Quantum-Si (NASDAQ:QSI) Posts Earnings Results, Beats Expectations By $0.03 EPS

Quantum-Si (NASDAQ:QSI) announced its earnings results on Tuesday. The company reported ($0.18) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.21) by $0.03, reports. Quantum-Si had a negative net margin of 3,968.84% and a negative return on equity of 36.96%. The firm had revenue of $0.79 million for the quarter, compared to analyst estimates of $1.06 million.

Quantum-Si Stock Down 1.5 %

Shares of NASDAQ:QSI opened at $0.78 on Friday. Quantum-Si has a one year low of $0.70 and a one year high of $2.43. The firm’s 50 day simple moving average is $0.86 and its 200-day simple moving average is $1.11.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on QSI. Canaccord Genuity Group cut their price target on Quantum-Si from $1.50 to $1.00 and set a “hold” rating on the stock in a report on Wednesday. HC Wainwright reissued a “buy” rating and set a $4.00 price objective on shares of Quantum-Si in a report on Wednesday.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its position in shares of Quantum-Si by 1.6% during the first quarter. Vanguard Group Inc. now owns 5,300,685 shares of the company’s stock worth $10,442,000 after purchasing an additional 82,463 shares in the last quarter. Jacobs Levy Equity Management Inc. purchased a new position in Quantum-Si in the first quarter valued at approximately $998,000. Bank of New York Mellon Corp boosted its position in shares of Quantum-Si by 3.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 322,460 shares of the company’s stock valued at $339,000 after purchasing an additional 10,811 shares during the period. Green Alpha Advisors LLC raised its holdings in shares of Quantum-Si by 35.4% in the third quarter. Green Alpha Advisors LLC now owns 175,055 shares of the company’s stock valued at $154,000 after buying an additional 45,796 shares during the last quarter. Finally, SG Americas Securities LLC acquired a new stake in shares of Quantum-Si during the third quarter worth $53,000. 39.90% of the stock is owned by institutional investors and hedge funds.

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.