UNICOM Systems Inc. Takes $4.35 Million Position in Rigetti Computing, Inc. (NASDAQ:RGTI)

UNICOM Systems Inc. bought a new stake in Rigetti Computing, Inc. (NASDAQ:RGTI - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 285,000 shares of the company's stock, valued at approximately $4,349,000. Rigetti Computing comprises about 1.1% of UNICOM Systems Inc.'s holdings, making the stock its 16th biggest holding. UNICOM Systems Inc. owned approximately 0.15% of Rigetti Computing as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. Activest Wealth Management acquired a new stake in shares of Rigetti Computing in the fourth quarter valued at about $52,000. Stephens Inc. AR acquired a new stake in shares of Rigetti Computing in the 4th quarter valued at approximately $229,000. SkyOak Wealth LLC acquired a new stake in shares of Rigetti Computing in the 4th quarter valued at approximately $160,000. Spire Wealth Management bought a new position in shares of Rigetti Computing in the fourth quarter valued at $46,000. Finally, Strategic Advocates LLC acquired a new position in Rigetti Computing during the fourth quarter worth $267,000. Institutional investors own 35.38% of the company's stock.

Insider Buying and Selling

In other Rigetti Computing news, Director Michael S. Clifton sold 125,000 shares of the company's stock in a transaction 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 transaction, 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 position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In the last ninety days, insiders sold 375,000 shares of company stock valued at $1,503,750. Insiders own 2.81% of the company's stock.

Wall Street Analysts Forecast Growth

RGTI has been the subject of a number of analyst reports. Needham & Company LLC reissued a "buy" rating and issued a $2.00 price objective on shares of Rigetti Computing in a research report on Wednesday, November 13th. Craig Hallum assumed coverage on shares of Rigetti Computing in a research note on Friday, December 20th. They issued a "buy" rating and a $12.00 target price for the company. Benchmark reissued a "buy" rating and set a $2.50 price target on shares of Rigetti Computing in a research report on Thursday, November 14th. Finally, B. Riley upped their price objective on Rigetti Computing from $8.50 to $15.00 and gave the company a "buy" rating in a research note on Friday. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, Rigetti Computing presently has a consensus rating of "Buy" and a consensus price target of $7.00.

Rigetti Computing Stock Performance

RGTI stock traded down $0.38 during mid-day trading on Friday, hitting $11.88. 42,647,424 shares of the company were exchanged, compared to its average volume of 156,513,578. Rigetti Computing, Inc. has a 1-year low of $0.66 and a 1-year high of $21.42. The stock has a market capitalization of $2.28 billion, a PE ratio of -31.20 and a beta of 1.26. The business has a 50 day simple moving average of $11.84 and a 200-day simple moving average of $4.88. The company has a current ratio of 4.84, a quick ratio of 4.84 and a debt-to-equity ratio of 0.02.

Rigetti Computing 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.