Investors Purchase Large Volume of Rigetti Computing Call Options (NASDAQ:RGTI)

Rigetti Computing, Inc. (NASDAQ:RGTI) saw unusually large options trading on Monday. Stock traders bought 4,877 call options on the stock. This represents an increase of 311% compared to the average volume of 1,187 call options.

Insiders Place Their Bets

In related news, Director Helene Gail Sandford sold 43,200 shares of Rigetti Computing stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $0.82, for a total value of $35,424.00. Following the completion of 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 2.81% of the stock is currently owned by company insiders.

Institutional Trading of Rigetti Computing

Several large investors have recently bought and sold shares of the stock. SG Americas Securities LLC purchased a new position in shares of Rigetti Computing in the second quarter worth about $25,000. Comprehensive Financial Consultants Institutional Inc. purchased a new stake in shares of Rigetti Computing in the 2nd quarter valued at $27,000. Cetera Advisors LLC purchased a new stake in shares of Rigetti Computing in the 1st quarter valued at $38,000. PEAK6 Investments LLC acquired a new stake in shares of Rigetti Computing in the first quarter worth $40,000. Finally, Caprock Group LLC purchased a new position in shares of Rigetti Computing during the second quarter worth $42,000. Hedge funds and other institutional investors own 35.38% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. B. Riley began coverage on Rigetti Computing in a research report on Thursday, July 25th. They set a “buy” rating and a $3.00 target price on the stock. Needham & Company LLC dropped 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.

Rigetti Computing Stock Down 0.7 %

Shares of RGTI traded down $0.01 during midday trading on Tuesday, hitting $1.49. 15,433,686 shares of the company’s stock traded hands, compared to its average volume of 5,255,734. Rigetti Computing has a 1 year low of $0.66 and a 1 year high of $2.36. The firm’s fifty day moving average is $0.88 and its 200-day moving average is $1.00. 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 stock has a market capitalization of $284.95 million, a price-to-earnings ratio of -3.19 and a beta of 2.28.

Rigetti Computing (NASDAQ:RGTI) last released its quarterly earnings results on Thursday, August 8th. The company reported ($0.07) EPS for the quarter, beating analysts’ consensus estimates of ($0.10) by $0.03. Rigetti Computing had a negative return on equity of 54.61% and a negative net margin of 538.72%. The company had revenue of $3.09 million during the quarter, compared to analysts’ expectations of $3.53 million. During the same period last year, the business posted ($0.13) earnings per share. As a group, sell-side analysts anticipate that Rigetti Computing 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.