Rigetti Computing, Inc. (NASDAQ:RGTI - Get Free Report)'s stock price gapped down prior to trading on Monday . The stock had previously closed at $8.93, but opened at $7.33. Rigetti Computing shares last traded at $7.61, with a volume of 40,651,138 shares traded.
Analyst Ratings Changes
A number of equities analysts recently commented on RGTI shares. Needham & Company LLC reissued a "buy" rating and set a $2.00 price target on shares of Rigetti Computing in a research note on Wednesday, November 13th. Benchmark reissued a "buy" rating and issued a $2.50 target price on shares of Rigetti Computing in a report on Thursday, November 14th. Craig Hallum assumed coverage on shares of Rigetti Computing in a research note on Friday, December 20th. They set a "buy" rating and a $12.00 price target on the stock. Finally, B. Riley lifted their price objective on shares of Rigetti Computing from $4.00 to $8.50 and gave the stock a "buy" rating in a research note on Tuesday. Five research analysts have rated the stock with a buy rating, According to MarketBeat, Rigetti Computing currently has an average rating of "Buy" and an average target price of $5.70.
Read Our Latest Research Report on Rigetti Computing
Rigetti Computing Stock Up 22.2 %
The company has a market cap of $2.10 billion, a PE ratio of -28.79 and a beta of 1.31. The company has a fifty day moving average of $7.24 and a two-hundred day moving average of $3.16. The company has a debt-to-equity ratio of 0.02, a quick ratio of 4.84 and a current ratio of 4.84.
Insider Buying and Selling at Rigetti Computing
In other news, major shareholder Bessemer Venture Partners X. L. sold 1,286,114 shares of the company's stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $1.52, for a total transaction of $1,954,893.28. Following the transaction, the insider now owns 19,582,218 shares of the company's stock, valued at approximately $29,764,971.36. This represents a 6.16 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Michael S. Clifton sold 125,000 shares of the firm's stock in a transaction that occurred on Friday, December 6th. The stock was sold at an average price of $4.00, for a total value of $500,000.00. Following the sale, the director now directly owns 1,188,864 shares of the company's stock, valued at $4,755,456. This represents a 9.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 2,955,125 shares of company stock worth $5,489,354 over the last quarter. Insiders own 2.81% of the company's stock.
Institutional Trading of Rigetti Computing
A number of large investors have recently made changes to their positions in the stock. JPMorgan Chase & Co. lifted its holdings in Rigetti Computing by 3.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 62,360 shares of the company's stock valued at $49,000 after buying an additional 2,045 shares in the last quarter. Sovereign Financial Group Inc. purchased a new position in shares of Rigetti Computing during the fourth quarter worth approximately $215,000. Greenhouse Wealth Management LLC bought a new stake in shares of Rigetti Computing during the fourth quarter valued at approximately $223,000. Silverleafe Capital Partners LLC purchased a new stake in shares of Rigetti Computing in the fourth quarter valued at approximately $554,000. Finally, SG Americas Securities LLC grew its stake in Rigetti Computing by 166.9% in the third quarter. SG Americas Securities LLC now owns 63,202 shares of the company's stock worth $49,000 after purchasing an additional 39,526 shares in the last quarter. 35.38% of the stock is owned by hedge funds and other institutional investors.
About Rigetti Computing
(
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.
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