Michael S. Clifton Sells 125,000 Shares of Rigetti Computing, Inc. (NASDAQ:RGTI) Stock

Rigetti Computing, Inc. (NASDAQ:RGTI) Director Michael S. Clifton sold 125,000 shares of Rigetti Computing stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $3.00, for a total value of $375,000.00. Following the transaction, the director now directly owns 1,313,864 shares of the company’s stock, valued at $3,941,592. The trade was a 8.69 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Rigetti Computing Trading Down 20.0 %

Shares of RGTI opened at $2.20 on Wednesday. Rigetti Computing, Inc. has a fifty-two week low of $1.13 and a fifty-two week high of $3.37. The firm has a market cap of $423.06 million, a price-to-earnings ratio of -5.79 and a beta of 2.13. The firm has a 50 day moving average price of $1.16 and a 200-day moving average price of $1.04. The company has a debt-to-equity ratio of 0.02, a quick ratio of 4.84 and a current ratio of 4.84.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on RGTI shares. Needham & Company LLC reaffirmed a “buy” rating and set a $2.00 target price on shares of Rigetti Computing in a report on Wednesday, November 13th. Benchmark reiterated a “buy” rating and issued a $2.50 price objective on shares of Rigetti Computing in a research report on Thursday, November 14th. Finally, B. Riley boosted their target price on Rigetti Computing from $3.50 to $4.00 and gave the stock a “buy” rating in a research report on Monday.

Institutional Trading of Rigetti Computing

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

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.