Rigetti Computing Director Sells $628,750 in Stock

On December 9th, Michael S. Clifton, a director at Rigetti Computing, Inc. (NASDAQ:RGTI - Get Free Report), sold 125,000 shares of the company's stock. The shares were sold at an average price of $5.03, leading to a total transaction value of $628,750. Following this sale, Clifton now holds 1,063,864 shares in Rigetti, which are valued at approximately $5,351,235.92. This transaction reflects a 10.51% reduction in his ownership.

Rigetti Computing Stock Performance

On the same day as the sale, Rigetti Computing stock saw an increase of $0.09, reaching a trading price of $4.47. During trading, 131,510,484 shares changed hands, significantly higher than the average volume of 68,300,328 shares. The stock trades with a 50-day simple moving average of $1.53 and a 200-day moving average of $1.15. With a market capitalization of $859.58 million, the stock has a P/E ratio of -11.53 and a beta of 2.71. Over the past year, Rigetti's stock price reached a low of $1.13 and a high of $5.09. Financial indicators show a current ratio and quick ratio of 4.84, alongside a low debt-to-equity ratio of 0.02.

Analyst Ratings and Price Targets

Recent evaluations of Rigetti Computing by analysts have shown a positive outlook. On November 25th, B. Riley raised their target price from $3.50 to $4.00 and maintained a "buy" rating. Benchmark also reaffirmed a "buy" rating with a price target of $2.50 on November 14th, while Needham & Company reiterated a "buy" rating and set a price objective of $2.00 on November 13th.

Institutional Investor Interest

In recent months, several institutional investors have adjusted their positions in Rigetti Computing. SG Americas Securities LLC initiated a new stake valued at around $25,000 in the second quarter, while Comprehensive Financial Consultants Institutional Inc. invested approximately $27,000. Additional investments included $38,000 from Cetera Advisors LLC, $42,000 from Caprock Group LLC, and $45,000 from Arete Wealth Advisors LLC. Currently, institutional investors hold about 35.38% of the company's shares.

About Rigetti Computing

Rigetti Computing, Inc. is a company that develops quantum computers and superconducting quantum processors through its subsidiaries. Their cloud service includes quantum processing units, such as the 9-qubit chip and Ankaa-2 system available under the Novera brand, allowing access to their quantum computers as a service.

Rigetti, Stock, Transaction