Quantum-Si (NASDAQ:QSI) Hits New 12-Month High – Should You Buy?

Shares of Quantum-Si incorporated (NASDAQ:QSI) reached a new 52-week high on Friday . The company traded as high as $5.32 and last traded at $5.09, with a volume of 49363891 shares. The stock had previously closed at $4.26.

Analyst Ratings Changes

Several brokerages recently issued reports on QSI. HC Wainwright boosted their price target on 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 lowered their price objective on Quantum-Si from $1.50 to $1.00 and set a “hold” rating on the stock in a research report on Wednesday, November 13th.

Quantum-Si Stock Performance

The firm has a market capitalization of $714.99 million, a price-to-earnings ratio of -7.83 and a beta of 3.20. The firm’s 50-day moving average price is $1.39 and its two-hundred day moving average price is $1.11.

Insider Activity

In other news, Director Jonathan M. Rothberg sold 3,506,267 shares of the company’s stock in a transaction dated 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 sale, the director now owns 1,250,000 shares of the company’s stock, 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 available through the SEC website. Corporate insiders own 30.04% of the company’s stock.

Hedge Funds Weigh In On Quantum-Si

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Bank of New York Mellon Corp raised its position 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 valued at $339,000 after purchasing an additional 10,811 shares during the last quarter. XTX Topco Ltd bought a new position in shares of Quantum-Si in the second quarter valued at about $25,000. SG Americas Securities LLC acquired a new position in Quantum-Si during the 3rd quarter worth about $53,000. Green Alpha Advisors LLC grew its holdings in Quantum-Si by 35.4% during the 3rd quarter. Green Alpha Advisors LLC now owns 175,055 shares of the company’s stock worth $154,000 after acquiring an additional 45,796 shares during the last quarter. Finally, Barclays PLC increased its position in 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. 39.90% of the stock is currently owned by institutional investors and hedge funds.

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.