Quantum-Si (QSI) stock continued to rally on Friday after the shares jumped 57.78% during normal trading hours the day before. That extreme movement came without news from the life sciences company or analysts. What investors did see was heavy trading of the shares with 104.62 million units changing hands on Thursday. For perspective, the company’s three-month daily average trading volume is only 9.24 million shares.
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Today’s movement continues this bull run with shares of QSI stock up 17.37% as of this writing. With that comes an increased trading volume of more than 23.7 million units. This shows investor interest in Quantum-Si continues today without any recent news.
What’s Behind the QSI Stock Rally?
A Substack by Mark Perkins may be one of the catalysts sending shares of QSI stock soaring lately. His coverage of the stock recently caught the attention of publications and investors on social media. Perkins takes a bull stance on Quantum-Si, which may have convinced new investors to take a stake in the company.
It’s also worth noting that Quantum-Si has an incredibly low entry point, making it an easy target for speculative traders. The shares are going for $5 during pre-market trading today after closing Thursday at $4.26. Before this latest rally, QSI traded for less than $1 per share, firmly placing it in penny stock territory. Penny stocks are often volatile and are easily manipulated, making them risky investments with the potential for huge gains or losses.
Is QSI Stock a Buy, Sell, or Hold?
Turning to Wall Street, the analysts’ consensus rating for Quantum-Si is Moderate Buy based on one Buy and one Hold ratings over the last three months. With that comes an average price target of $3.25, a high of $5.50, and a low of $1. This represents a potential 23.71% downside for QSI shares.
