Quantum-Si (NASDAQ:QSI) Shares Up 39.6% – Should You Buy?

Shares of Quantum-Si incorporated (NASDAQ:QSI) shot up 39.6% during trading on Thursday . The stock traded as high as $3.79 and last traded at $3.77. 67,820,135 shares were traded during mid-day trading, an increase of 1,205% from the average session volume of 5,195,960 shares. The stock had previously closed at $2.70.

Wall Street Analyst Weigh In

QSI has been the topic of a number of recent research reports. HC Wainwright upped their price objective on Quantum-Si from $4.00 to $5.50 and gave the stock a “buy” rating in a research report on Thursday, November 21st. Canaccord Genuity Group cut their price target on Quantum-Si from $1.50 to $1.00 and set a “hold” rating on the stock in a report on Wednesday, November 13th.

Quantum-Si Trading Up 0.7 %

The firm’s fifty day simple moving average is $1.46 and its 200 day simple moving average is $1.13. The company has a market cap of $612.24 million, a price-to-earnings ratio of -6.70 and a beta of 3.20.

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 stock was sold at an average price of $3.34, for a total value of $11,710,931.78. Following the completion of the transaction, the director now directly owns 1,250,000 shares of the company’s stock, valued at $4,175,000. This represents a 73.72 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 30.04% of the company’s stock.

Institutional Trading of Quantum-Si

Several institutional investors have recently modified their holdings of QSI. Bank of New York Mellon Corp increased its position in Quantum-Si by 3.5% during the second quarter. Bank of New York Mellon Corp now owns 322,460 shares of the company’s stock worth $339,000 after buying an additional 10,811 shares during the period. XTX Topco Ltd purchased a new stake in Quantum-Si in the 2nd quarter valued at $25,000. SG Americas Securities LLC purchased a new stake in Quantum-Si in the 3rd quarter valued at $53,000. Green Alpha Advisors LLC raised its position in Quantum-Si by 35.4% in the 3rd quarter. Green Alpha Advisors LLC now owns 175,055 shares of the company’s stock valued at $154,000 after purchasing an additional 45,796 shares during the last quarter. Finally, Barclays PLC boosted its stake in Quantum-Si by 210.5% during the 3rd quarter. Barclays PLC now owns 196,826 shares of the company’s stock worth $173,000 after purchasing an additional 133,438 shares during the period. Hedge funds and other institutional investors 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.