Comprehensive Financial Consultants Institutional Inc. Buys New Position in Rigetti Computing, Inc. (NASDAQ:RGTI)

Comprehensive Financial Consultants Institutional Inc. bought a new stake in shares of Rigetti Computing, Inc. (NASDAQ:RGTI) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 25,000 shares of the company’s stock, valued at approximately $27,000.

Several other hedge funds also recently added to or reduced their stakes in RGTI. SG Americas Securities LLC purchased a new stake in Rigetti Computing during the 2nd quarter valued at about $25,000. Cetera Advisors LLC purchased a new position in Rigetti Computing during the first quarter worth approximately $38,000. PEAK6 Investments LLC purchased a new position in shares of Rigetti Computing in the first quarter valued at approximately $40,000. Chesapeake Capital Corp IL purchased a new position in shares of Rigetti Computing in the fourth quarter valued at approximately $47,000. Finally, Brighton Jones LLC lifted its position in shares of Rigetti Computing by 100.0% in the fourth quarter. Brighton Jones LLC now owns 123,532 shares of the company’s stock valued at $122,000 after acquiring an additional 61,766 shares in the last quarter. 35.38% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on RGTI shares. Needham & Company LLC reduced their price objective on Rigetti Computing from $3.00 to $2.00 and set a “buy” rating on the stock in a research report on Friday, August 9th. B. Riley initiated coverage on Rigetti Computing in a research note on Thursday, July 25th. They issued a “buy” rating and a $3.00 price objective for the company. Finally, Benchmark reaffirmed a “buy” rating and issued a $3.00 price objective on shares of Rigetti Computing in a research note on Monday, May 13th.

Rigetti Computing Stock Up 2.2 %

RGTI traded up $0.02 on Friday, hitting $0.90. 2,525,687 shares of the company were exchanged, compared to its average volume of 5,599,291. Rigetti Computing, Inc. has a twelve month low of $0.75 and a twelve month high of $2.36. The company has a market cap of $155.55 million, a price-to-earnings ratio of -1.67 and a beta of 2.32. The company has a current ratio of 4.29, a quick ratio of 4.29 and a debt-to-equity ratio of 0.03. The firm has a 50-day moving average price of $0.99 and a two-hundred day moving average price of $1.26.

Rigetti Computing (NASDAQ:RGTI) last announced its quarterly earnings results on Thursday, August 8th. The company reported ($0.07) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.10) by $0.03. The company had revenue of $3.09 million during the quarter, compared to the consensus estimate of $3.53 million. Rigetti Computing had a negative return on equity of 54.61% and a negative net margin of 538.72%. During the same period in the previous year, the business earned ($0.13) EPS. On average, equities analysts predict that Rigetti Computing, Inc. will post -0.34 earnings per share for the current year.

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.