Canaccord Genuity Group Issues Positive Forecast for Quantum-Si (NASDAQ:QSI) Stock Price

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

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

Quantum-Si Trading Up 2.2%

Shares of NASDAQ:QSI opened at $2.34 on Monday. The company has a 50 day moving average of $1.56 and a 200 day moving average of $1.56. The stock has a market cap of $473.83 million, a P/E ratio of -3.44 and a beta of 2.89. Quantum-Si has a 12 month low of $0.61 and a 12 month high of $5.77.

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

Insider Buying and Selling

In other Quantum-Si news, insider Todd C. Bennett sold 18,482 shares of the business’s stock in a transaction that occurred on Monday, September 22nd. The shares were sold at an average price of $1.68, for a total value of $31,049.76. Following the completion of the transaction, the insider owned 700,003 shares of the company’s stock, valued at $1,176,005.04. The trade was a 2.57% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Jonathan M. Rothberg sold 26,095 shares of the business’s stock in a transaction that occurred on Thursday, October 16th. The stock was sold at an average price of $3.07, for a total transaction of $80,111.65. Following the completion of the transaction, the director directly 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 disclosure for this sale can be found here. In the last three months, insiders sold 68,936 shares of company stock valued at $152,085. Corporate insiders own 22.95% of the company’s stock.

Hedge Funds Weigh In On Quantum-Si

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Prudential Financial Inc. purchased a new position in Quantum-Si in the 2nd quarter worth approximately $25,000. JTC Employer Solutions Trustee Ltd bought a new stake in shares of Quantum-Si in the 2nd quarter worth approximately $26,000. Cerity Partners LLC bought a new stake in shares of Quantum-Si in the 2nd quarter worth approximately $29,000. Wolverine Asset Management LLC lifted its holdings in shares of Quantum-Si by 140.0% in the 2nd quarter. Wolverine Asset Management LLC now owns 16,501 shares of the company’s stock worth $32,000 after acquiring an additional 9,626 shares during the last quarter. Finally, Kingsview Wealth Management LLC lifted its holdings in shares of Quantum-Si by 99.9% in the 2nd quarter. Kingsview Wealth Management LLC now owns 20,012 shares of the company’s stock worth $39,000 after acquiring an additional 10,000 shares during the last quarter. Hedge funds and other 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.