Rigetti Computing, Inc. (NASDAQ:RGTI) Shares Bought by SG Americas Securities LLC

SG Americas Securities LLC raised its position in Rigetti Computing, Inc. (NASDAQ:RGTI) by 166.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 63,202 shares of the company’s stock after acquiring an additional 39,526 shares during the quarter. SG Americas Securities LLC’s holdings in Rigetti Computing were worth $49,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Comprehensive Financial Consultants Institutional Inc. acquired a new position in Rigetti Computing in the 2nd quarter valued at about $27,000. Cetera Advisors LLC acquired a new position in Rigetti Computing in the 1st quarter valued at about $38,000. PEAK6 Investments LLC acquired a new position in shares of Rigetti Computing during the first quarter worth about $40,000. Caprock Group LLC acquired a new position in shares of Rigetti Computing during the second quarter worth about $42,000. Finally, Point72 DIFC Ltd acquired a new position in shares of Rigetti Computing during the second quarter worth about $88,000. 35.38% of the stock is owned by institutional investors and hedge funds.

Rigetti Computing Price Performance

RGTI stock opened at $1.46 on Wednesday. The business has a 50 day moving average price of $0.90 and a 200 day moving average price of $1.00. The stock has a market cap of $279.21 million, a price-to-earnings ratio of -3.11 and a beta of 2.28. Rigetti Computing, Inc. has a fifty-two week low of $0.66 and a fifty-two week high of $2.36. 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 (NASDAQ:RGTI) last posted its earnings results 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 quarter in the previous year, the business earned ($0.13) earnings per share. Equities research analysts anticipate that Rigetti Computing, Inc. will post -0.34 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Helene Gail Sandford sold 43,200 shares of the business’s stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $0.82, for a total transaction of $35,424.00. Following the completion of the sale, the director now 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 through the SEC website. 2.81% of the stock is owned by company insiders.

Analysts Set New Price Targets

RGTI has been the subject of a number of analyst reports. B. Riley initiated coverage on Rigetti Computing in a research report on Thursday, July 25th. They set a “buy” rating and a $3.00 price objective for the company. Needham & Company LLC lowered their price objective on Rigetti Computing from $3.00 to $2.00 and set a “buy” rating for the company in a research report on Friday, August 9th.

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.