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

Rigetti Computing, Inc. (NASDAQ:RGTI) was the recipient of some unusual options trading on Monday. Investors 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.

Analyst Upgrades and Downgrades

RGTI has been the topic of a number of recent analyst reports. Benchmark reaffirmed a “buy” rating and set a $2.50 price target on shares of Rigetti Computing in a research note on Thursday, November 14th. B. Riley upped their target price on shares of Rigetti Computing from $3.50 to $4.00 and gave the stock a “buy” rating in a research report on Monday. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $2.00 target price on shares of Rigetti Computing in a report on Wednesday, November 13th.

Insider Activity at Rigetti Computing

In other Rigetti Computing news, Director Helene Gail Sandford sold 43,200 shares of the company’s stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $0.82, for a total transaction of $35,424.00. Following the completion of the sale, the director now directly owns 257,752 shares of the company’s stock, valued at $211,356.64. This represents a 14.35 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 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 value of $375,000.00. Following the completion of the transaction, the director now owns 1,313,864 shares in the company, 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 a total of 2,748,325 shares of company stock valued at $4,396,028 in the last three months.

Institutional Trading of Rigetti Computing

A number of institutional investors and hedge funds have recently bought and sold shares of RGTI. SG Americas Securities LLC purchased a new stake in shares of Rigetti Computing during the second quarter valued at approximately $25,000. Cetera Advisors LLC purchased a new stake in Rigetti Computing during the 1st quarter worth $38,000. Comprehensive Financial Consultants Institutional Inc. acquired a new position in Rigetti Computing in the 2nd quarter worth $27,000. PEAK6 Investments LLC purchased a new position in Rigetti Computing in the 1st quarter valued at about $40,000. Finally, Caprock Group LLC acquired a new stake in shares of Rigetti Computing during the second quarter valued at about $42,000. Institutional investors and hedge funds own 35.38% of the company’s stock.

Rigetti Computing Stock Up 58.0 %

Shares of NASDAQ:RGTI opened at $2.75 on Tuesday. The company has a current ratio of 4.84, a quick ratio of 4.84 and a debt-to-equity ratio of 0.02. The firm has a market cap of $528.83 million, a price-to-earnings ratio of -7.24 and a beta of 2.13. The stock’s 50-day moving average price is $1.13 and its two-hundred day moving average price is $1.03. Rigetti Computing has a 12-month low of $1.13 and a 12-month high of $3.37.

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.