Investors Purchase Large Volume of Rigetti Computing Call Options (NASDAQ:RGTI)

Rigetti Computing, Inc. (NASDAQ:RGTI) was the recipient of some unusual options trading activity on Monday. Traders acquired 4,877 call options on the stock. This represents an increase of approximately 311% compared to the average daily volume of 1,187 call options.

Insider Buying and Selling at Rigetti Computing

In other news, Director Helene Gail Sandford sold 43,200 shares of Rigetti Computing stock in a transaction that occurred on Tuesday, September 17th. The shares were 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 owns 257,752 shares in the company, valued at $211,356.64. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 2.81% of the company’s stock.

Institutional Inflows and Outflows

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

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on RGTI shares. B. Riley started coverage on shares of Rigetti Computing in a research report on Thursday, July 25th. They set a “buy” rating and a $3.00 price target for the company. Needham & Company LLC reduced their price objective on shares of Rigetti Computing from $3.00 to $2.00 and set a “buy” rating on the stock in a research note on Friday, August 9th.

Rigetti Computing Trading Up 24.2 %

Rigetti Computing stock traded up $0.30 during midday trading on Monday, hitting $1.52. 11,214,131 shares of the stock were exchanged, compared to its average volume of 5,185,800. The company has a fifty day simple moving average of $0.87 and a two-hundred day simple moving average of $1.00. Rigetti Computing has a 52 week low of $0.66 and a 52 week high of $2.36. The stock has a market capitalization of $289.84 million, a PE ratio of -2.96 and a beta of 2.28. The company has a quick ratio of 4.29, a current ratio of 4.29 and a debt-to-equity ratio of 0.03.

Rigetti Computing (NASDAQ:RGTI) last announced its quarterly earnings results on Thursday, August 8th. The company reported ($0.07) earnings per share 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 for the quarter, compared to analyst estimates of $3.53 million. During the same quarter in the previous year, the firm posted ($0.13) earnings per share. Equities research analysts anticipate that Rigetti Computing will post -0.34 EPS for the current fiscal 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.