Quantum-Si (NASDAQ:QSI) Given Hold Rating 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 research analysts at Canaccord Genuity Group in a research report issued on Tuesday,Benzinga reports. They presently have a $1.00 price target on the stock. Canaccord Genuity Group's target price would indicate a potential downside of 15.25% from the stock's current price.

QSI has been the subject of several other reports. HC Wainwright reiterated a "buy" rating and issued a $5.50 target price on shares of Quantum-Si in a research report on Monday, May 19th. Alliance Global Partners reiterated a "buy" rating on shares of Quantum-Si in a research report on Friday, May 16th. Two research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $3.48.

Quantum-Si Price Performance

NASDAQ:QSI traded down $0.02 during trading hours on Tuesday, hitting $1.18. The company's stock had a trading volume of 6,000,664 shares, compared to its average volume of 5,060,010. The stock has a fifty day simple moving average of $1.40 and a 200-day simple moving average of $1.44. The company has a market capitalization of $238.94 million, a P/E ratio of -1.74 and a beta of 2.85. Quantum-Si has a twelve month low of $0.61 and a twelve month high of $5.77.

Quantum-Si (NASDAQ:QSI - Get Free Report) last posted its earnings results on Tuesday, August 5th. The company reported ($0.16) EPS for the quarter, meeting the consensus estimate of ($0.16). The firm had revenue of $0.59 million during 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%. On average, equities analysts predict that Quantum-Si will post -0.65 EPS for the current fiscal year.

Insider Transactions at Quantum-Si

In other news, insider John S. Vieceli sold 21,923 shares of the firm's stock in a transaction dated Monday, June 23rd. The stock was sold at an average price of $1.61, for a total transaction 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. This trade represents a 2.54% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Jeffrey Alan Hawkins sold 23,705 shares of the firm's stock in a transaction dated Monday, June 23rd. The stock was sold at an average price of $1.61, for a total value of $38,165.05. Following the transaction, the chief executive officer owned 2,623,011 shares of the company's stock, valued at $4,223,047.71. This trade represents a 0.90% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 54,252 shares of company stock valued at $87,346 over the last 90 days. 30.04% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Quantum-Si

A number of hedge funds have recently made changes to their positions in the stock. Prudential Financial Inc. acquired a new stake in shares of Quantum-Si during the 2nd quarter worth approximately $25,000. WestHill Financial Advisors Inc. bought a new stake in shares of Quantum-Si in the 1st quarter valued at $26,000. JTC Employer Solutions Trustee Ltd bought a new stake in shares of Quantum-Si in the 2nd quarter valued at $26,000. HBW Advisory Services LLC bought a new stake in shares of Quantum-Si in the 1st quarter valued at $29,000. Finally, Cerity Partners LLC bought a new stake in shares of Quantum-Si in the 2nd quarter valued at $29,000. 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.