Rigetti Computing, Inc. (NASDAQ:RGTI – Get Free Report) shares were down 5.6% during trading on Friday . The company traded as low as $10.34 and last traded at $10.61. Approximately 67,341,468 shares were traded during trading, a decline of 68% from the average daily volume of 210,477,859 shares. The stock had previously closed at $11.24.
Wall Street Analyst Weigh In
A number of analysts have recently commented on RGTI shares. Needham & Company LLC reiterated a “buy” rating and set a $2.00 target price on shares of Rigetti Computing in a research report on Wednesday, November 13th. Benchmark restated a “buy” rating and issued a $2.50 price target on shares of Rigetti Computing in a research report on Thursday, November 14th. B. Riley boosted their price target on Rigetti Computing from $4.00 to $8.50 and gave the company a “buy” rating in a research report on Tuesday, January 14th. Finally, Craig Hallum began coverage on Rigetti Computing in a research report on Friday, December 20th. They issued a “buy” rating and a $12.00 price target on the stock. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Rigetti Computing currently has an average rating of “Buy” and an average target price of $5.70.
Check Out Our Latest Report on Rigetti Computing
Rigetti Computing Price Performance
Insiders Place Their Bets
In other Rigetti Computing news, major shareholder Bessemer Venture Partners X. L. sold 713,886 shares of the business’s stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $1.52, for a total transaction of $1,085,106.72. Following the transaction, the insider now owns 20,868,332 shares in the company, valued at approximately $31,719,864.64. The trade was a 3.31 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Michael S. Clifton sold 125,000 shares of the business’s stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $5.03, for a total value of $628,750.00. Following the transaction, the director now owns 1,063,864 shares in the company, valued at $5,351,235.92. The trade was a 10.51 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 2,955,125 shares of company stock worth $5,489,354.
Institutional Investors Weigh In On Rigetti Computing
Several institutional investors have recently modified their holdings of the company. Penserra Capital Management LLC boosted its stake in shares of Rigetti Computing by 9.8% during the 3rd quarter. Penserra Capital Management LLC now owns 4,553,633 shares of the company’s stock worth $3,565,000 after acquiring an additional 407,389 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Rigetti Computing by 20.6% during the 3rd quarter. Geode Capital Management LLC now owns 3,621,829 shares of the company’s stock worth $2,837,000 after acquiring an additional 617,506 shares in the last quarter. State Street Corp boosted its stake in shares of Rigetti Computing by 12.9% during the 3rd quarter. State Street Corp now owns 2,715,223 shares of the company’s stock worth $2,126,000 after acquiring an additional 309,831 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of Rigetti Computing by 14.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,149,934 shares of the company’s stock worth $901,000 after acquiring an additional 144,742 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its stake in shares of Rigetti Computing by 3,788.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 410,705 shares of the company’s stock worth $439,000 after acquiring an additional 400,143 shares in the last quarter. Hedge funds and other institutional investors own 35.38% of the company’s stock.
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.
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