Quantum-Si (NASDAQ:QSI) Trading Down 4.8% – Should You Sell?

Quantum-Si incorporated (NASDAQ:QSI) dropped 4.8% during trading on Thursday . The stock traded as low as $2.26 and last traded at $2.27. Approximately 4,649,625 shares changed hands during mid-day trading, a decline of 91% from the average daily volume of 50,008,770 shares. The stock had previously closed at $2.38.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on QSI. HC Wainwright restated a “buy” rating and issued a $5.50 price objective on shares of Quantum-Si in a report on Tuesday, January 14th. Canaccord Genuity Group lowered their price target 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 Trading Up 1.9 %

The stock’s 50-day simple moving average is $1.92 and its 200-day simple moving average is $1.27. The stock has a market cap of $346.07 million, a price-to-earnings ratio of -3.77 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 company’s 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 completion of the sale, the director now directly 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 document filed with the Securities & Exchange Commission, which is available at the SEC website. 30.04% of the stock is owned by insiders.

Institutional Investors Weigh In On Quantum-Si

Hedge funds have recently made changes to their positions in the stock. Geode Capital Management LLC increased its position in shares of Quantum-Si by 6.7% during 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 during the period. Barclays PLC grew its holdings in 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. SG Americas Securities LLC bought a new stake in Quantum-Si in the third quarter valued at $53,000. Green Alpha Advisors LLC raised its holdings in shares of Quantum-Si by 35.4% during the third quarter. Green Alpha Advisors LLC now owns 175,055 shares of the company’s stock valued at $154,000 after purchasing an additional 45,796 shares during the period. Finally, XTX Topco Ltd bought a new position in shares of Quantum-Si during the 2nd quarter worth about $25,000. 39.90% of the stock is currently owned by institutional investors and hedge funds.

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.