Mark Sheptoff Financial Planning LLC bought a new position in Rigetti Computing, Inc. (NASDAQ:RGTI - Free Report) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 31,300 shares of the company's stock, valued at approximately $478,000.
Other institutional investors have also added to or reduced their stakes in the company. Signaturefd LLC bought a new stake in shares of Rigetti Computing in the 4th quarter worth approximately $25,000. EverSource Wealth Advisors LLC bought a new stake in Rigetti Computing in the fourth quarter worth $28,000. Spire Wealth Management bought a new position in shares of Rigetti Computing during the fourth quarter valued at about $46,000. Jones Financial Companies Lllp purchased a new position in shares of Rigetti Computing in the fourth quarter worth about $50,000. Finally, Activest Wealth Management bought a new stake in shares of Rigetti Computing in the 4th quarter valued at about $52,000. Institutional investors own 35.38% of the company's stock.
Rigetti Computing Trading Down 5.3 %
Shares of NASDAQ:RGTI traded down $0.45 on Friday, hitting $8.02. The company had a trading volume of 22,280,885 shares, compared to its average volume of 110,344,117. The firm's 50-day simple moving average is $10.76 and its two-hundred day simple moving average is $6.68. The firm has a market capitalization of $2.29 billion, a price-to-earnings ratio of -21.09 and a beta of 1.36. The company has a quick ratio of 4.84, a current ratio of 4.84 and a debt-to-equity ratio of 0.02. Rigetti Computing, Inc. has a 1 year low of $0.66 and a 1 year high of $21.42.
Rigetti Computing (NASDAQ:RGTI - Get Free Report) last posted its quarterly earnings data on Wednesday, March 5th. The company reported ($0.08) earnings per share for the quarter, meeting the consensus estimate of ($0.08). The business had revenue of $2.27 million for the quarter, compared to analysts' expectations of $2.40 million. Rigetti Computing had a negative return on equity of 51.56% and a negative net margin of 509.58%. During the same period in the previous year, the firm posted ($0.04) EPS. Equities analysts anticipate that Rigetti Computing, Inc. will post -0.34 earnings per share for the current fiscal year.
Insider Buying and Selling at Rigetti Computing
In other Rigetti Computing news, CTO David Rivas sold 351,785 shares of the company's stock in a transaction dated Tuesday, March 11th. The shares were sold at an average price of $7.76, for a total value of $2,729,851.60. Following the sale, the chief technology officer now owns 1,094,738 shares in the company, valued at approximately $8,495,166.88. This represents a 24.32 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 2.81% of the company's stock.
Wall Street Analysts Forecast Growth
RGTI has been the subject of several recent research reports. Needham & Company LLC reiterated a "buy" rating and issued a $17.00 price objective on shares of Rigetti Computing in a research report on Thursday, March 6th. Alliance Global Partners reiterated a "buy" rating on shares of Rigetti Computing in a report on Thursday, March 6th. B. Riley raised their price target on shares of Rigetti Computing from $8.50 to $15.00 and gave the stock a "buy" rating in a report on Friday, February 14th. Benchmark reaffirmed a "buy" rating and set a $14.00 price objective on shares of Rigetti Computing in a research note on Thursday, March 6th. Finally, Craig Hallum initiated coverage on Rigetti Computing in a research note on Friday, December 20th. They issued a "buy" rating and a $12.00 target price on the stock. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat, Rigetti Computing presently has a consensus rating of "Buy" and an average price target of $14.50.
View Our Latest Report on RGTI
About Rigetti Computing
(
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.
Recommended Stories
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
Options trading isn’t just for the Wall Street elite; it’s an accessible strategy for anyone armed with the proper knowledge. Think of options as a strategic toolkit, with each tool designed for a specific financial task. Get this report to learn how options trading can help you use the market’s volatility to your advantage.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
