Quantum-Si (NASDAQ:QSI) Trading Up 39.6% – Here’s What Happened

Quantum-Si incorporated (NASDAQ:QSI) shares were 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 changed hands during 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

QSI has been the subject of several research analyst reports. Canaccord Genuity Group decreased their price target on shares of Quantum-Si from $1.50 to $1.00 and set a “hold” rating for the company in a research note on Wednesday, November 13th. HC Wainwright lifted their target price on Quantum-Si from $4.00 to $5.50 and gave the company a “buy” rating in a research report on Thursday, November 21st.

Quantum-Si Stock Performance

The firm’s 50 day simple moving average is $1.46 and its 200 day simple moving average is $1.13. The firm has a market capitalization of $612.24 million, a price-to-earnings ratio of -6.70 and a beta of 3.20.

Insider Activity

In related news, Director Jonathan M. Rothberg sold 3,506,267 shares of Quantum-Si stock in a transaction dated 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 directly owns 1,250,000 shares in the company, 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 SEC, which is accessible through this hyperlink. Company insiders own 30.04% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of QSI. XTX Topco Ltd acquired a new position in Quantum-Si in the 2nd quarter valued at about $25,000. SG Americas Securities LLC purchased a new stake in shares of Quantum-Si during the 3rd quarter valued at approximately $53,000. Green Alpha Advisors LLC lifted its holdings in Quantum-Si by 35.4% in the third 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 during 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 acquiring an additional 133,438 shares during the period. Finally, Bank of New York Mellon Corp increased its stake in 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 acquiring an additional 10,811 shares during the last quarter. 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.