Quantum-Si (NASDAQ:QSI) Stock Price Down 8% – Here’s What Happened

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

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. HC Wainwright raised their target price on shares of Quantum-Si from $4.00 to $5.50 and gave the company a “buy” rating in a research note on Thursday, November 21st. Canaccord Genuity Group reduced their price objective on Quantum-Si from $1.50 to $1.00 and set a “hold” rating for the company in a research report on Wednesday, November 13th.

Quantum-Si Stock Performance

The firm has a market cap of $513.77 million, a PE ratio of -5.63 and a beta of 2.74. The stock has a 50-day simple moving average of $1.53 and a two-hundred day simple moving average of $1.15.

Insiders Place Their Bets

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 shares were sold at an average price of $3.34, for a total value of $11,710,931.78. Following the transaction, the director now 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 transaction was disclosed in a filing with the SEC, which can be accessed through this link. 30.04% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Quantum-Si

A number of hedge funds have recently modified their holdings of the business. SG Americas Securities LLC purchased a new position in Quantum-Si during the third quarter valued at $53,000. XTX Topco Ltd lifted its position in shares of Quantum-Si by 81.3% during the 3rd quarter. XTX Topco Ltd now owns 43,812 shares of the company’s stock valued at $39,000 after buying an additional 19,651 shares in the last quarter. Green Alpha Advisors LLC grew its stake in shares of Quantum-Si by 35.4% during the 3rd quarter. Green Alpha Advisors LLC now owns 175,055 shares of the company’s stock valued at $154,000 after acquiring an additional 45,796 shares during the period. Barclays PLC increased its holdings in Quantum-Si by 210.5% in the 3rd quarter. Barclays PLC now owns 196,826 shares of the company’s stock worth $173,000 after acquiring an additional 133,438 shares in the last quarter. Finally, Geode Capital Management LLC raised its stake in Quantum-Si by 6.7% during the 3rd quarter. Geode Capital Management LLC now owns 2,316,921 shares of the company’s stock worth $2,044,000 after acquiring an additional 145,091 shares during the period. 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.