Quantum-Si Target of Unusually High Options Trading (NASDAQ:QSI)

Key Points

• Quantum-Si experienced a surge in options trading, with 25,404 call options being acquired, marking a 309% increase from its average daily volume.
• The company's stock rose 22.1% to $2.63, with a significant trading volume of over 26 million shares, compared to an average of approximately 11.6 million shares.
• Analysts maintain a generally cautious outlook, with an average rating of "Hold" and a price target of $3.48, despite two analysts giving the stock a Buy rating.

Quantum-Si Incorporated (NASDAQ:QSI - Get Free Report) was the target of unusually large options trading on Wednesday. Stock traders acquired 25,404 call options on the company. This represents an increase of approximately 309% compared to the typical daily volume of 6,212 call options.

Wall Street Analyst Weigh In

QSI has been the topic of several research analyst reports. Weiss Ratings reaffirmed 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 target on shares of Quantum-Si in a report on Tuesday, September 9th. Two analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $3.48.

Quantum-Si Stock Up 22.1%

QSI stock traded up $0.48 during midday trading on Wednesday, reaching $2.63. The company's stock had a trading volume of 26,371,838 shares, compared to its average volume of 11,659,891. Quantum-Si has a 52 week low of $0.61 and a 52 week high of $5.77. The stock has a market cap of $531.54 million, a PE ratio of -3.90 and a beta of 2.89. The business's 50-day simple moving average is $1.35 and its 200-day simple moving average is $1.48.

Quantum-Si (NASDAQ:QSI - Get Free Report) last posted its quarterly earnings data on Tuesday, August 5th. The company reported ($0.16) EPS for the quarter, meeting the consensus estimate of ($0.16). Quantum-Si had a negative net margin of 3,120.14% and a negative return on equity of 44.57%. The business had revenue of $0.59 million for the quarter, compared to analysts' expectations of $1.28 million. As a group, equities analysts forecast that Quantum-Si will post -0.65 earnings per share for the current fiscal year.

Insider Transactions at Quantum-Si

In other Quantum-Si news, insider Todd C. Bennett sold 18,482 shares of the business's stock in a transaction on Monday, September 22nd. The stock was sold at an average price of $1.68, for a total value of $31,049.76. Following the completion of the transaction, the insider directly owned 700,003 shares in the company, valued at approximately $1,176,005.04. The trade was a 2.57% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Over the last 90 days, insiders sold 42,841 shares of company stock valued at $71,973. 22.95% of the stock is currently owned by corporate insiders.

Institutional Trading of Quantum-Si

Institutional investors and hedge funds have recently made changes to their positions in the company. Millennium Management LLC acquired a new position in Quantum-Si during the 1st quarter worth approximately $4,721,000. Geode Capital Management LLC boosted its stake in Quantum-Si by 15.1% during the second quarter. Geode Capital Management LLC now owns 3,447,738 shares of the company's stock worth $6,759,000 after acquiring an additional 452,850 shares in the last quarter. Bank of America Corp DE lifted its stake in shares of Quantum-Si by 426.6% in the second quarter. Bank of America Corp DE now owns 465,999 shares of the company's stock valued at $913,000 after buying an additional 377,504 shares in the last quarter. XTX Topco Ltd raised its holdings in shares of Quantum-Si by 50.2% in the first 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 holdings in shares of Quantum-Si by 19.3% in the first 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. Institutional investors own 39.90% of the company's stock.

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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