Quantum-Si (NASDAQ:QSI) Shares Down 8% – Here’s Why

Quantum-Si incorporated (NASDAQ:QSI)’s share price fell 8% during mid-day trading on Tuesday . The company traded as low as $3.57 and last traded at $3.77. 9,200,919 shares changed hands during trading, a decline of 90% from the average session volume of 93,592,078 shares. The stock had previously closed at $4.10.

Wall Street Analysts Forecast Growth

QSI has been the subject of several research analyst reports. Canaccord Genuity Group dropped their target price on shares of Quantum-Si from $1.50 to $1.00 and set a “hold” rating for the company in a research report on Wednesday, November 13th. HC Wainwright increased their price target on shares of Quantum-Si from $4.00 to $5.50 and gave the stock a “buy” rating in a research note on Thursday, November 21st.

Quantum-Si Stock Down 24.4 %

The company has a market capitalization of $376.76 million, a P/E ratio of -4.13 and a beta of 2.74. The company has a 50-day moving average of $1.62 and a two-hundred day moving average of $1.18.

Insider Activity

In related news, Director Jonathan M. Rothberg sold 3,506,267 shares of the firm’s stock in a transaction that occurred on Friday, December 27th. The stock was sold at an average price of $3.34, for a total transaction 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 $4,175,000. This trade represents a 73.72 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 30.04% of the company’s stock.

Institutional Investors Weigh In On Quantum-Si

A number of institutional investors have recently modified their holdings of the stock. Bank of New York Mellon Corp raised its holdings in 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 worth $339,000 after acquiring an additional 10,811 shares during the last quarter. XTX Topco Ltd increased its holdings in shares of Quantum-Si by 81.3% in the 3rd quarter. XTX Topco Ltd now owns 43,812 shares of the company’s stock worth $39,000 after purchasing an additional 19,651 shares in the last quarter. Green Alpha Advisors LLC raised its stake 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 worth $154,000 after purchasing an additional 45,796 shares during the last quarter. SG Americas Securities LLC bought a new position in shares of Quantum-Si during the third quarter valued at $53,000. Finally, Barclays PLC boosted its position in shares of 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 buying an additional 133,438 shares during the last quarter. 39.90% of the stock is owned by hedge funds and other institutional investors.

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.