This 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 quarter. Corporate insiders own 30.04% of the company's stock.

Hedge Funds Weigh In On Quantum-Si

Hedge funds have recently made changes to their positions in the stock. Jump Financial LLC bought a new position in shares of Quantum-Si during the fourth quarter worth about $33,000. Cetera Investment Advisers bought a new position in shares of Quantum-Si during the fourth quarter worth about $36,000. Wealth Enhancement Advisory Services LLC bought a new position in shares of Quantum-Si during the fourth quarter worth about $36,000. Balyasny Asset Management L.P. bought a new stake in Quantum-Si in the fourth quarter worth approximately $36,000. Finally, Alpine Global Management LLC bought a new stake in Quantum-Si in the fourth quarter worth approximately $37,000. 39.90% of the stock is currently owned by institutional investors.

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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