Rigetti Computing, Inc. (NASDAQ:RGTI - Get Free Report) shares dropped 1.6% during trading on Tuesday . The stock traded as low as $13.57 and last traded at $13.53. Approximately 15,418,117 shares changed hands during mid-day trading, a decline of 74% from the average daily volume of 58,960,338 shares. The stock had previously closed at $13.75.
Wall Street Analyst Weigh In
RGTI has been the subject of several research analyst reports. Benchmark restated a "buy" rating and issued a $14.00 price objective on shares of Rigetti Computing in a report on Thursday, May 15th. 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 price objective for the company. Finally, Needham & Company LLC lowered their price objective on shares of Rigetti Computing from $17.00 to $15.00 and set a "buy" rating for the company in a report on Wednesday, May 14th. Six analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus price target of $14.20.
Check Out Our Latest Analysis on RGTI
Rigetti Computing Stock Up 0.1%
The company's fifty day moving average price is $11.79 and its 200-day moving average price is $11.08. The stock has a market capitalization of $3.93 billion, a PE ratio of -19.38 and a beta of 1.43.
Institutional Investors Weigh In On Rigetti Computing
Several institutional investors and hedge funds have recently made changes to their positions in RGTI. Signaturefd LLC bought a new stake in Rigetti Computing in the 4th quarter worth approximately $25,000. GAMMA Investing LLC grew its position in Rigetti Computing by 1,813.0% in the 1st quarter. GAMMA Investing LLC now owns 3,233 shares of the company's stock worth $26,000 after purchasing an additional 3,064 shares during the period. EverSource Wealth Advisors LLC bought a new stake in Rigetti Computing in the 4th quarter worth approximately $28,000. Center for Financial Planning Inc. bought a new stake in Rigetti Computing in the 1st quarter worth approximately $30,000. Finally, Quarry LP bought a new stake in Rigetti Computing in the 1st quarter worth approximately $31,000. Institutional investors own 35.38% of the company's stock.
Rigetti Computing Company Profile
(
Get 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.
See Also
Before you consider Rigetti Computing, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Rigetti Computing wasn't on the list.
While Rigetti Computing currently has a Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Enter your email address and we'll send you MarketBeat's guide to investing in 5G and which 5G stocks show the most promise.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
