Rigetti Computing (NASDAQ:RGTI) Research Coverage Started at Deutsche Bank Aktiengesellschaft

Analysts at Deutsche Bank Aktiengesellschaft started coverage on shares of Rigetti Computing (NASDAQ:RGTI – Get Rating) In a research note issued on Tuesday, The Fly reports. The firm set a “buy” rating and a $10.00 price target on the stock.

Several other analysts have also weighed in on the stock. Needham & Company LLC assumed coverage on shares of Rigetti Computing in a research report on Tuesday, June 7th. They set a “buy” rating and a $11.00 target price on the stock. Benchmark reduced their price target on shares of Rigetti Computing from $16.00 to $12.00 and set a “buy” rating on the stock in a research report on Friday, June 10th. Cowen assumed coverage on shares of Rigetti Computing in a research report on Friday, May 27th. They issued an “outperform” rating on the stock. Finally, Cowen assumed coverage on shares of Rigetti Computing in a research report on Friday, May 27th. They issued an “outperform” rating on the stock. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of 11.00.

Rigetti Computing Trading Up 2.2 %

Shares of Rigetti Computing stock opened at 4.55 on Tuesday. The company has a current ratio of 18.60, a quick ratio of 18.60 and a debt-to-equity ratio of 0.17. The company’s 50-day simple moving average is 4.88. Rigetti Computing has a twelve month low of 3.25 and a twelve month high of 12.75.

Rigetti Computing (NASDAQ:RGTI – Get Rating) last issued its earnings results on Monday, May 16th. The company reported -0.41 earnings per share for the quarter. The firm had revenue of 2.10 million for the quarter. On average, equities analysts forecast that Rigetti Computing will post -0.43 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Rigetti Computing news, General Counsel Richard Danis sold 5,718 shares of the business’s stock in a transaction dated Tuesday, June 14th. The shares were sold at an average price of 4.43, for a total value of 25,330.74. Following the completion of the transaction, the general counsel now directly owns 547,699 shares of the company’s stock, valued at 2,426,306.57. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, General Counsel Richard Danis sold 5,718 shares of the business’s stock in a transaction that occurred on Tuesday, June 14th. The shares were sold at an average price of 4.43, for a total transaction of 25,330.74. Following the completion of the sale, the general counsel now directly owns 547,699 shares of the company’s stock, valued at 2,426,306.57. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Chad Rigetti sold 132,224 shares of Rigetti Computing stock in a transaction dated Tuesday, June 14th. The stock was sold at an average price of 4.43, for a total value of 585,752.32. Following the transaction, the chief executive officer now owns 10,469,084 shares in the company, valued at 46,378,042.12. The disclosure for this sale can be found here. Over the last three months, insiders sold 204,204 shares of company stock valued at $912,021.

Institutional Trading of Rigetti Computing

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Penserra Capital Management LLC acquired a new position in Rigetti Computing during the first quarter worth approximately $26,000. Strs Ohio bought a new stake in shares of Rigetti Computing in the second quarter valued at approximately $27,000. SG Americas Securities LLC bought a new stake in shares of Rigetti Computing in the second quarter valued at approximately $41,000. Oppenheimer & Co. Inc. acquired a new stake in shares of Rigetti Computing in the 2nd quarter valued at $55,000. Finally, Allen Operations LLC acquired a new stake in Rigetti Computing in the first quarter valued at about $68,000. Institutional investors and hedge funds own 64.75% of the company’s stock.

Rigetti Computing Company Profile

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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 through its Quantum Cloud Services platform. The company was founded in 2013 and is based in Berkeley, California.

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