Rigetti Computing, Inc. (NASDAQ:RGTI - Get Free Report)'s stock price was up 14.2% during trading on Wednesday . The company traded as high as $13.56 and last traded at $12.84. Approximately 89,691,353 shares were traded during trading, an increase of 10% from the average daily volume of 81,334,734 shares. The stock had previously closed at $11.24.
Analysts Set New Price Targets
A number of equities analysts have recently commented on RGTI shares. Needham & Company LLC cut their price target 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. Benchmark reiterated a "buy" rating and set a $14.00 price target on shares of Rigetti Computing in a report on Thursday, May 15th. B. Riley upped their price target on shares of Rigetti Computing from $8.50 to $15.00 and gave the company a "buy" rating in a research report on Friday, February 14th. Finally, Alliance Global Partners reissued a "buy" rating on shares of Rigetti Computing in a research report on Thursday, March 6th. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company currently has a consensus rating of "Buy" and an average target price of $14.00.
Get Our Latest Stock Report on Rigetti Computing
Rigetti Computing Price Performance
The company has a current ratio of 4.84, a quick ratio of 4.84 and a debt-to-equity ratio of 0.02. The business has a fifty day simple moving average of $10.49 and a 200 day simple moving average of $10.18. The stock has a market capitalization of $3.51 billion, a P/E ratio of -31.84 and a beta of 1.50.
Institutional Trading of Rigetti Computing
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Signaturefd LLC bought a new stake in Rigetti Computing during the 4th quarter worth approximately $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 purchased a new position in Rigetti Computing in the fourth quarter valued at approximately $32,000. Orion Capital Management LLC bought a new position in shares of Rigetti Computing in the fourth quarter worth $46,000. Finally, GAMMA Investing LLC raised its position in shares of Rigetti Computing by 1,813.0% in the first quarter. GAMMA Investing LLC now owns 3,233 shares of the company's stock worth $26,000 after buying an additional 3,064 shares in the last quarter. 35.38% of the stock is owned by institutional investors.
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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