Benchmark reissued their buy rating on shares of Rigetti Computing (NASDAQ:RGTI - Free Report) in a research note published on Thursday morning,Benzinga reports. Benchmark currently has a $14.00 price objective on the stock.
RGTI has been the subject of several other research reports. B. Riley lifted their price target on Rigetti Computing from $8.50 to $15.00 and gave the stock a "buy" rating in a research report on Friday, February 14th. Needham & Company LLC reaffirmed a "buy" rating and issued a $17.00 price target on shares of Rigetti Computing in a research report on Thursday. Finally, Craig Hallum started coverage on Rigetti Computing in a research report on Friday, December 20th. They issued a "buy" rating and a $12.00 price target for the company.
Check Out Our Latest Analysis on RGTI
Rigetti Computing Stock Up 9.9 %
Rigetti Computing stock traded up $0.84 on Thursday, hitting $9.35. 74,469,316 shares of the stock traded hands, compared to its average volume of 44,504,331. The company has a current ratio of 4.84, a quick ratio of 4.84 and a debt-to-equity ratio of 0.02. The firm has a market cap of $1.80 billion, a P/E ratio of -24.60 and a beta of 1.36. The business's fifty day simple moving average is $11.94 and its 200 day simple moving average is $5.88. Rigetti Computing has a 1 year low of $0.66 and a 1 year high of $21.42.
Rigetti Computing (NASDAQ:RGTI - Get Free Report) last announced its quarterly earnings data on Wednesday, March 5th. The company reported ($0.08) EPS for the quarter, meeting the consensus estimate of ($0.08). The business had revenue of $2.27 million during the quarter, compared to analyst estimates 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 quarter last year, the firm posted ($0.04) earnings per share. As a group, sell-side analysts forecast that Rigetti Computing will post -0.34 earnings per share for the current year.
Insider Transactions at Rigetti Computing
In related news, Director Michael S. Clifton sold 125,000 shares of Rigetti Computing stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $5.03, for a total value of $628,750.00. Following the completion of the sale, the director now directly owns 1,063,864 shares in the company, valued at approximately $5,351,235.92. This trade represents a 10.51 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.81% of the stock is owned by insiders.
Institutional Investors Weigh In On Rigetti Computing
Large investors have recently bought and sold shares of the business. Signaturefd LLC bought a new stake in Rigetti Computing in the 4th quarter worth about $25,000. EverSource Wealth Advisors LLC bought a new stake in Rigetti Computing in the 4th quarter worth about $28,000. Tucker Asset Management LLC bought a new stake in shares of Rigetti Computing during the 4th quarter valued at about $32,000. Spire Wealth Management bought a new stake in shares of Rigetti Computing during the 4th quarter valued at about $46,000. Finally, Orion Capital Management LLC bought a new stake in shares of Rigetti Computing during the 4th quarter valued at about $46,000. 35.38% of the stock is currently owned by institutional investors.
About Rigetti Computing
(
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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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