Shares of Rigetti Computing, Inc. (NASDAQ:RGTI - Get Free Report) were down 2.7% on Wednesday . The stock traded as low as $12.83 and last traded at $13.01. Approximately 15,461,531 shares traded hands during mid-day trading, a decline of 74% from the average daily volume of 59,088,660 shares. The stock had previously closed at $13.38.
Wall Street Analyst Weigh In
A number of research analysts recently weighed in on RGTI shares. Needham & Company LLC reduced their price objective on shares of Rigetti Computing from $17.00 to $15.00 and set a "buy" rating for the company in a research note on Wednesday, May 14th. Benchmark restated a "buy" rating and set a $14.00 price target on shares of Rigetti Computing in a research report on Thursday, May 15th. Finally, Cantor Fitzgerald initiated coverage on Rigetti Computing in a report on Wednesday, July 2nd. They issued an "overweight" rating and a $15.00 price objective for the company. Six analysts have rated the stock with a buy rating, According to MarketBeat, the company has a consensus rating of "Buy" and a consensus target price of $14.20.
Get Our Latest Stock Analysis on RGTI
Rigetti Computing Stock Performance
The business has a 50 day moving average price of $11.90 and a 200 day moving average price of $11.10.
Institutional Trading of Rigetti Computing
Hedge funds have recently bought and sold shares of the stock. Signaturefd LLC purchased a new stake in shares of Rigetti Computing during the 4th quarter valued at $25,000. GAMMA Investing LLC lifted its holdings in shares of Rigetti Computing by 1,813.0% during the 1st 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. EverSource Wealth Advisors LLC purchased a new stake in shares of Rigetti Computing during the 4th quarter valued at $28,000. Center for Financial Planning Inc. purchased a new stake in shares of Rigetti Computing during the 1st quarter valued at $30,000. Finally, Quarry LP purchased a new stake in shares of Rigetti Computing during the 1st quarter valued at $31,000. Hedge funds and other institutional investors own 35.38% of the company's stock.
Rigetti Computing Company Profile
(
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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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