Traders Buy High Volume of Rigetti Computing Call Options (NASDAQ:RGTI)

Rigetti Computing, Inc. (NASDAQ:RGTI - Get Free Report) was the recipient of unusually large options trading on Tuesday. Investors acquired 27,421 call options on the company. This is an increase of approximately 266% compared to the average volume of 7,490 call options.

Rigetti Computing Trading Up 45.2 %

Shares of NASDAQ RGTI traded up $2.02 during midday trading on Tuesday, reaching $6.49. 238,530,953 shares of the stock were exchanged, compared to its average volume of 75,726,133. The stock has a 50 day moving average price of $1.60 and a 200-day moving average price of $1.17. 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 company has a market capitalization of $1.25 billion, a P/E ratio of -17.08 and a beta of 2.71. Rigetti Computing has a 52-week low of $1.13 and a 52-week high of $6.89.

Insider Buying and Selling

In other Rigetti Computing news, major shareholder Bessemer Venture Partners X. L. sold 1,286,114 shares of the business's stock in a transaction 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 sale, the insider now directly owns 19,582,218 shares in the company, valued at approximately $29,764,971.36. The trade was a 6.16 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Helene Gail Sandford sold 43,200 shares of the firm's 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 transaction, the director now owns 257,752 shares of the company's stock, valued at approximately $211,356.64. This represents a 14.35 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 2,998,325 shares of company stock valued at $5,524,778 over the last quarter.

Institutional Trading of Rigetti Computing

Several hedge funds and other institutional investors have recently bought and sold shares of RGTI. Vanguard Group Inc. lifted its holdings in shares of Rigetti Computing by 17.0% during the 1st quarter. Vanguard Group Inc. now owns 5,185,200 shares of the company's stock worth $7,933,000 after acquiring an additional 753,110 shares during the period. Penserra Capital Management LLC increased its position in Rigetti Computing by 9.8% during the third quarter. Penserra Capital Management LLC now owns 4,553,633 shares of the company's stock worth $3,565,000 after purchasing an additional 407,389 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Rigetti Computing by 20.6% in the 3rd quarter. Geode Capital Management LLC now owns 3,621,829 shares of the company's stock valued at $2,837,000 after purchasing an additional 617,506 shares during the last quarter. State Street Corp grew its stake in shares of Rigetti Computing by 12.9% during the 3rd quarter. State Street Corp now owns 2,715,223 shares of the company's stock valued at $2,126,000 after buying an additional 309,831 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of Rigetti Computing by 14.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,149,934 shares of the company's stock worth $901,000 after buying an additional 144,742 shares during the last quarter. 35.38% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have issued reports on RGTI shares. B. Riley lifted their target price on shares of Rigetti Computing from $3.50 to $4.00 and gave the stock a "buy" rating in a research report on Monday, November 25th. Benchmark restated a "buy" rating and set a $2.50 price objective on shares of Rigetti Computing in a research report on Thursday, November 14th. Finally, Needham & Company LLC reiterated a "buy" rating and set a $2.00 target price on shares of Rigetti Computing in a report on Wednesday, November 13th.

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.