Quantum-Si (NASDAQ:QSI) Shares Up 0.6% – Still a Buy?

Shares of Quantum-Si incorporated (NASDAQ:QSI) shot up 0.6% during trading on Friday . The company traded as high as $2.47 and last traded at $2.43. 6,955,087 shares changed hands during mid-day trading, a decline of 85% from the average session volume of 47,458,070 shares. The stock had previously closed at $2.41.

Wall Street Analyst Weigh In

QSI has been the subject of several research analyst reports. HC Wainwright reissued a “buy” rating and set a $5.50 target price on shares of Quantum-Si in a research note on Tuesday, January 14th. Canaccord Genuity Group lowered their target price on Quantum-Si from $1.50 to $1.00 and set a “hold” rating for the company in a research note on Wednesday, November 13th.

Quantum-Si Stock Down 3.5 %

The company has a 50 day simple moving average of $1.96 and a 200-day simple moving average of $1.28. The stock has a market capitalization of $331.80 million, a price-to-earnings ratio of -3.65 and a beta of 2.74.

Insider Transactions at Quantum-Si

In other news, Director Jonathan M. Rothberg sold 3,506,267 shares of the company’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 transaction, the director now directly owns 1,250,000 shares of the company’s stock, valued at $4,175,000. This represents a 73.72 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 30.04% of the stock is owned by insiders.

Hedge Funds Weigh In On Quantum-Si

Several large investors have recently bought and sold shares of QSI. Bank of New York Mellon Corp lifted its stake in Quantum-Si by 3.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 322,460 shares of the company’s stock valued at $339,000 after acquiring an additional 10,811 shares in the last quarter. XTX Topco Ltd purchased a new stake in shares of Quantum-Si during the 2nd quarter valued at $25,000. SG Americas Securities LLC purchased a new stake in shares of Quantum-Si during the 3rd quarter valued at $53,000. Green Alpha Advisors LLC increased its position in shares of Quantum-Si by 35.4% during the 3rd 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 last quarter. Finally, Barclays PLC increased its position in shares of Quantum-Si by 210.5% during the 3rd quarter. Barclays PLC now owns 196,826 shares of the company’s stock valued at $173,000 after purchasing an additional 133,438 shares during the last quarter. 39.90% of the stock is currently owned by institutional investors.

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.