Quantum-Si (NASDAQ:QSI) Announces Earnings Results

Quantum-Si (NASDAQ:QSI) released its quarterly earnings results on Wednesday. The company reported ($0.17) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.17), FiscalAI reports. The company had revenue of $0.55 million during the quarter, compared to analysts’ expectations of $0.60 million. Quantum-Si had a negative net margin of 3,677.97% and a negative return on equity of 48.29%.

Quantum-Si Stock Down 4.5%

Shares of QSI stock traded down $0.08 during mid-day trading on Friday, reaching $1.58. The stock had a trading volume of 9,574,702 shares, compared to its average volume of 11,962,569. Quantum-Si has a one year low of $0.61 and a one year high of $5.77. The firm has a market cap of $318.92 million, a PE ratio of -2.35 and a beta of 2.93. The firm’s 50 day simple moving average is $1.69 and its 200 day simple moving average is $1.60.

Insiders Place Their Bets

In related news, insider Todd C. Bennett sold 18,482 shares of the company’s stock in a transaction on Monday, September 22nd. The stock was sold at an average price of $1.68, for a total value of $31,049.76. Following the completion of the transaction, the insider directly owned 700,003 shares in the company, valued at approximately $1,176,005.04. This represents a 2.57% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Jonathan M. Rothberg sold 26,095 shares of the business’s stock in a transaction on Thursday, October 16th. The shares were sold at an average price of $3.07, for a total transaction of $80,111.65. Following the completion of the sale, the director directly owned 1,904,866 shares in the company, valued at $5,847,938.62. This trade represents a 1.35% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 68,936 shares of company stock valued at $152,085 over the last 90 days. 30.04% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Quantum-Si

Institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in Quantum-Si by 0.5% in the third quarter. Vanguard Group Inc. now owns 8,714,507 shares of the company’s stock valued at $12,287,000 after buying an additional 44,846 shares in the last quarter. Millennium Management LLC bought a new position in shares of Quantum-Si in the first quarter valued at approximately $4,721,000. Bank of America Corp DE boosted its holdings in shares of Quantum-Si by 426.6% in the 2nd quarter. Bank of America Corp DE now owns 465,999 shares of the company’s stock worth $913,000 after acquiring an additional 377,504 shares in the last quarter. Ameriprise Financial Inc. bought a new stake in Quantum-Si during the 2nd quarter worth approximately $437,000. Finally, Rhumbline Advisers increased its holdings in Quantum-Si by 7.8% during the 3rd quarter. Rhumbline Advisers now owns 219,965 shares of the company’s stock valued at $310,000 after purchasing an additional 15,998 shares in the last quarter. 39.90% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the company. Weiss Ratings reissued a “sell (e+)” rating on shares of Quantum-Si in a research report on Wednesday. Canaccord Genuity Group lifted their price target on Quantum-Si from $1.00 to $2.00 and gave the stock a “hold” rating in a research report on Monday, October 27th. Two research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $3.73.

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.