Quantum-Si (NASDAQ:QSI) Shares Up 39.6% – Still a Buy?

Quantum-Si incorporated (NASDAQ:QSI) was up 39.6% during mid-day trading on Thursday . The company traded as high as $3.79 and last traded at $3.77. Approximately 67,820,135 shares traded hands during mid-day trading, an increase of 1,205% from the average daily volume of 5,195,960 shares. The stock had previously closed at $2.70.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. HC Wainwright upped their target price on Quantum-Si from $4.00 to $5.50 and gave the stock a “buy” rating in a research report on Thursday, November 21st. 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 research note on Wednesday, November 13th.

Quantum-Si Trading Up 41.5 %

The stock has a market cap of $545.16 million, a P/E ratio of -5.97 and a beta of 3.20. The firm’s fifty day moving average is $1.32 and its 200 day moving average is $1.09.

Insider Buying and Selling

In other news, Director Jonathan M. Rothberg sold 3,506,267 shares of the company’s stock in a transaction dated Friday, December 27th. The shares were sold at an average price of $3.34, for a total transaction of $11,710,931.78. Following the completion of the transaction, 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 filing with the Securities & Exchange Commission, which is accessible through the SEC website. 30.04% of the stock is owned by insiders.

Institutional Trading of Quantum-Si

A number of hedge funds have recently modified their holdings of the company. Geode Capital Management LLC raised 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 valued at $2,044,000 after purchasing an additional 145,091 shares in the last quarter. Bank of New York Mellon Corp raised its stake in shares of 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 valued at $339,000 after buying an additional 10,811 shares in the last quarter. Barclays PLC lifted its holdings in shares of Quantum-Si by 210.5% during the 3rd quarter. Barclays PLC now owns 196,826 shares of the company’s stock worth $173,000 after acquiring an additional 133,438 shares during the period. Green Alpha Advisors LLC boosted 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 acquiring an additional 45,796 shares in the last quarter. Finally, SG Americas Securities LLC bought a new stake in Quantum-Si in the third quarter valued at about $53,000. Institutional investors 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.