Vontobel Holding Ltd. purchased a new stake in Rigetti Computing, Inc. (NASDAQ:RGTI - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 68,415 shares of the company's stock, valued at approximately $542,000.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Signaturefd LLC purchased a new position in Rigetti Computing in the fourth quarter valued at about $25,000. EverSource Wealth Advisors LLC purchased a new position in Rigetti Computing in the fourth quarter valued at about $28,000. Tucker Asset Management LLC purchased a new position in Rigetti Computing in the fourth quarter valued at about $32,000. Orion Capital Management LLC purchased a new position in Rigetti Computing in the fourth quarter valued at about $46,000. Finally, GAMMA Investing LLC boosted its holdings in Rigetti Computing by 1,813.0% in the first quarter. GAMMA Investing LLC now owns 3,233 shares of the company's stock valued at $26,000 after purchasing an additional 3,064 shares during the last quarter. Hedge funds and other institutional investors own 35.38% of the company's stock.
Analyst Upgrades and Downgrades
A number of research analysts recently commented on RGTI shares. Needham & Company LLC reduced their price target on Rigetti Computing from $17.00 to $15.00 and set a "buy" rating for the company in a report on Wednesday, May 14th. Benchmark restated a "buy" rating and set a $14.00 price objective on shares of Rigetti Computing in a research note on Thursday, May 15th. Finally, Cantor Fitzgerald assumed coverage on Rigetti Computing in a research note on Wednesday, July 2nd. They set an "overweight" rating and a $15.00 price objective on the stock. Six analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has a consensus rating of "Buy" and an average price target of $14.20.
Read Our Latest Report on Rigetti Computing
Rigetti Computing Stock Up 1.0%
Shares of NASDAQ RGTI opened at $13.21 on Monday. The stock's 50 day moving average price is $11.52 and its two-hundred day moving average price is $11.02. Rigetti Computing, Inc. has a 52-week low of $0.66 and a 52-week high of $21.42. The stock has a market capitalization of $3.83 billion, a P/E ratio of -18.87 and a beta of 1.43.
About Rigetti Computing
(
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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