Quantum-Si (NASDAQ:QSI) Shares Up 1.3% – Should You Buy?

Quantum-Si incorporated (NASDAQ:QSI)’s share price shot up 1.3% on Thursday . The stock traded as high as $2.63 and last traded at $2.38. 21,004,089 shares traded hands during mid-day trading, a decline of 66% from the average session volume of 61,744,461 shares. The stock had previously closed at $2.35.

Wall Street Analyst Weigh In

A number of research firms recently commented on QSI. Canaccord Genuity Group reduced their target price on Quantum-Si from $1.50 to $1.00 and set a “hold” rating on the stock in a research note on Wednesday, November 13th. HC Wainwright reissued a “buy” rating and issued a $5.50 target price on shares of Quantum-Si in a research note on Tuesday.

Quantum-Si Price Performance

The firm has a market cap of $319.68 million, a P/E ratio of -3.50 and a beta of 2.74. The stock has a 50 day moving average of $1.83 and a 200 day moving average of $1.24.

Insider Activity

In other news, Director Jonathan M. Rothberg sold 3,506,267 shares of the firm’s stock in a transaction dated 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 transaction, 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 30.04% of the company’s stock.

Institutional Trading of Quantum-Si

A number of institutional investors have recently modified their holdings of QSI. Geode Capital Management LLC boosted its holdings in shares of Quantum-Si by 6.7% during the third quarter. Geode Capital Management LLC now owns 2,316,921 shares of the company’s stock worth $2,044,000 after purchasing an additional 145,091 shares during the period. Barclays PLC lifted its holdings in Quantum-Si by 210.5% in the third quarter. Barclays PLC now owns 196,826 shares of the company’s stock worth $173,000 after buying an additional 133,438 shares during the period. SG Americas Securities LLC purchased a new stake in Quantum-Si in the third quarter worth about $53,000. Green Alpha Advisors LLC lifted its holdings 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 buying an additional 45,796 shares during the period. Finally, XTX Topco Ltd purchased a new stake in Quantum-Si in the second quarter worth about $25,000. 39.90% of the stock is currently 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.