Rigetti Computing, Inc. (NASDAQ:RGTI – Get Free Report) shares traded up 2.8% on Wednesday . The company traded as high as $1.43 and last traded at $1.41. 1,884,224 shares traded hands during trading, a decline of 72% from the average session volume of 6,779,652 shares. The stock had previously closed at $1.37.
Wall Street Analysts Forecast Growth
Several equities research analysts have recently commented on RGTI shares. Alliance Global Partners started coverage on shares of Rigetti Computing in a research note on Friday, March 1st. They issued a “buy” rating and a $3.50 target price on the stock. Needham & Company LLC restated a “buy” rating and issued a $3.00 target price on shares of Rigetti Computing in a research note on Friday, March 15th.
Get Our Latest Stock Report on RGTI
Rigetti Computing Price Performance
The stock has a fifty day moving average of $1.57 and a 200-day moving average of $1.31. The company has a quick ratio of 3.71, a current ratio of 3.71 and a debt-to-equity ratio of 0.09. The firm has a market capitalization of $222.43 million, a P/E ratio of -2.43 and a beta of 2.43.
Insider Activity at Rigetti Computing
In other Rigetti Computing news, 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 directly owns 1,052,141 shares in the company, valued at approximately $2,072,717.77. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, General Counsel Richard Danis sold 46,326 shares of the stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $1.97, for a total value of $91,262.22. Following the sale, the general counsel now directly owns 1,052,141 shares in the company, valued at approximately $2,072,717.77. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Alissa Fitzgerald sold 20,000 shares of the stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $1.28, for a total transaction of $25,600.00. Following the completion of the sale, the director now owns 140,810 shares in the company, valued at $180,236.80. The disclosure for this sale can be found here. Insiders sold 115,599 shares of company stock valued at $194,030 over the last ninety days. 2.60% of the stock is owned by insiders.
Institutional Trading of Rigetti Computing
A number of hedge funds have recently modified their holdings of RGTI. American Assets Investment Management LLC increased its stake in Rigetti Computing by 1,657.8% during the 3rd quarter. American Assets Investment Management LLC now owns 8,789,169 shares of the company’s stock worth $11,690,000 after purchasing an additional 8,289,169 shares in the last quarter. BlackRock Inc. increased its stake in Rigetti Computing by 7.9% during the 1st quarter. BlackRock Inc. now owns 4,662,924 shares of the company’s stock worth $3,373,000 after purchasing an additional 340,583 shares in the last quarter. Vanguard Group Inc. increased its stake in Rigetti Computing by 5.0% during the 4th quarter. Vanguard Group Inc. now owns 4,432,090 shares of the company’s stock worth $4,365,000 after purchasing an additional 212,646 shares in the last quarter. Penserra Capital Management LLC increased its stake in Rigetti Computing by 9.0% during the 3rd quarter. Penserra Capital Management LLC now owns 2,118,751 shares of the company’s stock worth $2,817,000 after purchasing an additional 174,408 shares in the last quarter. Finally, Geode Capital Management LLC increased its stake in Rigetti Computing by 1.8% during the 1st quarter. Geode Capital Management LLC now owns 1,462,922 shares of the company’s stock worth $1,058,000 after purchasing an additional 25,721 shares in the last quarter. 35.38% of the stock is currently owned by institutional investors and hedge funds.
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.
Featured Articles
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send any questions or comments about this story to [email protected].
Before you consider Rigetti Computing, you’ll want to hear this.
MarketBeat keeps track of Wall Street’s top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on… and Rigetti Computing wasn’t on the list.
While Rigetti Computing currently has a “Buy” rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Looking to generate income with your stock portfolio? Use these ten stocks to generate a safe and reliable source of investment income.
Wanda Parisien is a computing expert who navigates the vast landscape of hardware and software. With a focus on computer technology, software development, and industry trends, Wanda delivers informative content, tutorials, and analyses to keep readers updated on the latest in the world of computing.
