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

Quantum-Si incorporated (NASDAQ:QSI) shot up 1.3% on Thursday . The company 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 brokerages have recently weighed in on QSI. Canaccord Genuity Group cut 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 restated a “buy” rating and issued a $5.50 target price on shares of Quantum-Si in a research note on Tuesday.

Quantum-Si Stock Down 11.8 %

The firm has a 50 day moving average of $1.83 and a 200 day moving average of $1.24. The firm has a market cap of $319.68 million, a PE ratio of -3.50 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 on 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 sale, the director now owns 1,250,000 shares in the company, valued at $4,175,000. This represents a 73.72 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 30.04% of the stock is owned by company insiders.

Institutional Investors Weigh In On Quantum-Si

Several institutional investors have recently made changes to their positions in QSI. XTX Topco Ltd bought a new position in shares of Quantum-Si in the second quarter worth $25,000. SG Americas Securities LLC bought a new position in shares of Quantum-Si in the third quarter worth $53,000. Green Alpha Advisors LLC increased its holdings in shares of 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 purchasing an additional 45,796 shares during the period. Barclays PLC increased its holdings in shares of 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 purchasing an additional 133,438 shares during the period. Finally, Bank of New York Mellon Corp increased its holdings in shares of Quantum-Si by 3.5% in the second quarter. Bank of New York Mellon Corp now owns 322,460 shares of the company’s stock worth $339,000 after purchasing an additional 10,811 shares during the period. 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.