Rigetti Computing, Inc. (NASDAQ:RGTI) Director Sells $35,424.00 in Stock

Rigetti Computing, Inc. (NASDAQ:RGTI) Director Helene Gail Sandford sold 43,200 shares of Rigetti Computing 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 of the company’s stock, valued at $211,356.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Rigetti Computing Stock Performance

RGTI stock opened at $0.82 on Friday. The company has a quick ratio of 4.29, a current ratio of 4.29 and a debt-to-equity ratio of 0.03. Rigetti Computing, Inc. has a twelve month low of $0.66 and a twelve month high of $2.36. The company has a market cap of $155.88 million, a P/E ratio of -1.54 and a beta of 2.30. The business has a fifty day moving average of $0.92 and a 200-day moving average of $1.15.

Rigetti Computing (NASDAQ:RGTI) last announced 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. The firm had revenue of $3.09 million during the quarter, compared to analysts’ expectations of $3.53 million. Rigetti Computing had a negative return on equity of 54.61% and a negative net margin of 538.72%. During the same period in the previous year, the business posted ($0.13) EPS. As a group, equities research analysts expect that Rigetti Computing, Inc. will post -0.34 EPS for the current year.

Wall Street Analysts Forecast Growth

RGTI has been the subject of a number of recent analyst reports. Needham & Company LLC dropped 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 assumed coverage on shares of Rigetti Computing in a report on Thursday, July 25th. They set a “buy” rating and a $3.00 price objective for the company.

Hedge Funds Weigh In On Rigetti Computing

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

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.