Investors Purchase Large Volume of Rigetti Computing Call Options (NASDAQ:RGTI)

Rigetti Computing, Inc. (NASDAQ:RGTI) was the target of unusually large options trading activity on Monday. Stock investors acquired 4,877 call options on the company. This represents an increase of 311% compared to the typical daily volume of 1,187 call options.

Insider Buying and Selling

In other Rigetti Computing news, Director Helene Gail Sandford sold 43,200 shares of the company’s stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $0.82, for a total value of $35,424.00. Following the transaction, the director now directly owns 257,752 shares in the company, valued at $211,356.64. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 2.81% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Rigetti Computing

Several institutional investors and hedge funds have recently bought and sold shares of RGTI. Vanguard Group Inc. lifted its position in Rigetti Computing by 17.0% during the first quarter. Vanguard Group Inc. now owns 5,185,200 shares of the company’s stock worth $7,933,000 after purchasing an additional 753,110 shares during the period. Bank of New York Mellon Corp lifted its holdings in shares of Rigetti Computing by 3,788.5% in the second 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 during the last quarter. Rhumbline Advisers bought a new position in shares of Rigetti Computing in the second quarter worth about $161,000. XTX Topco Ltd lifted its holdings in shares of Rigetti Computing by 1,121.1% in the second quarter. XTX Topco Ltd now owns 156,515 shares of the company’s stock worth $167,000 after acquiring an additional 143,697 shares during the last quarter. Finally, Point72 DIFC Ltd bought a new position in shares of Rigetti Computing in the second quarter worth about $88,000. Institutional investors own 35.38% of the company’s stock.

Rigetti Computing Price Performance

RGTI traded up $0.30 on Monday, hitting $1.52. 11,214,131 shares of the stock were exchanged, compared to its average volume of 5,185,800. Rigetti Computing has a 12 month low of $0.66 and a 12 month high of $2.36. The business has a 50-day moving average of $0.87 and a two-hundred day moving average of $1.00. The company has a debt-to-equity ratio of 0.03, a current ratio of 4.29 and a quick ratio of 4.29. The firm has a market capitalization of $289.84 million, a price-to-earnings ratio of -2.96 and a beta of 2.28.

Rigetti Computing (NASDAQ:RGTI) last posted its quarterly earnings data on Thursday, August 8th. The company reported ($0.07) earnings per share for the quarter, topping the consensus estimate of ($0.10) by $0.03. Rigetti Computing had a negative net margin of 538.72% and a negative return on equity of 54.61%. The business had revenue of $3.09 million during the quarter, compared to analysts’ expectations of $3.53 million. During the same quarter in the prior year, the business posted ($0.13) earnings per share. Sell-side analysts forecast that Rigetti Computing will post -0.34 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

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

About Rigetti Computing

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.