Quantum-Si (NASDAQ:QSI) Shares Down 11.8% - Time to Sell?

Shares of Quantum-Si incorporated (NASDAQ:QSI - Get Free Report) fell 11.8% during mid-day trading on Monday . The company traded as low as $2.20 and last traded at $2.24. 23,045,930 shares changed hands during trading, a decline of 57% from the average session volume of 53,240,412 shares. The stock had previously closed at $2.54.

Analysts Set New Price Targets

Several equities analysts have issued reports on QSI shares. Canaccord Genuity Group cut their target price on Quantum-Si from $1.50 to $1.00 and set a "hold" rating on the stock in a research note on Wednesday, November 13th. HC Wainwright restated a "buy" rating and set a $5.50 price objective on shares of Quantum-Si in a research report on Tuesday, January 14th.

Quantum-Si Stock Down 2.3 %

The firm has a market cap of $340.36 million, a PE ratio of -3.73 and a beta of 2.74. The company's fifty day moving average price is $1.89 and its two-hundred day moving average price is $1.26.

Insider Buying and Selling

In related news, Director Jonathan M. Rothberg sold 3,506,267 shares of the company's stock in a transaction that occurred on Friday, December 27th. The shares were sold at an average price of $3.34, for a total transaction of $11,710,931.78. Following the transaction, the director now owns 1,250,000 shares of the company's stock, valued at approximately $4,175,000. This represents a 73.72 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 30.04% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Geode Capital Management LLC boosted its holdings in Quantum-Si by 6.7% in 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 period. Bank of New York Mellon Corp boosted its stake in shares of Quantum-Si by 3.5% in the second quarter. Bank of New York Mellon Corp now owns 322,460 shares of the company's stock valued at $339,000 after purchasing an additional 10,811 shares during the period. Barclays PLC grew its holdings in Quantum-Si by 210.5% during the 3rd quarter. Barclays PLC now owns 196,826 shares of the company's stock valued at $173,000 after purchasing an additional 133,438 shares in the last quarter. Green Alpha Advisors LLC increased its stake in Quantum-Si by 35.4% during the 3rd quarter. Green Alpha Advisors LLC now owns 175,055 shares of the company's stock worth $154,000 after buying an additional 45,796 shares during the period. Finally, SG Americas Securities LLC lifted its holdings in Quantum-Si by 12.4% in the 4th quarter. SG Americas Securities LLC now owns 67,588 shares of the company's stock worth $182,000 after buying an additional 7,470 shares in the last quarter. Institutional investors and hedge funds own 39.90% of the company's stock.

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.