Quantum-Si (NASDAQ:QSI) Trading 39.6% Higher – Here’s Why

Quantum-Si incorporated (NASDAQ:QSI)’s stock price was up 39.6% during trading on Thursday . The stock traded as high as $3.79 and last traded at $3.77. Approximately 67,820,135 shares traded hands during trading, an increase of 1,205% from the average daily volume of 5,195,960 shares. The stock had previously closed at $2.70.

Analysts Set New Price Targets

QSI has been the topic of a number of research reports. HC Wainwright raised their price objective on Quantum-Si from $4.00 to $5.50 and gave the stock a “buy” rating in a report on Thursday, November 21st. Canaccord Genuity Group reduced their price target on shares of Quantum-Si from $1.50 to $1.00 and set a “hold” rating on the stock in a research report on Wednesday, November 13th.

Quantum-Si Stock Up 41.5 %

The stock has a 50 day simple moving average of $1.32 and a 200 day simple moving average of $1.09. The company has a market cap of $545.16 million, a price-to-earnings ratio of -5.97 and a beta of 3.20.

Insider Buying and Selling

In related news, Director Jonathan M. Rothberg sold 3,506,267 shares of the firm’s stock in a transaction on Friday, December 27th. The shares were sold at an average price of $3.34, for a total transaction of $11,710,931.78. Following the completion of the sale, the director now directly owns 1,250,000 shares of the company’s stock, valued at approximately $4,175,000. This trade represents a 73.72 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 30.04% of the stock is currently owned by corporate insiders.

Institutional Trading of Quantum-Si

Several institutional investors have recently added to or reduced their stakes in QSI. XTX Topco Ltd acquired a new stake in Quantum-Si during the second quarter worth about $25,000. SG Americas Securities LLC acquired a new position in shares of Quantum-Si during the 3rd quarter valued at $53,000. Green Alpha Advisors LLC raised its position in Quantum-Si by 35.4% in the third quarter. Green Alpha Advisors LLC now owns 175,055 shares of the company’s stock worth $154,000 after acquiring an additional 45,796 shares in the last quarter. Barclays PLC lifted its stake in Quantum-Si by 210.5% during the third quarter. Barclays PLC now owns 196,826 shares of the company’s stock valued at $173,000 after purchasing an additional 133,438 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its stake in shares of 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 acquiring an additional 10,811 shares in the last quarter. 39.90% of the stock is owned by institutional investors and hedge funds.

Quantum-Si Company Profile

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.