Rigetti Computing, Inc. (NASDAQ:RGTI - Get Free Report) was the recipient of some unusual options trading activity on Wednesday. Investors purchased 181,340 call options on the company. This represents an increase of approximately 40% compared to the typical volume of 129,790 call options.
Wall Street Analyst Weigh In
A number of equities analysts recently issued reports on RGTI shares. Alliance Global Partners reiterated a "buy" rating on shares of Rigetti Computing in a research report on Thursday, March 6th. Benchmark reiterated a "buy" rating and issued a $14.00 price objective on shares of Rigetti Computing in a report on Thursday, May 15th. B. Riley increased their price target on Rigetti Computing from $8.50 to $15.00 and gave the company a "buy" rating in a research note on Friday, February 14th. Finally, Needham & Company LLC decreased their price target on Rigetti Computing from $17.00 to $15.00 and set a "buy" rating for the company in a research note on Wednesday, May 14th. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, Rigetti Computing currently has a consensus rating of "Buy" and an average price target of $14.00.
Check Out Our Latest Analysis on RGTI
Institutional Investors Weigh In On Rigetti Computing
Several large investors have recently modified their holdings of RGTI. Vanguard Group Inc. boosted its stake in shares of Rigetti Computing by 81.7% during the 4th quarter. Vanguard Group Inc. now owns 11,746,361 shares of the company's stock worth $179,249,000 after acquiring an additional 5,280,128 shares in the last quarter. Invesco Ltd. boosted its position in shares of Rigetti Computing by 7,367.2% in the 4th quarter. Invesco Ltd. now owns 4,580,317 shares of the company's stock valued at $69,896,000 after purchasing an additional 4,518,978 shares during the period. UNICOM Systems Inc. boosted its position in shares of Rigetti Computing by 1,235.8% in the 1st quarter. UNICOM Systems Inc. now owns 3,806,935 shares of the company's stock valued at $30,151,000 after purchasing an additional 3,521,935 shares during the period. JPMorgan Chase & Co. boosted its holdings in shares of 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 buying an additional 2,055,203 shares during the period. Finally, Nuveen LLC acquired a new position in shares of Rigetti Computing in the first quarter worth about $6,523,000. 35.38% of the stock is owned by institutional investors.
Rigetti Computing Price Performance
Shares of NASDAQ:RGTI traded down $0.24 during trading hours on Thursday, hitting $12.28. 87,609,226 shares of the company's stock traded hands, compared to its average volume of 56,877,548. Rigetti Computing has a 52 week low of $0.66 and a 52 week high of $21.42. The company has a debt-to-equity ratio of 0.02, a quick ratio of 4.84 and a current ratio of 4.84. The company's fifty day simple moving average is $10.49 and its two-hundred day simple moving average is $10.18. The company has a market cap of $3.57 billion, a price-to-earnings ratio of -32.31 and a beta of 1.50.
About Rigetti Computing
(
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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.
Further Reading
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