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Insider Selling: Rigetti Computing, Inc. (NASDAQ: RGTI) CEO Sells 10,019 Shares

Rigetti Computing, Inc. (NASDAQ:RGTI – Get Rating) CEO Richard Danis sold 10,019 shares of the company in a trade on Wednesday, December 7. The shares were sold at an average price of 1.03, for a total transaction of 10,319.57. Following the sale, the chief executive now directly owns 485,461 shares of the company, valued at approximately 500,024.83. The transaction was disclosed in a filing with the Securities & Exchange Commission, accessible via this link.

Richard Danis also recently made the following trade(s):

  • On Friday, December 9, Richard Danis sold 6,274 Rigetti Computing shares. The shares were sold at an average price of 1.01, for a total transaction of 6,336.74.

Stock Performance Calculation

Shares of Rigetti Computing traded down 0.03 in Friday’s session, hitting 0.99. The stock recorded a trading volume of 669,900 shares, against an average volume of 718,392. The company’s fifty-day simple moving average is 1.60 and its 200-day simple moving average is 3, 44. The company has a debt ratio of 0.14, a current ratio of 10.40 and a quick ratio of 10.40. Rigetti Computing, Inc. has a 12-month low of 0.98 and a 12-month high of 11.37.

Rigetti Computing (NASDAQ:RGTI – Get Rating) last reported results on Monday, November 21. The company reported -0.16 earnings per share (EPS) for the quarter, missing the consensus estimate of -0.10 by -0.06. The company posted revenue of 2.80 million for the quarter, compared to 3.31 million expected by analysts. As a group, stock analysts expect Rigetti Computing, Inc. to post -0.54 earnings per share for the current year.

Wall Street analysts predict growth

A number of equity research analysts have recently released RGTI stock reports. The benchmark downgraded shares of Rigetti Computing from a “buy” rating to a “hold” rating in a Thursday, Nov. 10 research note. Needham & Company LLC cut its price target on Rigetti Computing shares from $11.00 to $3.00 and set a “buy” rating on the stock in a Tuesday, November 15 research note. Finally, Deutsche Bank Aktiengesellschaft downgraded Rigetti Computing shares from a “buy” rating to a “hold” rating and lowered its price target for the company from $10.00 to $2.00 in a rating of research from Thursday, November 10. Two analysts gave the stock a hold rating and three gave the stock a buy rating. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of 4.33.

Institutional investors weigh in on Rigetti Computing

Institutional investors have recently changed their positions in the company. Penserra Capital Management LLC bought a new position in Rigetti Computing in Q1 worth approximately $26,000. Strs Ohio bought a new position in Rigetti Computing in Q2 worth about $27,000. Oppenheimer & Co. Inc. increased its stake in Rigetti Computing by 70.6% in the third quarter. Oppenheimer & Co. Inc. now owns 25,587 shares of the company worth $48,000 after purchasing an additional 10,587 shares during the period. SG Americas Securities LLC bought a new position in Rigetti Computing in Q2 for a value of approximately $41,000. Finally, Moors & Cabot Inc. bought a new position in Rigetti Computing in Q1 worth approximately $75,000. Institutional investors hold 42.96% of the company’s shares.

About Rigetti Computing

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Rigetti Computing, Inc operates as an integrated systems company. The company builds quantum computers and the superconducting quantum processors that power them. Its machines are integrated into various public, private or hybrid clouds via its Quantum Cloud Services platform. The company was founded in 2013 and is based in Berkeley, California.

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