Stock Traders Purchase High Volume of Call Options on Rigetti Computing (NASDAQ:RGTI)

Rigetti Computing, Inc. (NASDAQ:RGTI) saw some unusual options trading on Tuesday. Traders bought 27,421 call options on the company. This represents an increase of approximately 266% compared to the average volume of 7,490 call options.

Insider Buying and Selling at Rigetti Computing

In other news, major shareholder Bessemer Venture Partners X. L. sold 580,125 shares of Rigetti Computing stock in a transaction on Thursday, November 14th. The stock was sold at an average price of $1.63, for a total value of $945,603.75. Following the completion of the sale, the insider now directly owns 19,002,093 shares of the company’s stock, valued at approximately $30,973,411.59. The trade was a 2.96 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Michael S. Clifton sold 125,000 shares of the business’s stock in a transaction on Monday, December 9th. The shares were sold at an average price of $5.03, for a total value of $628,750.00. Following the completion of the sale, the director now owns 1,063,864 shares in the company, valued at $5,351,235.92. This represents a 10.51 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 2,998,325 shares of company stock worth $5,524,778 over the last quarter.

Hedge Funds Weigh In On Rigetti Computing

A number of institutional investors and hedge funds have recently modified their holdings of RGTI. SG Americas Securities LLC purchased a new stake in shares of Rigetti Computing during the 2nd quarter worth approximately $25,000. Cetera Advisors LLC purchased a new stake in Rigetti Computing in the first quarter valued at $38,000. Comprehensive Financial Consultants Institutional Inc. acquired a new position in Rigetti Computing in the second quarter valued at $27,000. Caprock Group LLC acquired a new stake in shares of Rigetti Computing during the second quarter worth about $42,000. Finally, Arete Wealth Advisors LLC purchased a new stake in shares of Rigetti Computing in the 3rd quarter valued at about $45,000. Institutional investors and hedge funds own 35.38% of the company’s stock.

Rigetti Computing Trading Up 45.2 %

Shares of NASDAQ:RGTI opened at $6.49 on Wednesday. Rigetti Computing has a 52 week low of $1.13 and a 52 week high of $6.89. The company’s 50 day moving average is $1.60 and its two-hundred day moving average is $1.17. The company has a market cap of $1.25 billion, a PE ratio of -17.08 and a beta of 2.71. The company has a current ratio of 4.84, a quick ratio of 4.84 and a debt-to-equity ratio of 0.02.

Wall Street Analyst Weigh In

RGTI has been the subject of several recent research reports. Benchmark reissued a “buy” rating and issued a $2.50 price target on shares of Rigetti Computing in a research report on Thursday, November 14th. Needham & Company LLC reiterated a “buy” rating and issued a $2.00 target price on shares of Rigetti Computing in a report on Wednesday, November 13th. 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 note on Monday, November 25th.

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.