Rigetti Computing, Inc. (NASDAQ:RGTI - Get Free Report) traded up 1.3% on Wednesday . The company traded as high as $11.77 and last traded at $11.63. 11,942,444 shares were traded during mid-day trading, a decline of 79% from the average session volume of 57,401,565 shares. The stock had previously closed at $11.48.
Analyst Upgrades and Downgrades
Several analysts recently issued reports on the company. Alliance Global Partners reissued a "buy" rating on shares of Rigetti Computing in a research note on Thursday, March 6th. Needham & Company LLC lowered their target price on shares of Rigetti Computing from $17.00 to $15.00 and set a "buy" rating on the stock in a report on Wednesday, May 14th. Finally, Benchmark restated a "buy" rating and set a $14.00 target price on shares of Rigetti Computing in a research report on Thursday, May 15th. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has a consensus rating of "Buy" and an average price target of $14.00.
Get Our Latest Report on RGTI
Rigetti Computing Stock Down 1.7%
The stock has a market capitalization of $3.28 billion, a PE ratio of -16.11 and a beta of 1.50. The business's fifty day moving average is $10.77 and its two-hundred day moving average is $10.48.
Institutional Investors Weigh In On Rigetti Computing
Institutional investors have recently modified their holdings of the stock. Signaturefd LLC purchased a new position in Rigetti Computing during the fourth quarter worth $25,000. EverSource Wealth Advisors LLC purchased a new position in shares of Rigetti Computing during the 4th quarter worth about $28,000. Tucker Asset Management LLC bought a new position in Rigetti Computing during the 4th quarter valued at about $32,000. Orion Capital Management LLC bought a new stake in Rigetti Computing in the fourth quarter worth about $46,000. Finally, GAMMA Investing LLC boosted its position in shares of Rigetti Computing by 1,813.0% during the first quarter. GAMMA Investing LLC now owns 3,233 shares of the company's stock valued at $26,000 after buying an additional 3,064 shares during the period. 35.38% of the stock is owned by institutional investors.
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.
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