Quantum-Si (NASDAQ:QSI) Posts Quarterly Earnings Results

by · The Cerbat Gem

Quantum-Si (NASDAQ:QSIGet Free Report) released its quarterly earnings results on Wednesday. The company reported ($0.17) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.17), FiscalAI reports. The business had revenue of $0.55 million during the quarter, compared to the consensus estimate of $0.60 million. Quantum-Si had a negative return on equity of 44.57% and a negative net margin of 3,120.14%.

Quantum-Si Price Performance

Shares of QSI stock traded down $0.16 during trading hours on Thursday, hitting $1.64. 9,051,922 shares of the company’s stock were exchanged, compared to its average volume of 11,969,321. The stock’s 50-day moving average is $1.68 and its 200-day moving average is $1.60. The stock has a market cap of $332.69 million, a price-to-earnings ratio of -2.42 and a beta of 2.93. Quantum-Si has a 52 week low of $0.61 and a 52 week high of $5.77.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the company. 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 note on Monday, October 27th. Weiss Ratings reissued a “sell (e+)” rating on shares of Quantum-Si in a research note on Wednesday, October 8th. Two research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $3.73.

Read Our Latest Analysis on QSI

Insider Buying and Selling at Quantum-Si

In other Quantum-Si news, Director Jonathan M. Rothberg sold 26,095 shares of the stock in a transaction dated Thursday, October 16th. The stock was sold at an average price of $3.07, for a total value 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. This represents a 1.35% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Todd C. Bennett sold 18,482 shares of the firm’s stock in a transaction dated Monday, September 22nd. The stock was sold at an average price of $1.68, for a total value of $31,049.76. Following the sale, 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 position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 68,936 shares of company stock worth $152,085 in the last 90 days. Company insiders own 30.04% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Millennium Management LLC bought a new position in Quantum-Si in the first quarter valued at approximately $4,721,000. Bank of America Corp DE raised its holdings in shares of Quantum-Si by 426.6% during the 2nd quarter. Bank of America Corp DE now owns 465,999 shares of the company’s stock worth $913,000 after buying an additional 377,504 shares in the last quarter. Ameriprise Financial Inc. bought a new stake in Quantum-Si during the 2nd quarter worth $437,000. Invesco Ltd. grew its position in Quantum-Si by 88.6% during the 2nd quarter. Invesco Ltd. now owns 195,450 shares of the company’s stock worth $383,000 after acquiring an additional 91,793 shares during the last quarter. Finally, Rhumbline Advisers grew its position in shares of Quantum-Si by 36.0% in the 2nd quarter. Rhumbline Advisers now owns 203,967 shares of the company’s stock valued at $400,000 after buying an additional 53,994 shares during the last quarter. 39.90% of the stock is currently owned by institutional investors.

About Quantum-Si

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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.

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