Quantum-Si (NASDAQ:QSI) Shares Up 9.8% – Time to Buy?

Quantum-Si incorporated (NASDAQ:QSI) shot up 9.8% during mid-day trading on Wednesday . The stock traded as high as $2.54 and last traded at $2.23. 26,294,749 shares were traded during trading, a decline of 59% from the average session volume of 63,821,848 shares. The stock had previously closed at $2.03.

Analyst Ratings Changes

Several analysts recently commented on QSI shares. Canaccord Genuity Group lowered their target price on Quantum-Si from $1.50 to $1.00 and set a “hold” rating on the stock in a research report on Wednesday, November 13th. HC Wainwright reissued a “buy” rating and issued a $5.50 price target on shares of Quantum-Si in a research note on Tuesday.

Quantum-Si Price Performance

The firm has a market capitalization of $319.67 million, a P/E ratio of -3.50 and a beta of 2.74. The firm’s fifty day moving average price is $1.81 and its 200-day moving average price is $1.23.

Insider Activity

In other news, Director Jonathan M. Rothberg sold 3,506,267 shares of the firm’s stock in a transaction dated Friday, December 27th. The shares were sold at an average price of $3.34, for a total transaction of $11,710,931.78. Following the completion of the transaction, the director now owns 1,250,000 shares in the company, valued at approximately $4,175,000. This trade represents a 73.72 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 30.04% of the stock is owned by insiders.

Institutional Trading of Quantum-Si

A number of large investors have recently added to or reduced their stakes in the business. XTX Topco Ltd bought a new position in shares of Quantum-Si in the second quarter valued at $25,000. SG Americas Securities LLC purchased a new stake in shares of Quantum-Si during the third quarter valued at $53,000. Green Alpha Advisors LLC boosted its position in shares of Quantum-Si by 35.4% in the 3rd quarter. Green Alpha Advisors LLC now owns 175,055 shares of the company’s stock valued at $154,000 after purchasing an additional 45,796 shares during the period. Barclays PLC increased its stake in Quantum-Si by 210.5% in the 3rd quarter. Barclays PLC now owns 196,826 shares of the company’s stock worth $173,000 after purchasing an additional 133,438 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its holdings in Quantum-Si by 3.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 322,460 shares of the company’s stock worth $339,000 after buying an additional 10,811 shares during the period. 39.90% of the stock is currently owned by 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.