Quantum-Si (NASDAQ:QSI) Sets New 12-Month High – Time to Buy?

Shares of Quantum-Si incorporated (NASDAQ:QSI) hit a new 52-week high during mid-day trading on Friday . The company traded as high as $3.57 and last traded at $3.57, with a volume of 47861012 shares. The stock had previously closed at $2.15.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. Canaccord Genuity Group dropped their target price 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. HC Wainwright upped their target price on shares of 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 Up 49.7 %

The company has a market capitalization of $459.24 million, a price-to-earnings ratio of -5.03 and a beta of 3.20. The company’s fifty day simple moving average is $1.14 and its two-hundred day simple moving average is $1.05.

Hedge Funds Weigh In On Quantum-Si

Several institutional investors have recently modified their holdings of QSI. Geode Capital Management LLC raised its holdings in Quantum-Si by 6.7% during the 3rd 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. Barclays PLC increased its position in shares of Quantum-Si by 210.5% during 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 in the last quarter. SG Americas Securities LLC bought a new stake in Quantum-Si in the 3rd quarter valued at $53,000. Green Alpha Advisors LLC boosted its stake in Quantum-Si by 35.4% in the 3rd 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 period. Finally, XTX Topco Ltd bought a new position in Quantum-Si during the 2nd quarter worth about $25,000. 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.