Quantum-Si (NASDAQ:QSI) Shares Down 11.8% – Here’s Why

Quantum-Si incorporated (NASDAQ:QSI) dropped 11.8% during trading on Monday . The stock traded as low as $2.20 and last traded at $2.24. Approximately 23,045,930 shares traded hands during mid-day trading, a decline of 57% from the average daily volume of 53,240,412 shares. The stock had previously closed at $2.54.

Analysts Set New Price Targets

A number of analysts have recently issued reports on QSI shares. Canaccord Genuity Group dropped their price target on shares of Quantum-Si from $1.50 to $1.00 and set a “hold” rating on the stock in a report on Wednesday, November 13th. HC Wainwright reissued a “buy” rating and issued a $5.50 target price on shares of Quantum-Si in a report on Tuesday, January 14th.

Quantum-Si Trading Up 8.9 %

The business’s 50 day moving average is $1.89 and its two-hundred day moving average is $1.26. The company has a market cap of $348.21 million, a PE ratio of -3.81 and a beta of 2.74.

Insider Buying and Selling at Quantum-Si

In other news, Director Jonathan M. Rothberg sold 3,506,267 shares of the stock in a transaction on Friday, December 27th. The shares were sold at an average price of $3.34, for a total value of $11,710,931.78. Following the sale, the director now owns 1,250,000 shares of the company’s stock, valued at approximately $4,175,000. This represents a 73.72 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 30.04% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. XTX Topco Ltd purchased a new stake in shares of Quantum-Si during the 2nd quarter worth $25,000. SG Americas Securities LLC acquired a new stake in shares of Quantum-Si in the 3rd quarter worth $53,000. Green Alpha Advisors LLC grew its stake in Quantum-Si by 35.4% during the 3rd quarter. Green Alpha Advisors LLC now owns 175,055 shares of the company’s stock worth $154,000 after buying an additional 45,796 shares during the last quarter. Barclays PLC increased its holdings in shares of Quantum-Si by 210.5% during the third quarter. Barclays PLC now owns 196,826 shares of the company’s stock valued at $173,000 after acquiring an additional 133,438 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its stake in Quantum-Si by 3.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 322,460 shares of the company’s stock worth $339,000 after purchasing an additional 10,811 shares in the last quarter. 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.