Weiss Ratings Reaffirms "Sell (E+)" Rating for Quantum-Si (NASDAQ:QSI)

Key Points

• Weiss Ratings has reaffirmed a "Sell (E+)" rating for Quantum-Si (NASDAQ: QSI), indicating ongoing concerns about the company's stock performance.
• Quantum-Si reported a quarterly loss of ($0.16) earnings per share, matching analysts' expectations but falling short of revenue estimates at $0.59 million versus the projected $1.28 million.
• The average price target for Quantum-Si is currently $3.48, with a mixed rating from analysts: two Buy ratings, one Hold, and one Sell.

Quantum-Si (NASDAQ:QSI - Get Free Report)'s stock had its "sell (e+)" rating restated by stock analysts at Weiss Ratings in a report issued on Wednesday,Weiss Ratings reports.

Separately, Canaccord Genuity Group reiterated a "hold" rating and set a $1.00 price target on shares of Quantum-Si in a research report on Tuesday, September 9th. Two analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $3.48.

Quantum-Si Stock Performance

Shares of QSI stock opened at $1.77 on Wednesday. Quantum-Si has a 12 month low of $0.61 and a 12 month high of $5.77. The firm has a market capitalization of $358.41 million, a PE ratio of -2.60 and a beta of 2.89. The firm has a fifty day simple moving average of $1.31 and a two-hundred day simple moving average of $1.47.

Quantum-Si (NASDAQ:QSI - Get Free Report) last issued its quarterly earnings results on Tuesday, August 5th. The company reported ($0.16) earnings per share 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 predict that Quantum-Si will post -0.65 earnings per share for the current fiscal year.

Insider Transactions at Quantum-Si

In related news, insider Todd C. Bennett sold 18,482 shares of the business's stock in a transaction that occurred on Monday, September 22nd. The stock was sold at an average price of $1.68, for a total transaction 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 can be accessed through this link. Insiders sold 42,841 shares of company stock valued at $71,973 over the last 90 days. Company insiders own 30.04% of the company's stock.

Institutional Trading of Quantum-Si

Several hedge funds have recently modified their holdings of QSI. Millennium Management LLC purchased a new stake in shares of Quantum-Si during the 1st quarter worth approximately $4,721,000. Geode Capital Management LLC increased its position in shares of Quantum-Si by 15.1% during the 2nd quarter. Geode Capital Management LLC now owns 3,447,738 shares of the company's stock valued at $6,759,000 after purchasing an additional 452,850 shares during the last quarter. Bank of America Corp DE increased its position 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 valued at $913,000 after purchasing an additional 377,504 shares during the last quarter. Nuveen LLC bought a new position in shares of Quantum-Si during the 1st quarter valued at approximately $383,000. Finally, Ameriprise Financial Inc. bought a new position in shares of Quantum-Si during the 2nd quarter valued at approximately $437,000. 39.90% of the stock is owned by hedge funds and other 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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