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

Quantum-Si (NASDAQ:QSI) had its target price lowered by Canaccord Genuity Group from $1.50 to $1.00 in a research note issued to investors on Wednesday morning,Benzinga reports. The brokerage currently has a hold rating on the stock.

Quantum-Si Price Performance

NASDAQ:QSI opened at $0.73 on Wednesday. The company has a market capitalization of $104.54 million, a P/E ratio of -1.15 and a beta of 2.89. The business has a fifty day simple moving average of $0.85 and a two-hundred day simple moving average of $1.10. Quantum-Si has a 1 year low of $0.70 and a 1 year high of $2.43.

Institutional Investors Weigh In On Quantum-Si

Several institutional investors have recently added to or reduced their stakes in QSI. Jacobs Levy Equity Management Inc. purchased a new position in Quantum-Si during the 1st quarter valued at about $998,000. Geode Capital Management LLC grew its stake in Quantum-Si by 6.7% during the third quarter. Geode Capital Management LLC now owns 2,316,921 shares of the company’s stock valued at $2,044,000 after acquiring an additional 145,091 shares in the last quarter. Barclays PLC increased its holdings in 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. Vanguard Group Inc. lifted its stake in Quantum-Si by 1.6% in the 1st quarter. Vanguard Group Inc. now owns 5,300,685 shares of the company’s stock worth $10,442,000 after purchasing an additional 82,463 shares in the last quarter. Finally, SG Americas Securities LLC bought a new position in Quantum-Si in the 3rd quarter valued at $53,000. 39.90% of the stock is owned by hedge funds and other institutional investors.

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.