Quantum-Si (NASDAQ:QSI) Price Target Raised to $2.00

Quantum-Si (NASDAQ:QSI) had its target price raised by Canaccord Genuity Group from $1.00 to $2.00 in a report issued on Monday morning, Marketbeat reports. The brokerage currently has a hold rating on the stock.

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of Quantum-Si in a research note on Wednesday, October 8th. Two equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $3.73.

Quantum-Si Stock Performance

NASDAQ:QSI opened at $2.14 on Monday. Quantum-Si has a 52 week low of $0.61 and a 52 week high of $5.77. The company has a market capitalization of $433.33 million, a price-to-earnings ratio of -3.15 and a beta of 2.89. The company has a 50-day moving average of $1.60 and a 200-day moving average of $1.57.

Quantum-Si (NASDAQ:QSI) last posted its quarterly earnings data on Tuesday, August 5th. The company reported ($0.16) earnings per share for the quarter, meeting the consensus estimate of ($0.16). Quantum-Si had a negative net margin of 3,120.14% and a negative return on equity of 44.57%. The firm had revenue of $0.59 million during the quarter, compared to analysts’ expectations of $1.28 million. Sell-side analysts forecast that Quantum-Si will post -0.65 EPS for the current year.

Insider Transactions at Quantum-Si

In other Quantum-Si news, Director Jonathan M. Rothberg sold 26,095 shares of the stock in a transaction that occurred on Thursday, October 16th. The shares were sold at an average price of $3.07, for a total transaction of $80,111.65. Following the completion of the sale, the director owned 1,904,866 shares of the company’s stock, valued at approximately $5,847,938.62. This represents a 1.35% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Todd C. Bennett sold 18,482 shares of the stock in a transaction that occurred on Monday, September 22nd. The shares were sold at an average price of $1.68, for a total transaction of $31,049.76. Following the sale, the insider directly owned 700,003 shares of the company’s stock, valued at $1,176,005.04. This represents a 2.57% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 68,936 shares of company stock valued at $152,085 in the last three months. Company insiders own 30.04% of the company’s stock.

Hedge Funds Weigh In On Quantum-Si

A number of large investors have recently modified their holdings of QSI. Verdence Capital Advisors LLC bought a new position in Quantum-Si during the 3rd quarter valued at $231,000. SG Americas Securities LLC grew its holdings in Quantum-Si by 30.8% during the 3rd quarter. SG Americas Securities LLC now owns 42,107 shares of the company’s stock valued at $59,000 after buying an additional 9,926 shares in the last quarter. JTC Employer Solutions Trustee Ltd grew its holdings in Quantum-Si by 158.9% during the 3rd quarter. JTC Employer Solutions Trustee Ltd now owns 34,540 shares of the company’s stock valued at $49,000 after buying an additional 21,200 shares in the last quarter. Wealth Management Associates Inc. grew its holdings in Quantum-Si by 14.8% during the 3rd quarter. Wealth Management Associates Inc. now owns 30,950 shares of the company’s stock valued at $44,000 after buying an additional 4,000 shares in the last quarter. Finally, Elite Life Management LLC bought a new stake in shares of Quantum-Si during the 3rd quarter valued at about $29,000. 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.