Squarepoint Ops LLC purchased a new position in shares of Rigetti Computing, Inc. (NASDAQ:RGTI - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 189,495 shares of the company's stock, valued at approximately $2,892,000. Squarepoint Ops LLC owned about 0.10% of Rigetti Computing as of its most recent SEC filing.
Other large investors also recently modified their holdings of the company. Vanguard Group Inc. raised its stake in shares of Rigetti Computing by 81.7% in the fourth quarter. Vanguard Group Inc. now owns 11,746,361 shares of the company's stock valued at $179,249,000 after purchasing an additional 5,280,128 shares in the last quarter. Invesco Ltd. raised its stake in shares of Rigetti Computing by 7,367.2% in the fourth quarter. Invesco Ltd. now owns 4,580,317 shares of the company's stock valued at $69,896,000 after purchasing an additional 4,518,978 shares in the last quarter. JPMorgan Chase & Co. raised its stake in shares of Rigetti Computing by 3,295.7% in the fourth quarter. JPMorgan Chase & Co. now owns 2,117,563 shares of the company's stock valued at $32,314,000 after purchasing an additional 2,055,203 shares in the last quarter. Nuveen Asset Management LLC raised its stake in shares of Rigetti Computing by 418.6% in the fourth quarter. Nuveen Asset Management LLC now owns 999,617 shares of the company's stock valued at $15,254,000 after purchasing an additional 806,878 shares in the last quarter. Finally, Bank of America Corp DE raised its stake in shares of Rigetti Computing by 536.3% in the fourth quarter. Bank of America Corp DE now owns 505,070 shares of the company's stock valued at $7,707,000 after purchasing an additional 425,689 shares in the last quarter. 35.38% of the stock is currently owned by institutional investors and hedge funds.
Rigetti Computing Price Performance
NASDAQ:RGTI traded down $0.98 during trading hours on Friday, reaching $12.17. The company had a trading volume of 41,914,920 shares, compared to its average volume of 54,756,722. The stock has a 50-day moving average of $9.89 and a two-hundred day moving average of $9.54. Rigetti Computing, Inc. has a one year low of $0.66 and a one year high of $21.42. The firm has a market capitalization of $3.53 billion, a PE ratio of -32.02 and a beta of 1.41. The company has a quick ratio of 4.84, a current ratio of 4.84 and a debt-to-equity ratio of 0.02.
Rigetti Computing (NASDAQ:RGTI - Get Free Report) last announced its earnings results on Wednesday, March 5th. The company reported ($0.08) earnings per share for the quarter, meeting analysts' consensus estimates of ($0.08). Rigetti Computing had a negative return on equity of 51.56% and a negative net margin of 509.58%. The company had revenue of $2.27 million during the quarter, compared to analyst estimates of $2.40 million. During the same period last year, the company posted ($0.04) earnings per share. Analysts forecast that Rigetti Computing, Inc. will post -0.34 earnings per share for the current year.
Insider Activity
In related news, CTO David Rivas sold 351,785 shares of the firm's stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of $7.76, for a total value of $2,729,851.60. Following the transaction, the chief technology officer now owns 1,094,738 shares in the company, valued at $8,495,166.88. This trade represents a 24.32% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.90% of the stock is currently owned by corporate insiders.
Analyst Ratings Changes
A number of research analysts recently commented on the company. Alliance Global Partners restated a "buy" rating on shares of Rigetti Computing in a research note on Thursday, March 6th. B. Riley upped their price target on Rigetti Computing from $8.50 to $15.00 and gave the company a "buy" rating in a research report on Friday, February 14th. Needham & Company LLC lowered their price target on Rigetti Computing from $17.00 to $15.00 and set a "buy" rating on the stock in a research report on Wednesday, May 14th. Finally, Benchmark reiterated a "buy" rating and issued a $14.00 price target on shares of Rigetti Computing in a research report on Thursday, May 15th. Five research analysts have rated the stock with a buy rating, According to MarketBeat.com, Rigetti Computing currently has an average rating of "Buy" and a consensus price target of $14.00.
Read Our Latest Analysis on Rigetti Computing
Rigetti Computing Profile
(
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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