Rigetti Computing, Inc. (NASDAQ:RGTI – Get Free Report) CFO Jeffrey Bertelsen sold 25,000 shares of Rigetti Computing stock in a transaction on Thursday, September 3rd. The shares were sold at an average price of $15.00, for a total value of $375,000.00. Following the transaction, the chief financial officer owned 168,067 shares in the company, valued at $2,521,005. This trade represents a 12.95% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Rigetti Computing Stock Up 0.1%
RGTI traded up $0.02 during midday trading on Friday, reaching $15.20. The company had a trading volume of 10,581,599 shares, compared to its average volume of 31,287,109. The business has a 50-day moving average of $16.48 and a two-hundred day moving average of $17.67. The company has a market cap of $5.07 billion, a P/E ratio of -16.89 and a beta of 2.00. Rigetti Computing, Inc. has a 1 year low of $12.53 and a 1 year high of $58.15.
Rigetti Computing (NASDAQ:RGTI – Get Free Report) last posted its quarterly earnings data on Thursday, August 6th. The company reported ($0.05) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.05). The firm had revenue of $5.14 million for the quarter, compared to analysts’ expectations of $5.09 million. Rigetti Computing had a negative return on equity of 17.50% and a negative net margin of 2,189.54%. On average, equities research analysts predict that Rigetti Computing, Inc. will post -0.27 EPS for the current year.
Institutional Trading of Rigetti Computing
Wall Street Analysts Forecast Growth
A number of analysts have recently issued reports on RGTI shares. Wall Street Zen cut shares of Rigetti Computing from a “hold” rating to a “sell” rating in a research note on Saturday, August 8th. Rosenblatt Securities restated a “buy” rating and set a $40.00 target price on shares of Rigetti Computing in a research note on Friday, August 7th. Mizuho dropped their target price on shares of Rigetti Computing from $33.00 to $27.00 and set an “outperform” rating for the company in a report on Tuesday, May 12th. Weiss Ratings raised Rigetti Computing from a “sell (e+)” rating to a “sell (d-)” rating in a report on Wednesday. Finally, Zacks Research downgraded Rigetti Computing from a “hold” rating to a “strong sell” rating in a research report on Wednesday, August 19th. Seven equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $30.67.
Check Out Our Latest Stock Report on Rigetti Computing
About Rigetti Computing
Rigetti Computing is a pioneering quantum computing company that designs and manufactures superconducting quantum processors alongside a complementary software stack. Founded in 2013 by CEO Chad Rigetti, the company has developed end-to-end quantum systems—from cryogenic hardware to control electronics—to advance the performance and scalability of quantum machines.
At the core of Rigetti’s offering is its Quantum Cloud Services (QCS) platform, which enables developers and enterprises to access quantum processing units (QPUs) and hybrid quantum-classical workflows via the cloud.
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