Quantum-Si (NASDAQ:QSI) Trading Down 6.1% – Should You Sell?

Quantum-Si incorporated (NASDAQ:QSI)’s share price dropped 6.1% during trading on Friday . The stock traded as low as $2.27 and last traded at $2.39. Approximately 10,966,264 shares were traded during mid-day trading, a decline of 81% from the average daily volume of 58,671,984 shares. The stock had previously closed at $2.54.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on QSI shares. Canaccord Genuity Group dropped their target price on 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 reaffirmed a “buy” rating and set a $5.50 price objective on shares of Quantum-Si in a report on Tuesday, January 14th.

Quantum-Si Stock Performance

The company’s 50 day simple moving average is $1.83 and its 200 day simple moving average is $1.24. The stock has a market cap of $319.68 million, a PE ratio of -3.50 and a beta of 2.74.

Insider Activity

In related news, Director Jonathan M. Rothberg sold 3,506,267 shares of the business’s stock in a transaction dated 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 transaction, the director now directly owns 1,250,000 shares of the company’s stock, valued at approximately $4,175,000. The trade was a 73.72 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 30.04% of the stock is currently owned by corporate insiders.

Institutional Trading of Quantum-Si

Hedge funds have recently added to or reduced their stakes in the stock. SG Americas Securities LLC increased its stake in shares of Quantum-Si by 12.4% during the 4th quarter. SG Americas Securities LLC now owns 67,588 shares of the company’s stock worth $182,000 after purchasing an additional 7,470 shares during the last quarter. Barclays PLC increased its position 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 buying an additional 133,438 shares during the last quarter. 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 buying an additional 145,091 shares during the period. XTX Topco Ltd lifted its position in shares of Quantum-Si by 81.3% during the 3rd quarter. XTX Topco Ltd now owns 43,812 shares of the company’s stock valued at $39,000 after buying an additional 19,651 shares during the last quarter. Finally, Green Alpha Advisors LLC grew its stake 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 worth $154,000 after acquiring an additional 45,796 shares during the period. 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.