Rigetti Computing Sees Unusually High Options Volume (NASDAQ:RGTI)

Rigetti Computing, Inc. (NASDAQ:RGTIGet Free Report) was the target of some unusual options trading on Monday. Stock investors bought 4,877 call options on the company. This is an increase of 311% compared to the typical volume of 1,187 call options.

Insider Activity at Rigetti Computing

In other Rigetti Computing news, Director Helene Gail Sandford sold 43,200 shares of the stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $0.82, for a total value of $35,424.00. Following the transaction, the director now owns 257,752 shares in the company, valued at approximately $211,356.64. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 2.81% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Rigetti Computing

A number of hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. raised its position in Rigetti Computing by 17.0% in the first quarter. Vanguard Group Inc. now owns 5,185,200 shares of the company’s stock worth $7,933,000 after acquiring an additional 753,110 shares during the period. PEAK6 Investments LLC bought a new position in Rigetti Computing during the first quarter valued at $40,000. Cetera Advisors LLC purchased a new stake in Rigetti Computing in the first quarter worth $38,000. SG Americas Securities LLC purchased a new position in shares of Rigetti Computing during the 2nd quarter valued at $25,000. Finally, Comprehensive Financial Consultants Institutional Inc. bought a new stake in Rigetti Computing in the 2nd quarter valued at about $27,000. 35.38% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on RGTI. B. Riley started coverage on shares of Rigetti Computing in a research report on Thursday, July 25th. They set a “buy” rating and a $3.00 target price for the company. Needham & Company LLC lowered their price objective on Rigetti Computing from $3.00 to $2.00 and set a “buy” rating for the company in a research note on Friday, August 9th.

Get Our Latest Research Report on Rigetti Computing

Rigetti Computing Stock Down 2.8 %

Rigetti Computing stock traded down $0.04 during midday trading on Wednesday, hitting $1.42. 7,390,956 shares of the stock were exchanged, compared to its average volume of 5,280,394. The company has a quick ratio of 4.29, a current ratio of 4.29 and a debt-to-equity ratio of 0.03. The stock has a market capitalization of $271.47 million, a price-to-earnings ratio of -2.85 and a beta of 2.28. Rigetti Computing has a 52-week low of $0.66 and a 52-week high of $2.36. The business’s 50-day moving average price is $0.90 and its 200-day moving average price is $1.00.

Rigetti Computing (NASDAQ:RGTIGet Free Report) last issued its quarterly earnings results on Thursday, August 8th. The company reported ($0.07) EPS for the quarter, beating analysts’ consensus estimates of ($0.10) by $0.03. The company had revenue of $3.09 million during the quarter, compared to the consensus estimate of $3.53 million. Rigetti Computing had a negative return on equity of 54.61% and a negative net margin of 538.72%. During the same period last year, the business posted ($0.13) earnings per share. On average, research analysts expect that Rigetti Computing will post -0.34 EPS for the current fiscal year.

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.

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