Rigetti Computing, Inc. (NASDAQ:RGTI) Director Sells $628,750.00 in Stock

Rigetti Computing, Inc. (NASDAQ:RGTI - Get Free Report) Director Michael S. Clifton sold 125,000 shares of the firm's stock in a transaction on Monday, December 9th. The shares were sold at an average price of $5.03, for a total value of $628,750.00. Following the transaction, the director now directly owns 1,063,864 shares in the company, valued at $5,351,235.92. This trade represents a 10.51 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link.

Rigetti Computing Price Performance

RGTI stock traded up $0.09 during trading hours on Monday, hitting $4.47. 131,510,484 shares of the stock traded hands, compared to its average volume of 68,300,328. The stock has a 50-day simple moving average of $1.53 and a 200 day simple moving average of $1.15. The company has a market cap of $859.58 million, a P/E ratio of -11.53 and a beta of 2.71. Rigetti Computing, Inc. has a one year low of $1.13 and a one year high of $5.09. The company has a current ratio of 4.84, a quick ratio of 4.84 and a debt-to-equity ratio of 0.02.

Wall Street Analysts Forecast Growth

RGTI has been the subject of a number of recent analyst reports. B. Riley increased their target price on shares of Rigetti Computing from $3.50 to $4.00 and gave the company a "buy" rating in a research report on Monday, November 25th. Benchmark reaffirmed a "buy" rating and issued a $2.50 price target on shares of Rigetti Computing in a research note on Thursday, November 14th. Finally, Needham & Company LLC reiterated a "buy" rating and set a $2.00 price objective on shares of Rigetti Computing in a research note on Wednesday, November 13th.

Hedge Funds Weigh In On Rigetti Computing

Several large investors have recently made changes to their positions in the business. SG Americas Securities LLC acquired a new stake in Rigetti Computing during the second quarter valued at approximately $25,000. Comprehensive Financial Consultants Institutional Inc. acquired a new position in Rigetti Computing in the second quarter worth approximately $27,000. Cetera Advisors LLC bought a new position in shares of Rigetti Computing in the first quarter valued at $38,000. Caprock Group LLC acquired a new stake in shares of Rigetti Computing during the 2nd quarter valued at $42,000. Finally, Arete Wealth Advisors LLC bought a new stake in shares of Rigetti Computing during the 3rd quarter worth $45,000. Institutional investors own 35.38% of the company's stock.

About Rigetti Computing

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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