Rigetti Computing (NASDAQ:RGTI) Stock Price Expected to Rise, B. Riley Analyst Says

Rigetti Computing (NASDAQ:RGTI) had its price target boosted by investment analysts at B. Riley from $3.00 to $3.50 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. B. Riley’s price objective would indicate a potential upside of 106.49% from the company’s previous close.

Separately, Needham & Company LLC reissued a “buy” rating and set a $2.00 target price on shares of Rigetti Computing in a report on Wednesday.

Rigetti Computing Trading Up 13.8 %

NASDAQ:RGTI traded up $0.21 during mid-day trading on Wednesday, hitting $1.70. The stock had a trading volume of 12,561,718 shares, compared to its average volume of 14,013,384. The company’s 50 day simple moving average is $0.98 and its 200 day simple moving average is $1.02. Rigetti Computing has a twelve month low of $1.13 and a twelve month high of $1.75.

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 stock was 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 of the company’s stock, valued at $211,356.64. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 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 shares were sold at an average price of $0.82, for a total transaction of $35,424.00. Following the transaction, the director now owns 257,752 shares in the company, valued at $211,356.64. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, major shareholder Bessemer Venture Partners X. L. sold 1,286,114 shares of the firm’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $1.52, for a total value of $1,954,893.28. Following the transaction, the insider now owns 19,582,218 shares in the company, valued at approximately $29,764,971.36. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 2,043,200 shares of company stock valued at $3,075,424.

Hedge Funds Weigh In On Rigetti Computing

A number of hedge funds have recently made changes to their positions in RGTI. SG Americas Securities LLC bought a new stake in Rigetti Computing in the second quarter valued at approximately $25,000. Cetera Advisors LLC acquired a new position in shares of Rigetti Computing in the 1st quarter worth approximately $38,000. Comprehensive Financial Consultants Institutional Inc. bought a new stake in shares of Rigetti Computing in the 2nd quarter valued at $27,000. PEAK6 Investments LLC acquired a new stake in shares of Rigetti Computing during the first quarter worth $40,000. Finally, Caprock Group LLC bought a new position in Rigetti Computing during the second quarter worth $42,000.

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.