Canaccord Genuity Group Cuts Quantum-Si (NASDAQ:QSI) Price Target to $1.50

Quantum-Si (NASDAQ:QSI) had its target price cut by Canaccord Genuity Group from $2.00 to $1.50 in a report released on Monday morning, Marketbeat Ratings reports. They currently have a hold rating on the stock.

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of Quantum-Si in a report on Monday, December 8th. Two research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $3.60.

Quantum-Si Stock Up 5.3%

QSI stock opened at $1.30 on Monday. The firm has a market capitalization of $279.06 million, a PE ratio of -1.93 and a beta of 2.96. Quantum-Si has a twelve month low of $0.95 and a twelve month high of $5.77. The stock’s 50 day moving average is $1.61 and its 200-day moving average is $1.58.

Quantum-Si (NASDAQ:QSI) last released its quarterly earnings results on Wednesday, November 5th. The company reported ($0.17) EPS for the quarter, meeting analysts’ consensus estimates of ($0.17). Quantum-Si had a negative return on equity of 47.90% and a negative net margin of 3,677.97%.The business had revenue of $0.55 million during the quarter, compared to analyst estimates of $0.60 million. On average, equities research analysts anticipate that Quantum-Si will post -0.65 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO Jeffrey Alan Hawkins sold 23,707 shares of Quantum-Si stock in a transaction on Monday, December 22nd. The stock was sold at an average price of $1.28, for a total transaction of $30,344.96. Following the sale, the chief executive officer directly owned 2,578,018 shares in the company, valued at $3,299,863.04. The trade was a 0.91% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Jonathan M. Rothberg sold 26,095 shares of the stock in a transaction dated Thursday, October 16th. The shares were sold at an average price of $3.07, for a total transaction of $80,111.65. Following the transaction, the director owned 1,904,866 shares of the company’s stock, valued at approximately $5,847,938.62. The trade was a 1.35% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 80,356 shares of company stock valued at $149,566 in the last ninety days. 30.04% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Quantum-Si

Several large investors have recently modified their holdings of QSI. Prudential Financial Inc. bought a new stake in shares of Quantum-Si in the 2nd quarter worth approximately $25,000. JTC Employer Solutions Trustee Ltd purchased a new stake in Quantum-Si in the second quarter worth $26,000. Cerity Partners LLC bought a new stake in shares of Quantum-Si in the second quarter valued at $29,000. Wolverine Asset Management LLC lifted its position in shares of Quantum-Si by 140.0% during the 2nd quarter. Wolverine Asset Management LLC now owns 16,501 shares of the company’s stock valued at $32,000 after buying an additional 9,626 shares during the last quarter. Finally, Capital Investment Advisory Services LLC lifted its position in shares of Quantum-Si by 100.0% during the 3rd quarter. Capital Investment Advisory Services LLC now owns 20,000 shares of the company’s stock valued at $28,000 after buying an additional 10,000 shares during the last quarter. Hedge funds and other institutional investors own 39.90% of the company’s stock.

About Quantum-Si

Quantum-Si Inc is a life sciences instrumentation company headquartered in Guilford, Connecticut, developing next-generation proteomics solutions based on semiconductor sequencing technology. The company’s core offering centers on a proprietary single-molecule protein sequencing platform that uses a silicon-based sensor chip to convert protein data into digital signals. This approach is designed to deliver high sensitivity, single-amino-acid resolution and deep proteome coverage while potentially reducing cost and complexity compared to traditional mass spectrometry methods.

Quantum-Si’s product roadmap includes the development and commercialization of an integrated system comprising instruments, consumable reagents and proprietary data analysis software.