Alissa Fitzgerald, director of Rigetti Computing, Inc. (NASDAQ:RGTI – Get Rating), sold 8,000 shares of the company’s stock in a transaction on Wednesday, September 14. The shares were sold at an average price of 2.33 for a total value of 18,640.00. Following the sale, the director now directly owns 67,436 shares of the company, valued at approximately $157,125.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC’s website.
Rigetti Computing price performance
NASDAQ:RGTI shares rose 0.01 during Friday afternoon trade to hit 2.29. The stock had a trading volume of 1,910,586 shares compared to an average volume of 680,848. The company has a current ratio of 17.06, a quick ratio of 17.06 and a debt to equity ratio of 0.14. Rigetti Computing, Inc. has a 1 year low of 2.09 and a 1 year high of 12.75. The company has a 50-day moving average of 4.08.
Rigetti Computing (NASDAQ:RGTI – Get Rating) last reported earnings results on Thursday, August 11th. The company reported -0.09 EPS for the quarter, missing analyst consensus estimates of -0.06 by -0.03. On average, equities analysts are forecasting that Rigetti Computing, Inc. will report earnings per share of -0.41 for the current fiscal year.
Institutional investors rely on Rigetti Computing
Hedge funds have recently changed their positions in the company. Penserra Capital Management LLC acquired a new interest in Rigetti Computing stock valued at approximately $26,000 during the first quarter. Strs Ohio acquired a new stake in Rigetti Computing for approximately $27,000 during the second quarter. SG Americas Securities LLC acquired a new interest in Rigetti Computing for approximately $41,000 during the second quarter. Oppenheimer & Co. Inc. acquired a new interest in Rigetti Computing for approximately $55,000 during the second quarter. Finally, during the second quarter, American International Group Inc. acquired a new stake in Rigetti Computing for approximately $55,000. 42.96% of the shares are currently owned by hedge funds and other institutional investors.
Analyst upgrades and downgrades
A number of equity analysts recently covered RGTI stock. Benchmark lowered its target price on Rigetti Computing to $10.00 in a research note on Monday, August 15. Deutsche Bank Aktiengesellschaft began reporting on Rigetti Computing in a research note on Tuesday, August 9th. They issued a buy rating and a price target of $10.00 on the company. Cowen began reporting on Rigetti Computing in a research note on Friday, May 27. They gave the company an “Outperform” rating. Cowen began reporting on Rigetti Computing in a research note on Friday, May 27. They gave the company an “Outperform” rating. Finally, on Tuesday, June 7th, Needham & Company LLC began reporting on Rigetti Computing in a research note. They issued a buy rating and a price target of $11.00 on the company. Five investment analysts have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of 10.33.
About Rigetti Computing
Rigetti Computing, Inc is an integrated systems company. The company builds quantum computers and the superconducting quantum processors that power them. Its machines are integrated with various public, private or hybrid clouds via its Quantum Cloud Services platform. The company was founded in 2013 and is based in Berkeley, California.
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