150,366 Shares in Rigetti Computing, Inc. (NASDAQ:RGTI) Purchased by Rhumbline Advisers

Rhumbline Advisers purchased a new stake in Rigetti Computing, Inc. (NASDAQ:RGTI) in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 150,366 shares of the company’s stock, valued at approximately $161,000. Rhumbline Advisers owned about 0.09% of Rigetti Computing at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in RGTI. SG Americas Securities LLC purchased a new position in shares of Rigetti Computing in the second quarter worth approximately $25,000. Cetera Advisors LLC purchased a new position in Rigetti Computing during the 1st quarter worth approximately $38,000. Comprehensive Financial Consultants Institutional Inc. acquired a new stake in Rigetti Computing during the 2nd quarter valued at $27,000. PEAK6 Investments LLC purchased a new stake in shares of Rigetti Computing in the first quarter valued at $40,000. Finally, Quadrature Capital Ltd acquired a new stake in shares of Rigetti Computing in the fourth quarter worth $159,000. Institutional investors own 35.38% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently issued reports on RGTI shares. Needham & Company LLC cut their price objective on Rigetti Computing from $3.00 to $2.00 and set a “buy” rating for the company in a report on Friday, August 9th. B. Riley initiated coverage on Rigetti Computing in a report on Thursday, July 25th. They set a “buy” rating and a $3.00 price target for the company.

Insider Buying and Selling at Rigetti Computing

In other news, Director Helene Gail Sandford sold 43,200 shares of the firm’s stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $0.82, for a total value of $35,424.00. Following the completion of the transaction, the director now owns 257,752 shares in the company, valued at approximately $211,356.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In the last three months, insiders have sold 83,200 shares of company stock worth $73,624. Insiders own 2.60% of the company’s stock.

Rigetti Computing Stock Up 4.1 %

Shares of RGTI opened at $0.81 on Monday. The company has a debt-to-equity ratio of 0.03, a current ratio of 4.29 and a quick ratio of 4.29. The company has a market capitalization of $139.29 million, a P/E ratio of -1.53 and a beta of 2.30. Rigetti Computing, Inc. has a one year low of $0.66 and a one year high of $2.36. The business’s 50 day simple moving average is $0.87 and its 200-day simple moving average is $1.09.

Rigetti Computing (NASDAQ:RGTI) last issued its quarterly earnings data on Thursday, August 8th. The company reported ($0.07) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.10) by $0.03. Rigetti Computing had a negative net margin of 538.72% and a negative return on equity of 54.61%. The firm had revenue of $3.09 million during the quarter, compared to analysts’ expectations of $3.53 million. During the same quarter in the previous year, the company earned ($0.13) earnings per share. As a group, sell-side analysts predict that Rigetti Computing, Inc. will post -0.34 EPS for the current fiscal year.

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.