Quantum-Si's (QSI) "Hold" Rating Reaffirmed at Canaccord Genuity Group

Key Points

• Canaccord Genuity Group has reaffirmed a "hold" rating on Quantum-Si (QSI) with a target price of $1.00, indicating a potential downside of 6.98% from its current price.
• Quantum-Si reported a quarterly loss of ($0.16) EPS, meeting analysts' expectations, but its revenue of $0.59 million fell short of the consensus estimate of $1.28 million.
• Insiders sold a total of 54,252 shares of Quantum-Si stock in recent months, with notable sales by CEO Jeffrey Alan Hawkins and insider John S. Vieceli.

Quantum-Si (NASDAQ:QSI - Get Free Report)'s stock had its "hold" rating reiterated by equities research analysts at Canaccord Genuity Group in a note issued to investors on Tuesday,Benzinga reports. They presently have a $1.00 target price on the stock. Canaccord Genuity Group's price target would suggest a potential downside of 6.98% from the stock's current price.

A number of other brokerages also recently commented on QSI. Alliance Global Partners restated a "buy" rating on shares of Quantum-Si in a report on Friday, May 16th. HC Wainwright restated a "buy" rating and issued a $5.50 price objective on shares of Quantum-Si in a report on Monday, May 19th. Two investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $3.48.

Quantum-Si Stock Up 1.4%

Shares of Quantum-Si stock opened at $1.08 on Tuesday. The company's fifty day simple moving average is $1.47 and its two-hundred day simple moving average is $1.45. The firm has a market cap of $217.68 million, a PE ratio of -1.58 and a beta of 2.85. Quantum-Si has a 12-month low of $0.61 and a 12-month high of $5.77.

Quantum-Si (NASDAQ:QSI - Get Free Report) last announced its quarterly 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 company had revenue of $0.59 million for the quarter, compared to the consensus estimate of $1.28 million. Quantum-Si had a negative return on equity of 44.57% and a negative net margin of 3,120.14%. As a group, sell-side analysts expect that Quantum-Si will post -0.65 earnings per share for the current fiscal year.

Insider Transactions at Quantum-Si

In related news, insider John S. Vieceli sold 21,923 shares of the business's stock in a transaction that occurred on Monday, June 23rd. The shares were 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 $1,356,563.46. The trade was a 2.54% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Jeffrey Alan Hawkins sold 23,705 shares of the business's stock in a transaction that occurred on Monday, June 23rd. The shares were sold at an average price of $1.61, for a total transaction of $38,165.05. Following the transaction, the chief executive officer directly owned 2,623,011 shares of the company's stock, valued at $4,223,047.71. The trade was a 0.90% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 54,252 shares of company stock valued at $87,346. 22.95% of the stock is owned by company insiders.

Institutional Trading of Quantum-Si

Several large investors have recently modified their holdings of QSI. Prudential Financial Inc. bought a new stake in Quantum-Si during the second quarter valued at approximately $25,000. JTC Employer Solutions Trustee Ltd purchased a new position in shares of Quantum-Si during the 2nd quarter worth $26,000. Cetera Investment Advisers purchased a new stake in shares of Quantum-Si in the 4th quarter worth $36,000. Wealth Enhancement Advisory Services LLC purchased a new stake in shares of Quantum-Si in the 4th quarter worth $36,000. Finally, Balyasny Asset Management L.P. bought a new position in Quantum-Si in the 4th quarter worth $36,000. Institutional investors 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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