Quantum-Si (NASDAQ:QSI) Given “Hold” Rating at Canaccord Genuity Group

Quantum-Si (NASDAQ:QSI)‘s stock had its “hold” rating reiterated by equities researchers at Canaccord Genuity Group in a research report issued on Tuesday,Benzinga reports. They currently have a $1.00 target price on the stock. Canaccord Genuity Group’s price objective indicates a potential downside of 6.98% from the stock’s current price.

Other equities analysts have also recently issued research reports about the company. Alliance Global Partners restated a “buy” rating on shares of Quantum-Si in a report on Friday, May 16th. HC Wainwright reissued a “buy” rating and issued a $5.50 target price on shares of Quantum-Si in a report on Monday, May 19th. Two analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $3.48.

Quantum-Si Stock Up 1.4%

Shares of Quantum-Si stock opened at $1.08 on Tuesday. Quantum-Si has a 52 week low of $0.61 and a 52 week high of $5.77. The stock’s 50-day simple moving average is $1.47 and its 200-day simple moving average is $1.45. The company has a market capitalization of $217.68 million, a price-to-earnings ratio of -1.58 and a beta of 2.85.

Quantum-Si (NASDAQ:QSI) last announced its quarterly earnings data on Tuesday, August 5th. The company reported ($0.16) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.16). Quantum-Si had a negative net margin of 3,120.14% and a negative return on equity of 44.57%. The business had revenue of $0.59 million during the quarter, compared to analyst estimates of $1.28 million. On average, equities analysts expect that Quantum-Si will post -0.65 earnings per share for the current year.

Insider Activity at Quantum-Si

In other news, insider John S. Vieceli sold 21,923 shares of Quantum-Si stock in a transaction on Monday, June 23rd. The stock was sold at an average price of $1.61, for a total transaction of $35,296.03. Following the completion of the sale, the insider directly owned 842,586 shares in the company, valued at approximately $1,356,563.46. This trade represents a 2.54% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Jeffrey Alan Hawkins sold 23,705 shares of the company’s stock in a transaction dated Monday, June 23rd. The stock was sold at an average price of $1.61, for a total transaction of $38,165.05. Following the completion of the transaction, the chief executive officer owned 2,623,011 shares in the company, valued at approximately $4,223,047.71. The trade was a 0.90% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 54,252 shares of company stock worth $87,346. Company insiders own 22.95% of the company’s stock.

Hedge Funds Weigh In On Quantum-Si

A number of hedge funds have recently added to or reduced their stakes in the stock. Millennium Management LLC bought a new position in Quantum-Si in the first quarter worth approximately $4,721,000. Geode Capital Management LLC lifted its holdings in shares of Quantum-Si by 15.1% in the 2nd quarter. Geode Capital Management LLC now owns 3,447,738 shares of the company’s stock worth $6,759,000 after buying an additional 452,850 shares during the period. Bank of America Corp DE lifted its holdings in shares of Quantum-Si by 426.6% in the 2nd quarter. Bank of America Corp DE now owns 465,999 shares of the company’s stock worth $913,000 after buying an additional 377,504 shares during the period. Nuveen LLC bought a new position in shares of Quantum-Si during the 1st quarter worth $383,000. Finally, Ameriprise Financial Inc. purchased a new stake in Quantum-Si in the second quarter worth about $437,000. 39.90% of the stock is currently owned by institutional investors.

Quantum-Si Company Profile

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.