Rigetti Computing (NASDAQ:RGTI) Given New $4.00 Price Target at B. Riley

Rigetti Computing (NASDAQ:RGTI) had its price objective lifted by B. Riley from $3.50 to $4.00 in a research report released on Monday morning,Benzinga reports. The firm currently has a buy rating on the stock.

Other analysts have also issued reports about the company. Benchmark reissued a “buy” rating and issued a $2.50 price objective on shares of Rigetti Computing in a report on Thursday, November 14th. 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.

Rigetti Computing Price Performance

NASDAQ:RGTI opened at $2.40 on Monday. The company has a quick ratio of 4.84, a current ratio of 4.84 and a debt-to-equity ratio of 0.02. Rigetti Computing has a 52 week low of $1.13 and a 52 week high of $3.37. The stock’s 50-day moving average price is $1.22 and its 200-day moving average price is $1.06. The stock has a market capitalization of $461.52 million, a PE ratio of -6.32 and a beta of 2.13.

Insider Buying and Selling

In other Rigetti Computing news, Director Helene Gail Sandford sold 43,200 shares of the firm’s stock in a transaction 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 trade represents a 14.35 % decrease in their position. The sale 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 Rigetti Computing stock in a transaction on Monday, November 25th. The stock was sold at an average price of $3.00, for a total transaction of $375,000.00. Following the sale, the director now directly owns 1,313,864 shares in the company, valued at approximately $3,941,592. This trade represents a 8.69 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 2,748,325 shares of company stock worth $4,396,028 in the last 90 days.

Hedge Funds Weigh In On Rigetti Computing

Several hedge funds and other institutional investors have recently modified their holdings of the business. SG Americas Securities LLC purchased a new position in Rigetti Computing during the second quarter worth approximately $25,000. Cetera Advisors LLC purchased a new position in shares of Rigetti Computing during the 1st quarter worth $38,000. Comprehensive Financial Consultants Institutional Inc. purchased a new position in shares of Rigetti Computing during the 2nd quarter worth $27,000. PEAK6 Investments LLC acquired a new position in shares of Rigetti Computing during the 1st quarter valued at about $40,000. Finally, Caprock Group LLC purchased a new stake in shares of Rigetti Computing in the second quarter valued at about $42,000. 35.38% of the stock is owned by hedge funds and other institutional investors.

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.