Traders Purchase Large Volume of Call Options on Rigetti Computing (NASDAQ:RGTI)

Rigetti Computing, Inc. (NASDAQ:RGTI - Get Free Report) saw unusually large options trading activity on Monday. Stock traders purchased 4,877 call options on the stock. This is an increase of approximately 311% compared to the average daily volume of 1,187 call options.

Rigetti Computing Stock Up 23.0 %

Shares of RGTI stock traded up $0.28 on Monday, hitting $1.50. The stock had a trading volume of 15,569,964 shares, compared to its average volume of 5,206,629. The firm has a market capitalization of $286.86 million, a price-to-earnings ratio of -3.10 and a beta of 2.28. The stock's 50 day moving average is $0.87 and its 200-day moving average is $1.00. The company has a debt-to-equity ratio of 0.03, a quick ratio of 4.29 and a current ratio of 4.29. Rigetti Computing has a 52-week low of $0.66 and a 52-week high of $2.36.

Rigetti Computing (NASDAQ:RGTI - Get Free Report) last posted its quarterly earnings data on Thursday, August 8th. The company reported ($0.07) EPS for the quarter, beating analysts' consensus estimates of ($0.10) by $0.03. The firm had revenue of $3.09 million for the quarter, compared to the consensus estimate of $3.53 million. Rigetti Computing had a negative net margin of 538.72% and a negative return on equity of 54.61%. During the same period in the prior year, the firm posted ($0.13) EPS. As a group, research analysts expect that Rigetti Computing will post -0.34 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on RGTI shares. B. Riley started coverage on shares of Rigetti Computing in a research report on Thursday, July 25th. They issued a "buy" rating and a $3.00 price objective for the company. Needham & Company LLC decreased their target price on shares of Rigetti Computing from $3.00 to $2.00 and set a "buy" rating for the company in a research note on Friday, August 9th.

Insider Transactions at Rigetti Computing

In other news, Director Helene Gail Sandford sold 43,200 shares of the stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $0.82, for a total value of $35,424.00. Following the completion of the sale, the director now owns 257,752 shares of the company's stock, valued at $211,356.64. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 2.81% of the company's stock.

Institutional Trading of Rigetti Computing

Several hedge funds and other institutional investors have recently bought and sold shares of the company. SG Americas Securities LLC lifted its holdings in Rigetti Computing by 166.9% during the 3rd quarter. SG Americas Securities LLC now owns 63,202 shares of the company's stock worth $49,000 after buying an additional 39,526 shares during the last quarter. Point72 DIFC Ltd bought a new position in Rigetti Computing during the second quarter worth $88,000. XTX Topco Ltd boosted its holdings in Rigetti Computing by 1,121.1% in the second quarter. XTX Topco Ltd now owns 156,515 shares of the company's stock worth $167,000 after purchasing an additional 143,697 shares during the period. Caprock Group LLC bought a new stake in Rigetti Computing during the second quarter valued at $42,000. Finally, Rhumbline Advisers acquired a new stake in shares of Rigetti Computing during the second quarter worth $161,000. 35.38% of the stock is owned by institutional investors.

Rigetti Computing Company Profile

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.