15,000 Shares in Rigetti Computing, Inc. (NASDAQ:RGTI) Acquired by Lake Street Advisors Group LLC

Lake Street Advisors Group LLC acquired a new position in shares of Rigetti Computing, Inc. (NASDAQ:RGTI) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 15,000 shares of the company’s stock, valued at approximately $229,000.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Spire Wealth Management acquired a new stake in Rigetti Computing during the fourth quarter worth $46,000. Activest Wealth Management acquired a new stake in Rigetti Computing during the fourth quarter worth $52,000. Harel Insurance Investments & Financial Services Ltd. acquired a new stake in Rigetti Computing during the fourth quarter worth $76,000. Masso Torrence Wealth Management Inc. acquired a new stake in Rigetti Computing during the fourth quarter worth $153,000. Finally, Nova R Wealth Inc. acquired a new stake in shares of Rigetti Computing in the fourth quarter valued at $153,000. Hedge funds and other institutional investors own 35.38% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. B. Riley lifted their price objective on Rigetti Computing from $8.50 to $15.00 and gave the company a “buy” rating in a research note on Friday, February 14th. Craig Hallum assumed coverage on Rigetti Computing in a research note on Friday, December 20th. They issued a “buy” rating and a $12.00 price objective for the company. Needham & Company LLC reaffirmed a “buy” rating and issued a $2.00 price objective on shares of Rigetti Computing in a research note on Wednesday, November 13th. Finally, Benchmark lifted their price objective on Rigetti Computing from $2.50 to $14.00 and gave the company a “buy” rating in a research note on Friday, February 21st. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $9.30.

Rigetti Computing Trading Up 5.4 %

RGTI opened at $8.46 on Friday. Rigetti Computing, Inc. has a 12 month low of $0.66 and a 12 month high of $21.42. The stock has a market capitalization of $1.63 billion, a price-to-earnings ratio of -22.26 and a beta of 1.26. The company has a debt-to-equity ratio of 0.02, a current ratio of 4.84 and a quick ratio of 4.84. The business has a fifty day moving average price of $12.43 and a 200 day moving average price of $5.59.

Insider Buying and Selling

In other Rigetti Computing news, Director Michael S. Clifton sold 125,000 shares of Rigetti Computing stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $5.03, for a total transaction of $628,750.00. Following the completion of the sale, the director now directly owns 1,063,864 shares of the company’s stock, valued at $5,351,235.92. The trade was a 10.51 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 2.81% of the stock is currently owned by insiders.

Rigetti Computing Company Profile

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.