Rigetti Computing (NASDAQ:RGTI) Given “Buy” Rating at Needham & Company LLC

Needham & Company LLC reissued their buy rating on shares of Rigetti Computing (NASDAQ:RGTI) in a report released on Wednesday,Benzinga reports. Needham & Company LLC currently has a $2.00 price objective on the stock.

Separately, B. Riley initiated coverage on Rigetti Computing in a research report on Thursday, July 25th. They issued a “buy” rating and a $3.00 price target on the stock.

Rigetti Computing Price Performance

Shares of RGTI stock opened at $1.70 on Wednesday. The stock’s 50 day simple moving average is $0.98 and its 200 day simple moving average is $1.02. Rigetti Computing has a twelve month low of $1.13 and a twelve month high of $1.89.

Insiders Place Their Bets

In other Rigetti Computing news, Director Helene Gail Sandford sold 43,200 shares of Rigetti Computing stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $0.82, for a total value of $35,424.00. Following the transaction, the director now directly owns 257,752 shares of the company’s stock, valued at $211,356.64. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, major shareholder Bessemer Venture Partners X. L. sold 1,286,114 shares of Rigetti Computing stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $1.52, for a total transaction of $1,954,893.28. Following the sale, the insider now owns 19,582,218 shares of the company’s stock, valued at approximately $29,764,971.36. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Helene Gail Sandford sold 43,200 shares of Rigetti Computing stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $0.82, for a total value of $35,424.00. Following the sale, the director now directly owns 257,752 shares in the company, valued at $211,356.64. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 2,043,200 shares of company stock valued at $3,075,424 in the last three months.

Institutional Trading of Rigetti Computing

Institutional investors have recently modified their holdings of the company. SG Americas Securities LLC acquired a new stake in shares of Rigetti Computing during the 2nd quarter worth approximately $25,000. Comprehensive Financial Consultants Institutional Inc. acquired a new stake in Rigetti Computing in the 2nd quarter valued at $27,000. Cetera Advisors LLC acquired a new stake in Rigetti Computing in the 1st quarter valued at $38,000. PEAK6 Investments LLC acquired a new stake in Rigetti Computing in the 1st quarter valued at $40,000. Finally, Caprock Group LLC acquired a new stake in Rigetti Computing in the 2nd quarter valued at $42,000.

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.