Shares of Rigetti Computing, Inc. (NASDAQ:RGTI - Get Free Report) gapped up prior to trading on Tuesday . The stock had previously closed at $12.05, but opened at $12.53. Rigetti Computing shares last traded at $11.92, with a volume of 20,594,149 shares trading hands.
Analysts Set New Price Targets
Several equities analysts have recently issued reports on RGTI shares. Benchmark reissued a "buy" rating and issued a $14.00 price objective on shares of Rigetti Computing in a report on Thursday, May 15th. Needham & Company LLC decreased their target price on Rigetti Computing from $17.00 to $15.00 and set a "buy" rating on the stock in a research report on Wednesday, May 14th. B. Riley boosted their price target on shares of Rigetti Computing from $8.50 to $15.00 and gave the stock a "buy" rating in a report on Friday, February 14th. Finally, Alliance Global Partners reissued a "buy" rating on shares of Rigetti Computing in a report on Thursday, March 6th. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus target price of $14.00.
View Our Latest Research Report on RGTI
Rigetti Computing Stock Performance
The stock has a market cap of $3.41 billion, a price-to-earnings ratio of -32.56 and a beta of 1.41. The company has a debt-to-equity ratio of 0.02, a current ratio of 4.84 and a quick ratio of 4.84. The firm has a fifty day moving average of $9.35 and a 200 day moving average of $8.98.
Rigetti Computing (NASDAQ:RGTI - Get Free Report) last announced its quarterly earnings data on Wednesday, March 5th. The company reported ($0.08) earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of ($0.08). Rigetti Computing had a negative net margin of 509.58% and a negative return on equity of 51.56%. The firm had revenue of $2.27 million during the quarter, compared to analyst estimates of $2.40 million. During the same quarter in the prior year, the firm posted ($0.04) earnings per share. As a group, sell-side analysts forecast that Rigetti Computing, Inc. will post -0.34 EPS for the current year.
Insiders Place Their Bets
In other Rigetti Computing news, CTO David Rivas sold 351,785 shares of the business's stock in a transaction that occurred on Tuesday, March 11th. The stock was sold at an average price of $7.76, for a total value of $2,729,851.60. Following the sale, the chief technology officer now owns 1,094,738 shares of the company's stock, valued at $8,495,166.88. The trade was a 24.32% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 1.90% of the stock is owned by insiders.
Institutional Trading of Rigetti Computing
Hedge funds have recently made changes to their positions in the business. Signaturefd LLC purchased a new position in Rigetti Computing in the fourth quarter valued at $25,000. EverSource Wealth Advisors LLC purchased a new position in Rigetti Computing in the fourth quarter valued at approximately $28,000. Tucker Asset Management LLC acquired a new stake in Rigetti Computing during the 4th quarter worth $32,000. Spire Wealth Management acquired a new stake in shares of Rigetti Computing during the fourth quarter worth about $46,000. Finally, Orion Capital Management LLC acquired a new position in Rigetti Computing during the fourth quarter worth approximately $46,000. Institutional investors and hedge funds own 35.38% of the company's stock.
About Rigetti Computing
(
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.
Further Reading
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