Quantum-Si (NASDAQ:QSI) Trading Down 17.4% – Time to Sell?

Quantum-Si incorporated (NASDAQ:QSI)’s share price dropped 17.4% on Monday . The company traded as low as $2.07 and last traded at $2.19. Approximately 14,405,681 shares changed hands during mid-day trading, a decline of 80% from the average daily volume of 71,020,570 shares. The stock had previously closed at $2.65.

Wall Street Analyst Weigh In

Several research firms recently weighed in on QSI. Canaccord Genuity Group cut their price objective 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 reaffirmed a “buy” rating and set a $5.50 price objective on shares of Quantum-Si in a research report on Tuesday.

Quantum-Si Price Performance

The business has a 50 day moving average of $1.75 and a 200 day moving average of $1.21. The firm has a market capitalization of $335.38 million, a price-to-earnings ratio of -3.67 and a beta of 2.74.

Insider Transactions at Quantum-Si

In other news, Director Jonathan M. Rothberg sold 3,506,267 shares of the business’s stock in a transaction on 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 sale, the director now 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 30.04% of the stock is owned by insiders.

Hedge Funds Weigh In On Quantum-Si

Several institutional investors have recently added to or reduced their stakes in the company. Barclays PLC increased its holdings 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 buying an additional 133,438 shares in the last quarter. Geode Capital Management LLC grew its position 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 acquiring an additional 145,091 shares during the last quarter. SG Americas Securities LLC bought a new stake in Quantum-Si during the 3rd quarter worth approximately $53,000. XTX Topco Ltd increased its holdings in Quantum-Si by 81.3% during the 3rd quarter. XTX Topco Ltd now owns 43,812 shares of the company’s stock valued at $39,000 after purchasing an additional 19,651 shares in the last quarter. Finally, Green Alpha Advisors LLC raised its position in 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 last quarter. 39.90% of the stock is 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.