Quantum-Si (NASDAQ:QSI) Sees Strong Trading Volume – Still a Buy?

Quantum-Si incorporated (NASDAQ:QSI) saw unusually-high trading volume on Monday . Approximately 61,141,336 shares were traded during trading, an increase of 1,135% from the previous session’s volume of 4,949,054 shares.The stock last traded at $3.76 and had previously closed at $3.60.

Analyst Ratings Changes

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

Quantum-Si Trading Down 6.4 %

The firm has a market capitalization of $480.94 million, a P/E ratio of -5.27 and a beta of 3.20. The stock has a 50 day simple moving average of $1.20 and a 200-day simple moving average of $1.06.

Institutional Trading of Quantum-Si

Hedge funds and other institutional investors have recently modified their holdings of the company. XTX Topco Ltd bought a new position in shares of Quantum-Si during the second quarter worth $25,000. SG Americas Securities LLC bought a new stake in shares of Quantum-Si in the third quarter worth about $53,000. Green Alpha Advisors LLC lifted its position in shares of Quantum-Si by 35.4% in 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 holdings in Quantum-Si by 210.5% during the 3rd quarter. Barclays PLC now owns 196,826 shares of the company’s stock valued at $173,000 after buying an additional 133,438 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its stake in Quantum-Si by 3.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 322,460 shares of the company’s stock worth $339,000 after acquiring an additional 10,811 shares during the last quarter. 39.90% of the stock is owned by hedge funds and other institutional investors.

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.