Kellett Wealth Advisors LLC Acquires Shares of 15,033 Rigetti Computing, Inc. (NASDAQ:RGTI)

Kellett Wealth Advisors LLC bought a new position in Rigetti Computing, Inc. (NASDAQ:RGTI) during the fourth quarter, Holdings Channel.com reports. The firm bought 15,033 shares of the company’s stock, valued at approximately $229,000.

Other institutional investors also recently modified their holdings of the company. Arete Wealth Advisors LLC bought a new stake in Rigetti Computing in the third quarter worth about $45,000. Spire Wealth Management purchased a new stake in shares of Rigetti Computing during the 4th quarter worth approximately $46,000. SG Americas Securities LLC raised its holdings in shares of Rigetti Computing by 166.9% in the 3rd quarter. SG Americas Securities LLC now owns 63,202 shares of the company’s stock worth $49,000 after purchasing an additional 39,526 shares during the period. JPMorgan Chase & Co. lifted its stake in Rigetti Computing by 3.4% in the third quarter. JPMorgan Chase & Co. now owns 62,360 shares of the company’s stock valued at $49,000 after purchasing an additional 2,045 shares during the last quarter. Finally, Activest Wealth Management bought a new position in Rigetti Computing during the fourth quarter valued at $52,000. 35.38% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. Craig Hallum started coverage on Rigetti Computing in a research note on Friday, December 20th. They issued a “buy” rating and a $12.00 target price on the stock. B. Riley boosted 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. Needham & Company LLC reiterated a “buy” rating and issued a $2.00 target price on shares of Rigetti Computing in a research note on Wednesday, November 13th. Finally, Benchmark upped their price target on shares of 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, According to MarketBeat.com, the company has an average rating of “Buy” and an average target price of $9.30.

Rigetti Computing Stock Down 10.8 %

Shares of NASDAQ RGTI opened at $9.03 on Wednesday. The company has a quick ratio of 4.84, a current ratio of 4.84 and a debt-to-equity ratio of 0.02. The company has a market cap of $1.74 billion, a P/E ratio of -23.76 and a beta of 1.26. Rigetti Computing, Inc. has a 52 week low of $0.66 and a 52 week high of $21.42. The business has a 50-day simple moving average of $12.47 and a two-hundred day simple moving average of $5.49.

Insider Transactions at Rigetti Computing

In related news, Director Michael S. Clifton sold 125,000 shares of the company’s stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $5.03, for a total transaction of $628,750.00. Following the sale, the director now owns 1,063,864 shares of the company’s stock, valued at approximately $5,351,235.92. This represents a 10.51 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 2.81% of the company’s stock.

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.