Quantum-Si (NASDAQ:QSI) Cut to “Sell” at Wall Street Zen

Wall Street Zen downgraded shares of Quantum-Si (NASDAQ:QSI) from a hold rating to a sell rating in a research note issued to investors on Saturday morning,Wall Street Zen reports.

Several other research firms have also recently weighed in on QSI. Alliance Global Partners restated a “buy” rating on shares of Quantum-Si in a research note on Friday, August 14th. Weiss Ratings raised shares of Quantum-Si from a “sell (e+)” rating to a “sell (d-)” rating in a report on Thursday, September 24th. Finally, HC Wainwright restated a “buy” rating and set a $4.00 price objective on shares of Quantum-Si in a research report on Tuesday, September 29th. Two investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $2.50.

Quantum-Si Price Performance

NASDAQ:QSI opened at $1.28 on Friday. Quantum-Si has a 12 month low of $0.69 and a 12 month high of $3.10. The firm has a market capitalization of $280.17 million, a PE ratio of -2.78 and a beta of 3.21. The business’s fifty day moving average price is $0.82 and its 200 day moving average price is $0.88.

Quantum-Si (NASDAQ:QSI) last announced its quarterly earnings results on Thursday, August 13th. The company reported ($0.11) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.11). Quantum-Si had a negative return on equity of 47.12% and a negative net margin of 6,138.26%.The company had revenue of $0.34 million during the quarter, compared to the consensus estimate of $0.30 million. As a group, equities analysts anticipate that Quantum-Si will post -0.47 EPS for the current year.

Institutional Investors Weigh In On Quantum-Si

Several hedge funds have recently made changes to their positions in QSI. IPG Investment Advisors LLC acquired a new position in Quantum-Si in the 2nd quarter valued at about $27,000. Hollencrest Capital Management lifted its position in Quantum-Si by 301.1% during the 1st quarter. Hollencrest Capital Management now owns 40,111 shares of the company’s stock worth $31,000 after acquiring an additional 30,111 shares during the period. Corient Private Wealth LP purchased a new position in shares of Quantum-Si in the 2nd quarter valued at approximately $34,000. Green Alpha Advisors LLC purchased a new position in shares of Quantum-Si in the 2nd quarter valued at approximately $41,000. Finally, WINTON GROUP Ltd acquired a new position in shares of Quantum-Si in the second quarter valued at approximately $67,000. Institutional investors and hedge funds own 39.90% of the company’s stock.

About Quantum-Si

Quantum-Si Incorporated (NASDAQ:QSI) is a life sciences technology company focused on advancing proteomics, the study of proteins and their functions. The company develops tools intended to make protein analysis more accessible, scalable and cost-effective for researchers, pharmaceutical companies, biotechnology firms and academic institutions.

Its primary offering is the Platinum platform, which combines a benchtop protein sequencing instrument with single-use consumables and software.