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

Rigetti Computing, Inc. (NASDAQ:RGTI) 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.

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:RGTI) 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

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.