Quantum-Si (NASDAQ:QSI) Stock Price Down 8% – Time to Sell?

Quantum-Si incorporated (NASDAQ:QSI)’s share price fell 8% on Tuesday . The stock traded as low as $3.57 and last traded at $3.77. 9,200,919 shares were traded during mid-day trading, a decline of 90% from the average session volume of 93,592,078 shares. The stock had previously closed at $4.10.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on QSI shares. HC Wainwright raised their price target on Quantum-Si from $4.00 to $5.50 and gave the company a “buy” rating in a report on Thursday, November 21st. Canaccord Genuity Group decreased their target price on 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 Stock Performance

The firm’s fifty day simple moving average is $1.53 and its 200 day simple moving average is $1.15. The firm has a market cap of $513.77 million, a P/E ratio of -5.63 and a beta of 2.74.

Insider Buying and Selling at Quantum-Si

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

Hedge Funds Weigh In On Quantum-Si

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Geode Capital Management LLC raised its holdings 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 worth $2,044,000 after buying an additional 145,091 shares during the period. Bank of New York Mellon Corp lifted its position in shares of Quantum-Si by 3.5% during the second quarter. Bank of New York Mellon Corp now owns 322,460 shares of the company’s stock worth $339,000 after purchasing an additional 10,811 shares during the last quarter. Barclays PLC boosted its stake in shares of Quantum-Si by 210.5% during the third quarter. Barclays PLC now owns 196,826 shares of the company’s stock valued at $173,000 after purchasing an additional 133,438 shares during the period. Green Alpha Advisors LLC grew its holdings in shares of Quantum-Si by 35.4% in the third quarter. Green Alpha Advisors LLC now owns 175,055 shares of the company’s stock worth $154,000 after purchasing an additional 45,796 shares during the last quarter. Finally, SG Americas Securities LLC purchased a new position in Quantum-Si in the 3rd quarter worth about $53,000. Hedge funds and other institutional investors own 39.90% of the company’s stock.

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.