Rigetti Computing (NASDAQ:RGTI – Get Rating) will be posting its quarterly earnings results after the market closes on Monday, November 14th. Analysts expect Rigetti Computing to post earnings of -0.10 per share for the quarter. Individual that are interested in registering for the company’s earnings conference call can do so using this link.
Rigetti Computing (NASDAQ:RGTI – Get Rating) last announced its quarterly earnings results on Thursday, August 11th. The company reported -0.09 earnings per share (EPS) for the quarter, missing the consensus estimate of -0.06 by -0.03. The business had revenue of 2.13 million during the quarter. On average, analysts expect Rigetti Computing to post $0 EPS for the current fiscal year and $0 EPS for the next fiscal year.
Rigetti Computing Stock Performance
RGTI opened at 1.79 on Monday. Rigetti Computing has a fifty-two week low of 1.60 and a fifty-two week high of 12.75. The company has a debt-to-equity ratio of 0.14, a current ratio of 17.06 and a quick ratio of 17.06. The stock has a fifty day moving average of 2.24 and a 200-day moving average of 4.39.
Insider Transactions at Rigetti Computing
In other news, General Counsel Richard Danis sold 6,392 shares of the business’s stock in a transaction dated Monday, August 29th. The stock was sold at an average price of 4.01, for a total transaction of 25,631.92. Following the sale, the general counsel now directly owns 495,480 shares in the company, valued at 1,986,874.80. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, General Counsel Richard Danis sold 6,392 shares of Rigetti Computing stock in a transaction that occurred on Monday, August 29th. The stock was sold at an average price of 4.01, for a total value of 25,631.92. Following the transaction, the general counsel now directly owns 495,480 shares of the company’s stock, valued at 1,986,874.80. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Brian J. Sereda sold 17,607 shares of Rigetti Computing stock in a transaction that occurred on Monday, August 22nd. The stock was sold at an average price of 4.65, for a total value of 81,872.55. Following the completion of the transaction, the chief financial officer now directly owns 1,178,367 shares in the company, valued at 5,479,406.55. The disclosure for this sale can be found here. Over the last three months, insiders have sold 528,309 shares of company stock worth $2,171,704.
Hedge Funds Weigh In On Rigetti Computing
Several institutional investors have recently added to or reduced their stakes in the business. Penserra Capital Management LLC acquired a new position in Rigetti Computing in the first quarter valued at approximately $26,000. Moors & Cabot Inc. acquired a new position in Rigetti Computing in the first quarter valued at approximately $75,000. Ergoteles LLC acquired a new position in Rigetti Computing in the first quarter valued at approximately $80,000. American International Group Inc. acquired a new position in Rigetti Computing in the second quarter valued at approximately $55,000. Finally, Bank of America Corp DE acquired a new position in Rigetti Computing in the first quarter valued at approximately $179,000. 42.96% of the stock is owned by institutional investors and hedge funds.
Analysts Set New Price Targets
A number of research firms recently commented on RGTI. Deutsche Bank Aktiengesellschaft began coverage on Rigetti Computing in a research note on Tuesday, August 9th. They issued a “buy” rating and a $10.00 price target for the company. Benchmark decreased their target price on Rigetti Computing from $10.00 to $8.00 and set a “buy” rating on the stock in a research report on Monday, September 19th. Five research analysts have rated the stock with a buy rating, based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of 9.67.
About Rigetti Computing
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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