Canaccord Genuity Group Issues Pessimistic Forecast for Quantum-Si (NASDAQ:QSI) Stock Price

Quantum-Si (NASDAQ:QSI) had its price target cut by Canaccord Genuity Group from $1.50 to $1.00 in a research report sent to investors on Wednesday,Benzinga reports. They currently have a hold rating on the stock.

Quantum-Si Trading Down 5.8 %

QSI opened at $0.73 on Wednesday. The company has a fifty day moving average price of $0.85 and a two-hundred day moving average price of $1.10. Quantum-Si has a 1-year low of $0.70 and a 1-year high of $2.43. The company has a market cap of $104.54 million, a P/E ratio of -1.15 and a beta of 2.89.

Institutional Investors Weigh In On Quantum-Si

A number of hedge funds have recently added to or reduced their stakes in the company. XTX Topco Ltd bought a new position in shares of Quantum-Si in the 2nd quarter worth $25,000. Public Employees Retirement System of Ohio bought a new position in shares of Quantum-Si in the first quarter valued at $27,000. Bleakley Financial Group LLC acquired a new position in shares of Quantum-Si during the first quarter valued at about $28,000. SG Americas Securities LLC bought a new stake in shares of Quantum-Si during the third quarter worth about $53,000. Finally, Virtu Financial LLC acquired a new stake in shares of Quantum-Si in the 1st quarter worth about $98,000. Institutional investors and hedge funds 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.