Canaccord Genuity Group Issues Pessimistic Forecast for Quantum-Si (NASDAQ:QSI) Stock Price

Quantum-Si (NASDAQ:QSI) had its target price reduced by Canaccord Genuity Group from $1.50 to $1.00 in a report released on Wednesday morning,Benzinga reports. They currently have a hold rating on the stock.

Quantum-Si Price Performance

Shares of NASDAQ QSI opened at $0.79 on Wednesday. The stock has a market capitalization of $112.65 million, a PE ratio of -1.24 and a beta of 2.89. The business has a fifty day moving average price of $0.86 and a two-hundred day moving average price of $1.12. Quantum-Si has a fifty-two week low of $0.70 and a fifty-two week high of $2.43.

Quantum-Si (NASDAQ:QSI) last announced its quarterly earnings data on Tuesday, November 12th. The company reported ($0.18) earnings per share for the quarter, beating the consensus estimate of ($0.21) by $0.03. The firm had revenue of $0.79 million during the quarter, compared to analysts’ expectations of $1.06 million. Quantum-Si had a negative return on equity of 35.42% and a negative net margin of 3,968.84%. On average, equities analysts expect that Quantum-Si will post -0.71 EPS for the current year.

Hedge Funds Weigh In On Quantum-Si

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Green Alpha Advisors LLC raised its holdings in shares of Quantum-Si by 35.4% during the 3rd 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. SG Americas Securities LLC acquired a new position in shares of Quantum-Si during the 3rd quarter worth $53,000. XTX Topco Ltd acquired a new position in shares of Quantum-Si during the 2nd quarter worth $25,000. Bank of New York Mellon Corp raised its holdings in shares of Quantum-Si by 3.5% during the 2nd 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 in the last quarter. Finally, Virtu Financial LLC acquired a new position in shares of Quantum-Si during the 1st quarter worth $98,000. 39.90% of the stock is owned by institutional investors and hedge funds.

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.