Quantum-Si (NASDAQ:QSI) Stock Price Up 6.7% – Here’s Why

Shares of Quantum-Si incorporated (NASDAQ:QSI) traded up 6.7% on Tuesday . The company traded as high as $2.38 and last traded at $2.06. 18,007,610 shares were traded during mid-day trading, a decline of 73% from the average session volume of 66,435,195 shares. The stock had previously closed at $1.93.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on QSI shares. HC Wainwright reiterated a “buy” rating and issued a $5.50 price objective on shares of Quantum-Si in a research report on Tuesday. Canaccord Genuity Group reduced their price objective on Quantum-Si from $1.50 to $1.00 and set a “hold” rating for the company in a research report on Wednesday, November 13th.

Quantum-Si Stock Up 8.1 %

The business’s 50 day moving average is $1.78 and its two-hundred day moving average is $1.22. The firm has a market capitalization of $362.48 million, a P/E ratio of -3.97 and a beta of 2.74.

Insiders Place Their Bets

In other news, Director Jonathan M. Rothberg sold 3,506,267 shares of the business’s stock in a transaction on Friday, December 27th. The stock was 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. The trade was a 73.72 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 30.04% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. XTX Topco Ltd acquired a new stake in Quantum-Si in the 2nd quarter valued at about $25,000. SG Americas Securities LLC acquired a new stake in Quantum-Si during the third quarter valued at approximately $53,000. Green Alpha Advisors LLC boosted its holdings in Quantum-Si by 35.4% during the third 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 in the last quarter. Barclays PLC grew 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. Finally, Bank of New York Mellon Corp increased its holdings in shares of Quantum-Si by 3.5% in the second 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. 39.90% of the stock is owned by institutional investors and hedge funds.

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.