Allspring Global Investments Holdings LLC Invests $178,000 in Rigetti Computing, Inc. (NASDAQ:RGTI)

Allspring Global Investments Holdings LLC acquired a new stake in Rigetti Computing, Inc. (NASDAQ:RGTI - Free Report) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 22,733 shares of the company's stock, valued at approximately $178,000.

A number of other hedge funds have also made changes to their positions in RGTI. Signaturefd LLC bought a new position in Rigetti Computing during the 4th quarter valued at $25,000. GAMMA Investing LLC grew its holdings in Rigetti Computing by 1,813.0% during the first quarter. GAMMA Investing LLC now owns 3,233 shares of the company's stock worth $26,000 after acquiring an additional 3,064 shares during the period. EverSource Wealth Advisors LLC bought a new stake in Rigetti Computing in the fourth quarter worth about $28,000. Center for Financial Planning Inc. bought a new stake in Rigetti Computing in the first quarter worth about $30,000. Finally, Tucker Asset Management LLC acquired a new stake in Rigetti Computing in the 4th quarter valued at about $32,000. Institutional investors and hedge funds own 35.38% of the company's stock.

Analysts Set New Price Targets

A number of analysts recently commented on the stock. Cantor Fitzgerald initiated coverage on shares of Rigetti Computing in a report on Wednesday, July 2nd. They issued an "overweight" rating and a $15.00 target price on the stock. Needham & Company LLC cut their price objective on Rigetti Computing from $17.00 to $15.00 and set a "buy" rating for the company in a research report on Wednesday, May 14th. Finally, Benchmark reissued a "buy" rating and set a $14.00 price objective on shares of Rigetti Computing in a research note on Thursday, May 15th. Six analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has an average rating of "Buy" and a consensus target price of $14.20.

Rigetti Computing Stock Performance

Shares of RGTI stock traded down $0.11 during trading on Tuesday, hitting $12.66. 19,572,750 shares of the company were exchanged, compared to its average volume of 59,316,667. The firm has a market capitalization of $3.67 billion, a price-to-earnings ratio of -18.09 and a beta of 1.43. The business's 50-day simple moving average is $11.96 and its 200 day simple moving average is $11.04. Rigetti Computing, Inc. has a twelve month low of $0.66 and a twelve month high of $21.42.

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.