Analysts Offer Predictions for Quantum-Si FY2024 Earnings

Quantum-Si incorporated (NASDAQ:QSI - Free Report) - Investment analysts at HC Wainwright upped their FY2024 earnings estimates for Quantum-Si in a research note issued to investors on Wednesday, November 13th. HC Wainwright analyst S. Ramakanth now forecasts that the company will earn ($0.65) per share for the year, up from their previous forecast of ($0.71). HC Wainwright has a "Buy" rating and a $4.00 price objective on the stock. The consensus estimate for Quantum-Si's current full-year earnings is ($0.65) per share. HC Wainwright also issued estimates for Quantum-Si's Q4 2024 earnings at ($0.18) EPS, Q1 2025 earnings at ($0.18) EPS, Q2 2025 earnings at ($0.17) EPS, Q3 2025 earnings at ($0.17) EPS, Q4 2025 earnings at ($0.17) EPS, FY2025 earnings at ($0.69) EPS, FY2026 earnings at ($0.56) EPS, FY2027 earnings at ($0.42) EPS and FY2028 earnings at ($0.22) EPS.

Separately, Canaccord Genuity Group reduced their target price on shares of Quantum-Si from $1.50 to $1.00 and set a "hold" rating for the company in a report on Wednesday, November 13th.

Quantum-Si Price Performance

Shares of NASDAQ:QSI traded down $0.05 on Monday, reaching $0.69. The company's stock had a trading volume of 732,870 shares, compared to its average volume of 680,564. The stock's 50-day moving average is $0.85 and its two-hundred day moving average is $1.10. Quantum-Si has a 52-week low of $0.68 and a 52-week high of $2.43. The stock has a market capitalization of $97.96 million, a P/E ratio of -1.13 and a beta of 2.89.

Institutional Trading of Quantum-Si

Several large investors have recently modified their holdings of the business. Geode Capital Management LLC grew its position in shares of Quantum-Si by 6.7% in the third quarter. Geode Capital Management LLC now owns 2,316,921 shares of the company's stock valued at $2,044,000 after purchasing an additional 145,091 shares during the last quarter. Barclays PLC grew its position in shares of Quantum-Si by 210.5% in the third quarter. Barclays PLC now owns 196,826 shares of the company's stock valued at $173,000 after purchasing an additional 133,438 shares during the last quarter. XTX Topco Ltd grew its stake in Quantum-Si by 81.3% in the 3rd quarter. XTX Topco Ltd now owns 43,812 shares of the company's stock worth $39,000 after acquiring an additional 19,651 shares during the period. Green Alpha Advisors LLC grew 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 acquiring an additional 45,796 shares during the period. Finally, SG Americas Securities LLC purchased a new stake in Quantum-Si in the 3rd quarter worth approximately $53,000. 39.90% of the stock is currently owned by institutional investors and hedge funds.

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.