Rigetti Computing Sees Unusually Large Options Volume (NASDAQ:RGTI)

Rigetti Computing, Inc. (NASDAQ:RGTI) was the target of unusually large options trading activity on Monday. Traders purchased 49,099 call options on the company. This is an increase of 2,032% compared to the average daily volume of 2,303 call options.

Insider Transactions at Rigetti Computing

In related news, Director Helene Gail Sandford sold 43,200 shares of the stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $0.82, for a total value of $35,424.00. Following the transaction, the director now owns 257,752 shares in the company, valued at approximately $211,356.64. This represents a 14.35 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Michael S. Clifton sold 125,000 shares of Rigetti Computing stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $3.00, for a total transaction of $375,000.00. Following the completion of the sale, the director now owns 1,313,864 shares of the company’s stock, valued at $3,941,592. This trade represents a 8.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 2,748,325 shares of company stock valued at $4,396,028 over the last three months.

Hedge Funds Weigh In On Rigetti Computing

Institutional investors have recently made changes to their positions in the business. SG Americas Securities LLC bought a new position in Rigetti Computing in the 2nd quarter worth approximately $25,000. Cetera Advisors LLC bought a new stake in Rigetti Computing in the 1st quarter valued at $38,000. Comprehensive Financial Consultants Institutional Inc. acquired a new stake in Rigetti Computing in the 2nd quarter worth $27,000. PEAK6 Investments LLC bought a new position in shares of Rigetti Computing during the 1st quarter worth about $40,000. Finally, Caprock Group LLC acquired a new position in shares of Rigetti Computing during the second quarter valued at about $42,000. 35.38% of the stock is currently owned by institutional investors.

Rigetti Computing Stock Performance

Shares of RGTI opened at $2.20 on Wednesday. The company has a market capitalization of $423.06 million, a PE ratio of -5.79 and a beta of 2.13. The company has a debt-to-equity ratio of 0.02, a current ratio of 4.84 and a quick ratio of 4.84. Rigetti Computing has a one year low of $1.13 and a one year high of $3.37. The company’s fifty day moving average price is $1.16 and its 200 day moving average price is $1.04.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on RGTI shares. Benchmark reiterated a “buy” rating and issued a $2.50 price objective on shares of Rigetti Computing in a report on Thursday, November 14th. B. Riley upped their price target on Rigetti Computing from $3.50 to $4.00 and gave the stock a “buy” rating in a research note on Monday. Finally, Needham & Company LLC reissued a “buy” rating and set a $2.00 price objective on shares of Rigetti Computing in a report on Wednesday, November 13th.

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.