Quantum-Si (NASDAQ:QSI) Shares Down 8% - What's Next?

Shares of Quantum-Si incorporated (NASDAQ:QSI - Get Free Report) dropped 8% during trading on Tuesday . The stock traded as low as $3.57 and last traded at $3.77. Approximately 9,200,919 shares changed hands during mid-day trading, a decline of 90% from the average daily volume of 93,592,078 shares. The stock had previously closed at $4.10.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the company. Canaccord Genuity Group reduced their target price on Quantum-Si from $1.50 to $1.00 and set a "hold" rating for the company in a report on Wednesday, November 13th. HC Wainwright boosted their price objective on Quantum-Si from $4.00 to $5.50 and gave the company a "buy" rating in a research note on Thursday, November 21st.

Quantum-Si Stock Performance

The stock has a market cap of $498.07 million, a price-to-earnings ratio of -5.45 and a beta of 2.74. The business's fifty day simple moving average is $1.59 and its 200 day simple moving average is $1.17.

Insiders Place Their Bets

In related news, Director Jonathan M. Rothberg sold 3,506,267 shares of Quantum-Si stock in a transaction dated 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 directly owns 1,250,000 shares in the company, valued at $4,175,000. This trade represents a 73.72 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 30.04% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in QSI. Bank of New York Mellon Corp grew its holdings in shares of Quantum-Si by 3.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 322,460 shares of the company's stock worth $339,000 after acquiring an additional 10,811 shares during the last quarter. XTX Topco Ltd lifted its stake in Quantum-Si by 81.3% during the third quarter. XTX Topco Ltd now owns 43,812 shares of the company's stock valued at $39,000 after buying an additional 19,651 shares in the last quarter. Green Alpha Advisors LLC boosted its holdings in shares of Quantum-Si by 35.4% in the third 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. SG Americas Securities LLC purchased a new position in shares of Quantum-Si in the third quarter worth approximately $53,000. Finally, Barclays PLC raised 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 valued at $173,000 after acquiring an additional 133,438 shares during the period. 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.