Cambridge Investment Research Advisors Inc. lowered its position in Rigetti Computing, Inc. (NASDAQ:RGTI - Free Report) by 10.2% in the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 188,967 shares of the company's stock after selling 21,433 shares during the quarter. Cambridge Investment Research Advisors Inc. owned about 0.07% of Rigetti Computing worth $1,497,000 as of its most recent SEC filing.
A number of other hedge funds have also added to or reduced their stakes in RGTI. Center for Financial Planning Inc. bought a new stake in Rigetti Computing in the first quarter valued at approximately $30,000. PFG Investments LLC purchased a new stake in Rigetti Computing in the first quarter worth $687,000. Kingswood Wealth Advisors LLC purchased a new stake in Rigetti Computing in the first quarter worth $144,000. Janney Montgomery Scott LLC purchased a new position in shares of Rigetti Computing in the 1st quarter worth about $206,000. Finally, Trust Co. of Toledo NA OH purchased a new position in shares of Rigetti Computing in the 1st quarter worth about $165,000. Hedge funds and other institutional investors own 35.38% of the company's stock.
Rigetti Computing Stock Up 2.2%
Shares of Rigetti Computing stock traded up $0.30 during mid-day trading on Monday, reaching $13.75. 50,209,743 shares of the stock traded hands, compared to its average volume of 59,127,187. Rigetti Computing, Inc. has a fifty-two week low of $0.66 and a fifty-two week high of $21.42. The stock has a market capitalization of $3.99 billion, a PE ratio of -19.64 and a beta of 1.43. The business has a 50-day moving average of $11.61 and a 200 day moving average of $11.05.
Analyst Ratings Changes
A number of research analysts have recently issued reports on RGTI shares. Benchmark reaffirmed a "buy" rating and set a $14.00 price target on shares of Rigetti Computing in a report on Thursday, May 15th. Needham & Company LLC decreased their price objective on Rigetti Computing from $17.00 to $15.00 and set a "buy" rating on the stock in a research note on Wednesday, May 14th. Finally, Cantor Fitzgerald began coverage on Rigetti Computing in a research note on Wednesday, July 2nd. They set an "overweight" rating and a $15.00 target price on the stock. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus target price of $14.20.
Check Out Our Latest Stock Analysis on RGTI
Rigetti Computing Company Profile
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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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