Shares of Rigetti Computing, Inc. (NASDAQ:RGTI – Get Free Report) rose 3.7% on Thursday . The stock traded as high as $1.47 and last traded at $1.45. Approximately 1,543,376 shares changed hands during mid-day trading, a decline of 77% from the average daily volume of 6,741,232 shares. The stock had previously closed at $1.40.
Wall Street Analysts Forecast Growth
A number of brokerages have commented on RGTI. Alliance Global Partners began coverage on shares of Rigetti Computing in a report on Friday, March 1st. They issued a “buy” rating and a $3.50 target price for the company. Needham & Company LLC reiterated a “buy” rating and issued a $3.00 target price on shares of Rigetti Computing in a report on Friday, March 15th.
Check Out Our Latest Analysis on Rigetti Computing
Rigetti Computing Price Performance
The firm has a market capitalization of $220.84 million, a P/E ratio of -2.54 and a beta of 2.43. The company has a debt-to-equity ratio of 0.09, a current ratio of 3.71 and a quick ratio of 3.71. The stock’s fifty day simple moving average is $1.58 and its 200 day simple moving average is $1.31.
Insiders Place Their Bets
In other news, Director Alissa Fitzgerald sold 20,000 shares of the company’s stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $1.28, for a total transaction of $25,600.00. Following the transaction, the director now owns 140,810 shares in the company, valued at $180,236.80. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, Director Alissa Fitzgerald sold 20,000 shares of the company’s stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $1.28, for a total transaction of $25,600.00. Following the transaction, the director now owns 140,810 shares in the company, valued at $180,236.80. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, General Counsel Richard Danis sold 46,326 shares of the company’s stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $1.97, for a total transaction of $91,262.22. Following the transaction, the general counsel now owns 1,052,141 shares in the company, valued at approximately $2,072,717.77. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 115,599 shares of company stock worth $194,030. 2.60% of the stock is owned by corporate insiders.
Institutional Investors Weigh In On Rigetti Computing
Large investors have recently bought and sold shares of the company. Penserra Capital Management LLC purchased a new stake in Rigetti Computing in the first quarter valued at approximately $26,000. Moors & Cabot Inc. purchased a new stake in Rigetti Computing in the 1st quarter worth approximately $75,000. Ergoteles LLC purchased a new stake in Rigetti Computing in the 1st quarter worth approximately $80,000. American International Group Inc. purchased a new stake in Rigetti Computing in the 2nd quarter worth approximately $55,000. Finally, Orion Portfolio Solutions LLC purchased a new stake in Rigetti Computing in the 3rd quarter worth approximately $25,000. Hedge funds and other institutional investors own 35.38% of the company’s stock.
Rigetti Computing Company Profile
(Get Free Report)
Rigetti Computing, Inc, through its subsidiaries, builds quantum computers and the superconducting quantum processors. The company offers cloud in a form of quantum processing unit, such as 9-qubit chip and Ankaa-2 system under the Novera brand name; and sells access to its quantum computers through quantum computing as a service.
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