Quantum-Si (NASDAQ:QSI) Price Target Lowered to $1.00 at Canaccord Genuity Group

Quantum-Si (NASDAQ:QSI) had its price objective cut by research analysts at Canaccord Genuity Group from $1.50 to $1.00 in a note issued to investors on Wednesday,Benzinga reports. The firm presently has a “hold” rating on the stock. Canaccord Genuity Group’s price objective would indicate a potential upside of 28.98% from the stock’s current price.

Quantum-Si Trading Down 22.4 %

Shares of NASDAQ:QSI opened at $0.78 on Wednesday. Quantum-Si has a 1-year low of $0.70 and a 1-year high of $2.43. The stock has a market cap of $110.37 million, a PE ratio of -1.23 and a beta of 2.89. The stock’s fifty day simple moving average is $0.86 and its two-hundred day simple moving average is $1.12.

Quantum-Si (NASDAQ:QSI) last released its earnings results on Tuesday, November 12th. The company reported ($0.18) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.21) by $0.03. Quantum-Si had a negative return on equity of 33.02% and a negative net margin of 5,249.65%. The company had revenue of $0.79 million during the quarter, compared to analyst estimates of $1.06 million. On average, sell-side analysts forecast that Quantum-Si will post -0.71 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the business. XTX Topco Ltd bought a new stake in Quantum-Si during the second quarter valued at $25,000. Public Employees Retirement System of Ohio purchased a new position in shares of Quantum-Si during the first quarter worth about $27,000. Bleakley Financial Group LLC bought a new position in shares of Quantum-Si in the first quarter worth approximately $28,000. SG Americas Securities LLC purchased a new stake in Quantum-Si in the third quarter valued at approximately $53,000. Finally, Virtu Financial LLC bought a new stake in Quantum-Si during the first quarter valued at approximately $98,000. 39.90% of the stock is currently owned by hedge funds and other 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.