Quantum-Si (NASDAQ:QSI) Shares Down 6.1% – Here’s Why

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

Analyst Ratings Changes

A number of research firms have recently commented on QSI. Canaccord Genuity Group dropped their target price 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. HC Wainwright restated a “buy” rating and issued a $5.50 price objective on shares of Quantum-Si in a research report on Tuesday.

Quantum-Si Price Performance

The company’s fifty day simple moving average is $1.81 and its 200-day simple moving average is $1.23. The firm has a market capitalization of $317.53 million, a PE ratio of -3.48 and a beta of 2.74.

Insider Activity at Quantum-Si

In related news, Director Jonathan M. Rothberg sold 3,506,267 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the director now directly 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 document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 30.04% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Quantum-Si

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Geode Capital Management LLC lifted 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 buying an additional 145,091 shares in the last quarter. Barclays PLC raised its holdings 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 during the last quarter. SG Americas Securities LLC purchased a new stake in shares of Quantum-Si in the third quarter valued at approximately $53,000. Green Alpha Advisors LLC raised its stake in Quantum-Si by 35.4% during 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. Finally, XTX Topco Ltd acquired a new stake in Quantum-Si during the second quarter worth $25,000. Institutional investors and hedge funds 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.