Rigetti Computing, Inc. (NASDAQ:RGTI - Get Free Report) shares traded up 3.4% during trading on Monday . The stock traded as high as $12.67 and last traded at $12.60. 10,576,975 shares were traded during trading, a decline of 86% from the average session volume of 75,249,898 shares. The stock had previously closed at $12.18.
Analyst Ratings Changes
Several analysts have commented on the company. Cantor Fitzgerald assumed coverage on Rigetti Computing in a research note on Wednesday, July 2nd. They set an "overweight" rating and a $15.00 target price on the stock. Benchmark reiterated a "buy" rating and set a $14.00 target price on shares of Rigetti Computing in a research note on Thursday, May 15th. Finally, Needham & Company LLC cut their target price on Rigetti Computing from $17.00 to $15.00 and set a "buy" rating on the stock in a research note on Wednesday, May 14th. Six analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has a consensus rating of "Buy" and an average target price of $14.20.
Check Out Our Latest Stock Report on Rigetti Computing
Rigetti Computing Stock Performance
The stock has a fifty day moving average of $11.90 and a 200 day moving average of $11.07. The company has a market capitalization of $3.71 billion, a P/E ratio of -18.24 and a beta of 1.43.
Institutional Inflows and Outflows
A number of institutional investors have recently made changes to their positions in RGTI. Steward Partners Investment Advisory LLC bought a new stake in Rigetti Computing in the fourth quarter worth about $83,000. JPMorgan Chase & Co. grew its holdings in Rigetti Computing by 3,295.7% in the fourth quarter. JPMorgan Chase & Co. now owns 2,117,563 shares of the company's stock worth $32,314,000 after purchasing an additional 2,055,203 shares during the last quarter. The Manufacturers Life Insurance Company purchased a new position in Rigetti Computing in the fourth quarter worth $848,000. Jones Financial Companies Lllp purchased a new position in Rigetti Computing in the fourth quarter worth $50,000. Finally, Alliancebernstein L.P. grew its holdings in Rigetti Computing by 11.5% in the fourth quarter. Alliancebernstein L.P. now owns 155,480 shares of the company's stock worth $2,373,000 after purchasing an additional 15,980 shares during the last quarter. Hedge funds and other institutional investors 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.
See Also
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