Quantum-Si (NASDAQ:QSI) Given New $1.00 Price Target at Canaccord Genuity Group

Quantum-Si (NASDAQ:QSI) had its price target reduced by equities research analysts at Canaccord Genuity Group from $1.50 to $1.00 in a report released on Wednesday,Benzinga reports. The firm currently has a “hold” rating on the stock. Canaccord Genuity Group’s target price would indicate a potential upside of 28.98% from the stock’s current price.

Quantum-Si Stock Down 22.4 %

NASDAQ QSI opened at $0.78 on Wednesday. The firm has a market cap of $110.37 million, a price-to-earnings ratio of -1.23 and a beta of 2.89. The company has a 50-day simple moving average of $0.86 and a two-hundred day simple moving average of $1.12. Quantum-Si has a 12-month low of $0.70 and a 12-month high of $2.43.

Quantum-Si (NASDAQ:QSI) last posted its quarterly earnings results on Tuesday, November 12th. The company reported ($0.18) EPS for the quarter, beating analysts’ consensus estimates of ($0.21) by $0.03. Quantum-Si had a negative net margin of 5,249.65% and a negative return on equity of 33.02%. The company had revenue of $0.79 million during the quarter, compared to analyst estimates of $1.06 million. Equities analysts expect that Quantum-Si will post -0.71 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Quantum-Si

Hedge funds and other institutional investors have recently bought and sold shares of the business. XTX Topco Ltd bought a new stake in Quantum-Si during the 2nd quarter valued at about $25,000. Public Employees Retirement System of Ohio bought a new stake in shares of Quantum-Si during the first quarter valued at approximately $27,000. Bleakley Financial Group LLC purchased a new position in Quantum-Si in the 1st quarter worth approximately $28,000. SG Americas Securities LLC bought a new position in Quantum-Si in the 3rd quarter valued at approximately $53,000. Finally, Virtu Financial LLC purchased a new stake in Quantum-Si during the 1st quarter valued at $98,000. Hedge funds and other institutional investors 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.