Quantum-Si (NASDAQ:QSI) Trading Up 9.8% – Should You Buy?

Quantum-Si incorporated (NASDAQ:QSI) shares rose 9.8% during trading on Wednesday . The stock traded as high as $2.54 and last traded at $2.23. Approximately 26,294,749 shares traded hands during mid-day trading, a decline of 59% from the average daily volume of 63,821,848 shares. The stock had previously closed at $2.03.

Wall Street Analysts Forecast Growth

QSI has been the topic of several recent analyst reports. HC Wainwright reissued a “buy” rating and issued a $5.50 target price on shares of Quantum-Si in a report on Tuesday. Canaccord Genuity Group dropped their price objective 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.

Quantum-Si Stock Performance

The firm’s 50-day moving average is $1.75 and its two-hundred day moving average is $1.21. The stock has a market cap of $312.17 million, a P/E ratio of -3.42 and a beta of 2.74.

Insider Activity at Quantum-Si

In other Quantum-Si news, Director Jonathan M. Rothberg sold 3,506,267 shares of the 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 completion of the transaction, the director now owns 1,250,000 shares in the company, valued at approximately $4,175,000. This 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 owned by corporate insiders.

Hedge Funds Weigh In On Quantum-Si

Several hedge funds have recently modified their holdings of QSI. XTX Topco Ltd bought a new position in shares of Quantum-Si in the 2nd quarter valued at about $25,000. SG Americas Securities LLC bought a new position in shares of Quantum-Si in the 3rd quarter valued at about $53,000. Green Alpha Advisors LLC grew its holdings in shares of Quantum-Si by 35.4% in 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 in the last quarter. Barclays PLC grew its holdings in shares of Quantum-Si by 210.5% in the 3rd quarter. Barclays PLC now owns 196,826 shares of the company’s stock valued at $173,000 after acquiring an additional 133,438 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its holdings in shares of 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 valued at $339,000 after acquiring an additional 10,811 shares in the last quarter. 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.