Rigetti Computing, Inc. (NASDAQ:RGTI - Get Free Report) shares gapped down prior to trading on Thursday . The stock had previously closed at $7.38, but opened at $6.65. Rigetti Computing shares last traded at $7.13, with a volume of 33,045,521 shares trading hands.
Analyst Ratings Changes
A number of research analysts recently weighed in on the company. B. Riley boosted their target price on Rigetti Computing from $3.50 to $4.00 and gave the stock a "buy" rating in a report on Monday, November 25th. Benchmark reissued a "buy" rating and issued a $2.50 price objective on shares of Rigetti Computing in a research report on Thursday, November 14th. Finally, Needham & Company LLC reaffirmed a "buy" rating and set a $2.00 target price on shares of Rigetti Computing in a report on Wednesday, November 13th.
Get Our Latest Analysis on Rigetti Computing
Rigetti Computing Stock Down 19.1 %
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 stock has a market cap of $1.15 billion, a P/E ratio of -15.71 and a beta of 2.71. The firm has a 50-day simple moving average of $1.95 and a two-hundred day simple moving average of $1.29.
Insider Buying and Selling
In related news, major shareholder Bessemer Venture Partners X. L. sold 580,125 shares of the stock in a transaction that occurred on Thursday, November 14th. The stock was sold at an average price of $1.63, for a total transaction of $945,603.75. Following the sale, the insider now owns 19,002,093 shares of the company's stock, valued at $30,973,411.59. This represents a 2.96 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Michael S. Clifton sold 125,000 shares of Rigetti Computing 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 completion of the transaction, the director now directly owns 1,063,864 shares of the company's stock, valued at $5,351,235.92. This represents a 10.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 2,998,325 shares of company stock valued at $5,524,778.
Institutional Inflows and Outflows
A number of hedge funds have recently modified their holdings of RGTI. Vanguard Group Inc. lifted its position in Rigetti Computing by 17.0% during the first quarter. Vanguard Group Inc. now owns 5,185,200 shares of the company's stock worth $7,933,000 after purchasing an additional 753,110 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Rigetti Computing by 20.6% during the 3rd quarter. Geode Capital Management LLC now owns 3,621,829 shares of the company's stock worth $2,837,000 after acquiring an additional 617,506 shares during the period. Penserra Capital Management LLC boosted its position in shares of Rigetti Computing by 9.8% during the 3rd quarter. Penserra Capital Management LLC now owns 4,553,633 shares of the company's stock worth $3,565,000 after acquiring an additional 407,389 shares in the last quarter. Bank of New York Mellon Corp boosted its position in shares of Rigetti Computing by 3,788.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 410,705 shares of the company's stock worth $439,000 after acquiring an additional 400,143 shares in the last quarter. Finally, State Street Corp raised its position in Rigetti Computing by 12.9% during the third quarter. State Street Corp now owns 2,715,223 shares of the company's stock valued at $2,126,000 after purchasing an additional 309,831 shares in the last quarter. Institutional investors own 35.38% of the company's stock.
Rigetti Computing Company Profile
(
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.
Further Reading
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