Rigetti Computing, Inc. (NASDAQ:RGTI - Get Free Report)'s share price dropped 3.6% during trading on Friday . The company traded as low as $12.52 and last traded at $12.56. Approximately 9,557,994 shares changed hands during mid-day trading, a decline of 84% from the average daily volume of 59,145,056 shares. The stock had previously closed at $13.03.
Analyst Ratings Changes
RGTI has been the topic of several recent analyst reports. Needham & Company LLC reduced their target price on shares of Rigetti Computing from $17.00 to $15.00 and set a "buy" rating on the stock in a research note on Wednesday, May 14th. Benchmark reaffirmed a "buy" rating and issued a $14.00 price target on shares of Rigetti Computing in a research note on Thursday, May 15th. Finally, Cantor Fitzgerald began coverage on shares of Rigetti Computing in a research report on Wednesday, July 2nd. They issued an "overweight" rating and a $15.00 price objective for the company. Six investment analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has an average rating of "Buy" and a consensus target price of $14.20.
Get Our Latest Research Report on Rigetti Computing
Rigetti Computing Stock Performance
The company's fifty day simple moving average is $11.96 and its 200-day simple moving average is $11.04. The company has a market capitalization of $3.71 billion, a P/E ratio of -18.24 and a beta of 1.43.
Hedge Funds Weigh In On Rigetti Computing
Large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its holdings in shares of Rigetti Computing by 81.7% in the 4th quarter. Vanguard Group Inc. now owns 11,746,361 shares of the company's stock valued at $179,249,000 after buying an additional 5,280,128 shares in the last quarter. Invesco Ltd. boosted its stake in Rigetti Computing by 7,367.2% in the fourth quarter. Invesco Ltd. now owns 4,580,317 shares of the company's stock valued at $69,896,000 after acquiring an additional 4,518,978 shares in the last quarter. UNICOM Systems Inc. grew its holdings in Rigetti Computing by 1,235.8% in the first quarter. UNICOM Systems Inc. now owns 3,806,935 shares of the company's stock worth $30,151,000 after purchasing an additional 3,521,935 shares during the last quarter. JPMorgan Chase & Co. increased its position in shares of Rigetti Computing by 3,295.7% during 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 in the last quarter. Finally, Nuveen LLC acquired a new position in shares of Rigetti Computing during the first quarter worth $6,523,000. 35.38% of the stock is currently owned by institutional investors.
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.
Recommended Stories
Before you consider Rigetti Computing, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Rigetti Computing wasn't on the list.
While Rigetti Computing currently has a Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Enter your email address and we'll send you MarketBeat's list of ten stocks that are set to soar in Summer 2025, despite the threat of tariffs and other economic uncertainty. These ten stocks are incredibly resilient and are likely to thrive in any economic environment.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
