Quantum-Si (NASDAQ:QSI) Stock Price Up 6.7% - Here's Why

Shares of Quantum-Si incorporated (NASDAQ:QSI - Get Free Report) traded up 6.7% on Tuesday . The company traded as high as $2.38 and last traded at $2.06. 18,007,610 shares were traded during mid-day trading, a decline of 73% from the average session volume of 66,435,195 shares. The stock had previously closed at $1.93.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on QSI shares. HC Wainwright reiterated a "buy" rating and issued a $5.50 price objective on shares of Quantum-Si in a research report on Tuesday. Canaccord Genuity Group reduced 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.

Quantum-Si Stock Up 8.1 %

The business's 50 day moving average is $1.78 and its two-hundred day moving average is $1.22. The firm has a market capitalization of $362.48 million, a P/E ratio of -3.97 and a beta of 2.74.

Insiders Place Their Bets

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 stock was 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 of the company's stock, valued at approximately $4,175,000. The trade was a 73.72 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 30.04% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. XTX Topco Ltd acquired a new stake in Quantum-Si in the 2nd quarter valued at about $25,000. SG Americas Securities LLC acquired a new stake in Quantum-Si during the third quarter valued at approximately $53,000. Green Alpha Advisors LLC boosted its holdings in Quantum-Si by 35.4% during 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 in the last quarter. Barclays PLC grew its position in Quantum-Si by 210.5% in 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 during the last quarter. Finally, Bank of New York Mellon Corp increased its holdings 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 buying an additional 10,811 shares in the last quarter. 39.90% of the stock is 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.