Quantum-Si (NASDAQ:QSI) Trading Down 6.1% – Time to Sell?

Quantum-Si incorporated (NASDAQ:QSI) shares fell 6.1% during trading on Friday . The stock traded as low as $2.27 and last traded at $2.39. 10,966,264 shares traded hands during trading, a decline of 81% from the average session volume of 58,671,984 shares. The stock had previously closed at $2.54.

Wall Street Analysts Forecast Growth

QSI has been the subject of several research reports. HC Wainwright reiterated a “buy” rating and issued a $5.50 target price on shares of Quantum-Si in a report on Tuesday. Canaccord Genuity Group cut their target price on shares of 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 Down 12.4 %

The company has a market cap of $317.53 million, a PE ratio of -3.48 and a beta of 2.74. The firm has a 50 day simple moving average of $1.81 and a 200-day simple moving average of $1.23.

Insider Buying and Selling

In other news, Director Jonathan M. Rothberg sold 3,506,267 shares of the business’s 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 sale, the director now owns 1,250,000 shares in the company, valued at approximately $4,175,000. The trade was a 73.72 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 30.04% of the stock is currently owned by company insiders.

Institutional Trading of Quantum-Si

Large investors have recently bought and sold shares of the stock. Geode Capital Management LLC raised its stake in shares of Quantum-Si by 6.7% in the third quarter. Geode Capital Management LLC now owns 2,316,921 shares of the company’s stock worth $2,044,000 after purchasing an additional 145,091 shares during the last quarter. Barclays PLC raised its position in Quantum-Si by 210.5% during the 3rd quarter. Barclays PLC now owns 196,826 shares of the company’s stock worth $173,000 after buying an additional 133,438 shares during the last quarter. SG Americas Securities LLC acquired a new stake in Quantum-Si during the 3rd quarter valued at approximately $53,000. Green Alpha Advisors LLC increased its stake 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 acquiring an additional 45,796 shares during the period. Finally, XTX Topco Ltd purchased a new position in shares of Quantum-Si during the second quarter worth $25,000. Hedge funds and other institutional investors own 39.90% of the company’s stock.

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.