Quantum-Si (NASDAQ:QSI) Shares Up 0.6% – Still a Buy?

Shares of Quantum-Si incorporated (NASDAQ:QSI) rose 0.6% on Friday . The stock traded as high as $2.47 and last traded at $2.43. Approximately 6,955,087 shares traded hands during trading, a decline of 85% from the average daily volume of 47,458,070 shares. The stock had previously closed at $2.41.

Analyst Upgrades and Downgrades

A number of brokerages have commented on QSI. HC Wainwright reaffirmed a “buy” rating and set a $5.50 price target on shares of Quantum-Si in a research report on Tuesday, January 14th. Canaccord Genuity Group lowered their price target on Quantum-Si from $1.50 to $1.00 and set a “hold” rating for the company in a research report on Wednesday, November 13th.

Quantum-Si Trading Down 3.5 %

The firm has a market cap of $331.80 million, a price-to-earnings ratio of -3.65 and a beta of 2.74. The company has a fifty day moving average price of $1.96 and a 200-day moving average price of $1.28.

Insider Activity

In related news, Director Jonathan M. Rothberg sold 3,506,267 shares of the company’s stock in a transaction dated Friday, December 27th. The stock was sold at an average price of $3.34, for a total value of $11,710,931.78. Following the completion of the transaction, the director now owns 1,250,000 shares of the company’s stock, valued at approximately $4,175,000. This represents a 73.72 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 30.04% of the company’s stock.

Hedge Funds Weigh In On Quantum-Si

A number of large investors have recently bought and sold shares of QSI. Geode Capital Management LLC increased its stake in Quantum-Si by 6.7% during the 3rd quarter. Geode Capital Management LLC now owns 2,316,921 shares of the company’s stock worth $2,044,000 after buying an additional 145,091 shares in the last quarter. Bank of New York Mellon Corp increased its stake in Quantum-Si by 3.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 322,460 shares of the company’s stock worth $339,000 after buying an additional 10,811 shares in the last quarter. Barclays PLC increased its stake in Quantum-Si by 210.5% during the 3rd quarter. Barclays PLC now owns 196,826 shares of the company’s stock worth $173,000 after buying an additional 133,438 shares in the last quarter. Green Alpha Advisors LLC increased its stake in Quantum-Si by 35.4% during the 3rd quarter. Green Alpha Advisors LLC now owns 175,055 shares of the company’s stock worth $154,000 after buying an additional 45,796 shares in the last quarter. Finally, SG Americas Securities LLC increased its stake in Quantum-Si by 12.4% during the 4th quarter. SG Americas Securities LLC now owns 67,588 shares of the company’s stock worth $182,000 after buying an additional 7,470 shares in the last quarter. 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.