Brief update of interest to Rigetti Computing, Inc. (NASDAQ:RGTI)
In November, the number of investors shorting Rigetti Computing, Inc. experienced a significant increase from the previous month (NASDAQ: RGTI). There were 1,860,000 shares available for short sale as of November 30. This figure represents an increase of 14.8% from the volume of 1,620,000 shares on the previous trading day. Currently, the days covered rate is calculated at 2.0 days based on an average daily volume of 927,400 shares. This number was arrived at through calculation. Sales of 2.5% of the company’s shares are currently being sold in the short market.
Over the past few months, various hedge funds and institutional investors have been among the most active buyers and sellers of RGTI shares. Penserra Capital Management LLC made a new investment in Rigetti Computing during the first three months of the year. This new position was estimated to be worth about $26,000 in total. During the second quarter, Ohio made an investment with Rigetti Computing totaling approximately $27,000 to acquire a new interest. First Republic Investment Management Inc. made a new investment in Rigetti Computing during the third quarter of the fiscal year. The value of this investment was close to $30,000 at the time of the investment. SG During the second quarter of the year, Americas Securities LLC spent approximately $41,000 to increase its holding of shares in Rigetti Computing by purchasing additional shares. This was done to diversify his portfolio. Oppenheimer & Co., Inc. now owns a total of 25,587 shares of the company, which are currently valued at $48,000 after purchasing an additional 10,587 shares during the most recent quarter. Institutional investors own 42.96 percent of the company’s shares as ownership shares.
Additional information was provided on Wednesday, December 7, revealing that director Chad Rigetti had sold 182,904 shares of the company. On average, each share sold for $1.03, bringing the total amount realized from the sale of the shares to $188,391.12. Following the completion of the acquisition, the director now owns a total of 9,364,232 shares of the company, which are worth approximately $9,645,158.96 today. The sale was disclosed to the general public through a document initially filed with the SEC and later made available online by the SEC. As a result, company insiders have sold 482,364 shares of the company over the past three months, generating a total of $500,522 in proceeds from the transaction.
Some brokerage firms have compiled recent RGTI reports, which are now available on their websites. In a research report distributed on Thursday, November 10, Deutsche Bank Aktiengesellschaft lowered its recommendation for Rigetti Computing shares from a “buy” rating to a “hold” rating. They also lowered their price target for the company from $10.00 to $2.00. Both moves were made. Needham & Company LLC has assigned a “Buy” rating to shares of Rigetti Computing and lowered its price target for the company’s shares to $3.00 from $11.00 in a research report published Nov. it gave the shares a “buy” rating and lowered its recommendation on Rigetti Computing shares from a “buy” rating to a “hold” rating. They also lowered their price target for the company from $10.00 to $2.00. Both moves were made. Needham & Company LLC assigned a “Buy” rating to shares of Rigetti Computing and lowered its price target for the company’s shares from $11.00 to $3.00 in a research report published Nov. 15 that gave shares a “buy” rating. The research team also suggested “buying” the stock in its conclusion. Rigetti Computing previously received a “buy” recommendation from Benchmark, but has since been changed to a “hold” rating in a research note published Nov. 10. Three market observers have given the stock a Buy rating, which compares favorably with the recommendation of two industry professionals to maintain the company’s presence in the portfolio. The average rating for this company is a “Moderate Buy,” and the consensus price target for the stock is currently $4.33. This data originated from research conducted on Bloomberg.com and the results were analyzed.
The NASDAQ RGTI posted a gain of 0.01 points on Thursday, bringing the total value of the index to $1.00. The normal volume of trading activity for this stock is 732,954 shares, so the volume of trading activity that occurred was equal to 2,108,000 shares, which was significantly higher. Over the past year, Rigetti Computing has experienced an all-time high of 11.37 and a low of 0.92. The quick ratio, the current ratio, and the debt-to-equity ratio are all at the same level, which is 10.40, and the debt-to-equity ratio is currently at 0.14. The moving average of the company’s performance in the last 50 days is 1.52 and the moving average in the last 200 days is 3.23.
Rigetti Computing’s (NASDAQ: RGTI) most recent earnings report was made public on Monday, November 21. The company announced that its quarterly earnings per share (EPS) was -0.16, which was -0.06 below the market consensus prediction of -0.10. In addition, the company’s quarterly sales were $2.80 million, which is significantly lower than the industry professional estimate of $3.31 million provided by the company. As a result, Rigetti Computing is expected to end the current fiscal year with earnings of -0.54 cents per share, according to forecasts by analysts who follow financial markets.