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.
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