Squarepoint Ops LLC Has $2.46 Million Stock Position in Rigetti Computing, Inc. $RGTI

by · The Markets Daily

Squarepoint Ops LLC cut its stake in shares of Rigetti Computing, Inc. (NASDAQ:RGTI – Free Report) by 84.4% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 207,446 shares of the company’s stock after selling 1,119,059 shares during the period. Squarepoint Ops LLC owned 0.06% of Rigetti Computing worth $2,460,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in RGTI. IFP Advisors Inc increased its stake in shares of Rigetti Computing by 146.1% during the second quarter. IFP Advisors Inc now owns 2,190 shares of the company’s stock worth $26,000 after purchasing an additional 1,300 shares during the period. Quarry LP acquired a new position in Rigetti Computing in the 1st quarter valued at $31,000. Armstrong Advisory Group Inc. increased its position in Rigetti Computing by 225.4% during the 2nd quarter. Armstrong Advisory Group Inc. now owns 2,974 shares of the company’s stock worth $35,000 after buying an additional 2,060 shares during the period. Banque Transatlantique SA acquired a new stake in shares of Rigetti Computing during the first quarter worth $42,000. Finally, Hollencrest Capital Management lifted its holdings in shares of Rigetti Computing by 458.3% during the second quarter. Hollencrest Capital Management now owns 4,020 shares of the company’s stock worth $48,000 after buying an additional 3,300 shares in the last quarter. Institutional investors own 35.38% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the stock. Benchmark lowered their price target on shares of Rigetti Computing from $50.00 to $40.00 and set a “buy” rating on the stock in a research report on Tuesday, November 11th. Wall Street Zen raised shares of Rigetti Computing from a “sell” rating to a “hold” rating in a report on Saturday, November 15th. Jefferies Financial Group initiated coverage on Rigetti Computing in a research note on Tuesday. They issued a “hold” rating and a $30.00 price target for the company. Mizuho began coverage on Rigetti Computing in a research report on Thursday, December 11th. They set an “outperform” rating and a $50.00 price target on the stock. Finally, Williams Trading set a $40.00 price objective on Rigetti Computing in a report on Tuesday, November 11th. Seven equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $29.30.

Check Out Our Latest Research Report on RGTI

Rigetti Computing Trading Down 6.2%

Shares of NASDAQ:RGTI opened at $22.47 on Thursday. The firm has a 50 day moving average of $33.31 and a 200-day moving average of $23.03. Rigetti Computing, Inc. has a 12 month low of $5.95 and a 12 month high of $58.15. The stock has a market capitalization of $7.42 billion, a PE ratio of -17.28 and a beta of 1.68.

Rigetti Computing (NASDAQ:RGTI – Get Free Report) last announced its quarterly earnings data on Monday, November 10th. The company reported ($0.03) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.02. Rigetti Computing had a negative net margin of 4,741.49% and a negative return on equity of 21.98%. The business had revenue of $1.95 million for the quarter, compared to analysts’ expectations of $2.17 million. Rigetti Computing’s revenue for the quarter was down 18.1% compared to the same quarter last year. On average, research analysts predict that Rigetti Computing, Inc. will post -0.34 EPS for the current fiscal year.

Insider Activity

In other news, Director Helene Gail Sandford sold 62,000 shares of the business’s stock in a transaction on Friday, October 17th. The stock was sold at an average price of $44.89, for a total transaction of $2,783,180.00. Following the completion of the transaction, the director owned 120,371 shares of the company’s stock, valued at approximately $5,403,454.19. The trade was a 34.00% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.90% of the company’s stock.

Rigetti Computing Company Profile

(Free Report)

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.

Featured Stories