Rigetti Computing (NASDAQ:RGTI) Trading Up 1.5%

Rigetti Computing, Inc. (NASDAQ:RGTI - Get Free Report)'s stock price was up 1.5% on Tuesday . The company traded as high as $1.42 and last traded at $1.38. Approximately 974,888 shares changed hands during trading, a decline of 85% from the average daily volume of 6,643,563 shares. The stock had previously closed at $1.36.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on RGTI shares. Needham & Company LLC reaffirmed a "buy" rating and set a $3.00 price target on shares of Rigetti Computing in a research note on Friday, March 15th. Alliance Global Partners started coverage on shares of Rigetti Computing in a research report on Friday, March 1st. They issued a "buy" rating and a $3.50 price objective on the stock.

Rigetti Computing Stock Down 0.7 %

The company has a debt-to-equity ratio of 0.09, a quick ratio of 3.71 and a current ratio of 3.71. The firm's 50-day moving average is $1.59 and its 200 day moving average is $1.29. The firm has a market capitalization of $214.49 million, a PE ratio of -2.33 and a beta of 2.43.

Rigetti Computing (NASDAQ:RGTI - Get Free Report) last released its quarterly earnings data on Thursday, March 14th. The company reported ($0.09) EPS for the quarter. Rigetti Computing had a negative return on equity of 59.51% and a negative net margin of 625.42%. The business had revenue of $3.38 million during the quarter. As a group, research analysts forecast that Rigetti Computing, Inc. will post -0.33 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Rigetti Computing news, General Counsel Richard Danis sold 46,326 shares of the company's stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $1.97, for a total value of $91,262.22. Following the transaction, the general counsel now directly owns 1,052,141 shares in the company, valued at approximately $2,072,717.77. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Rigetti Computing news, General Counsel Richard Danis sold 46,326 shares of the company's stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $1.97, for a total value of $91,262.22. Following the transaction, the general counsel now directly owns 1,052,141 shares in the company, valued at approximately $2,072,717.77. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Alissa Fitzgerald sold 20,000 shares of the company's stock in a transaction dated Tuesday, January 30th. The shares were sold at an average price of $1.28, for a total transaction of $25,600.00. Following the completion of the transaction, the director now owns 140,810 shares in the company, valued at $180,236.80. The disclosure for this sale can be found here. Insiders have sold 115,599 shares of company stock worth $194,030 in the last three months. Corporate insiders own 2.60% of the company's stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. American Assets Investment Management LLC lifted its holdings in shares of Rigetti Computing by 1,657.8% during the 3rd quarter. American Assets Investment Management LLC now owns 8,789,169 shares of the company's stock worth $11,690,000 after acquiring an additional 8,289,169 shares during the period. BlackRock Inc. grew its position in Rigetti Computing by 7.9% in the first quarter. BlackRock Inc. now owns 4,662,924 shares of the company's stock valued at $3,373,000 after acquiring an additional 340,583 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of Rigetti Computing by 5.0% during the 4th quarter. Vanguard Group Inc. now owns 4,432,090 shares of the company's stock valued at $4,365,000 after buying an additional 212,646 shares during the last quarter. Penserra Capital Management LLC boosted its stake in shares of Rigetti Computing by 9.0% during the 3rd quarter. Penserra Capital Management LLC now owns 2,118,751 shares of the company's stock valued at $2,817,000 after buying an additional 174,408 shares during the last quarter. Finally, Geode Capital Management LLC boosted its stake in shares of Rigetti Computing by 1.8% during the 1st quarter. Geode Capital Management LLC now owns 1,462,922 shares of the company's stock valued at $1,058,000 after buying an additional 25,721 shares during the last quarter. 35.38% of the stock is currently owned by hedge funds and other institutional investors.

Rigetti Computing Company 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.