Quadrature Capital Ltd Invests $159,000 in Rigetti Computing, Inc. (NASDAQ:RGTI)

Quadrature Capital Ltd purchased a new position in shares of Rigetti Computing, Inc. (NASDAQ:RGTI) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 162,396 shares of the company’s stock, valued at approximately $159,000. Quadrature Capital Ltd owned 0.10% of Rigetti Computing at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Chesapeake Capital Corp IL acquired a new stake in shares of Rigetti Computing during the fourth quarter worth about $47,000. Procyon Advisors LLC acquired a new stake in shares of Rigetti Computing during the fourth quarter worth about $65,000. Brighton Jones LLC raised its position in shares of Rigetti Computing by 100.0% during the fourth quarter. Brighton Jones LLC now owns 123,532 shares of the company’s stock worth $122,000 after purchasing an additional 61,766 shares during the period. CIBC Private Wealth Group LLC raised its position in shares of Rigetti Computing by 3,302.0% during the fourth quarter. CIBC Private Wealth Group LLC now owns 1,020,591 shares of the company’s stock worth $1,005,000 after purchasing an additional 990,591 shares during the period. Finally, Penserra Capital Management LLC raised its position in shares of Rigetti Computing by 9.0% during the third quarter. Penserra Capital Management LLC now owns 2,118,751 shares of the company’s stock worth $2,817,000 after purchasing an additional 174,408 shares during the period. Institutional investors and hedge funds own 35.38% of the company’s stock.

Analysts Set New Price Targets

RGTI has been the subject of a number of research reports. Alliance Global Partners initiated coverage on Rigetti Computing in a report on Friday, March 1st. They set a “buy” rating and a $3.50 price objective for the company. Benchmark restated a “buy” rating and issued a $3.00 price target on shares of Rigetti Computing in a research note on Monday, May 13th. Finally, Needham & Company LLC restated a “buy” rating and issued a $3.00 price target on shares of Rigetti Computing in a research note on Monday, May 13th.

Rigetti Computing Stock Performance

Shares of NASDAQ RGTI opened at $1.05 on Friday. The company has a current ratio of 4.42, a quick ratio of 4.42 and a debt-to-equity ratio of 0.06. Rigetti Computing, Inc. has a 12 month low of $0.88 and a 12 month high of $3.43. The stock has a 50 day moving average of $1.12 and a 200-day moving average of $1.27. The company has a market capitalization of $180.52 million, a P/E ratio of -1.98 and a beta of 2.33.

Rigetti Computing (NASDAQ:RGTI) last released its quarterly earnings results on Thursday, May 9th. The company reported ($0.14) earnings per share for the quarter, missing the consensus estimate of ($0.08) by ($0.06). The firm had revenue of $3.05 million for the quarter. Rigetti Computing had a negative return on equity of 59.05% and a negative net margin of 563.97%. During the same period in the prior year, the firm posted ($0.19) earnings per share. As a group, equities research analysts predict that Rigetti Computing, Inc. will post -0.26 EPS for the current year.

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.