American Assets Investment Manage has recently announced that it has increased stake in Rigetti Computing Inc (NASDAQ:RGTI) by 1,657.83%. After grabbing 8.79 million shares, the institutional investor is now in possession of 8.29 million shares of the Technology Company. The new investment brought the stake of investor firm to 6.25% having worth around $9.32 million. Moreover, The Vanguard Group, Inc. increased its share by 69561.0 to have a control over 4.19 million shares. And Millennium Management LLC raised its holdings to 2.74 million shares by acquiring 3.76 million shares or 2.68% of the stake.
Rigetti Computing Inc (RGTI) concluded trading on 12/21/23 at a closing price of $1.02, with 1.9 million shares of worth about $1.94 million changed hands on the day. Half year performance of the stock remained positive as price took a surge of 11.72% during that period and on Thursday the price remained unchanged. Currently the company’s common shares owned by public are about 125.26M shares, out of which, 95.77M shares are available for trading.
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According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 29 times over the past 12 months. They bought 1,663,650 shares in 13 of the transactions. In 16 selling transactions, insiders dumped 456,355 shares.
Vanguard Total Stock Market ETF, Defiance Quantum ETF, and Vanguard Extended Market Index Fu are the top 3 mutual funds which are holding stakes in Rigetti Computing Inc Vanguard Total Stock Market ETF is currently holding 2.95 million shares of worth totaling $3.12 million. The company recently came buying 0.0 shares which brought its stake up to 2.10% of the company’s outstanding shares. Vanguard Extended Market Index Fu, after buying 1.22 million shares, have now control over 0.87% of the stake in the company. It holds 83712.0 shares of worth $1.29 million.
Rigetti Computing Inc (NASDAQ: RGTI) started trading at $1.03, above $0.01 from concluding price of the previous day. Stock saw a price change of 0.99% in past 5 days and over the past one month there was a price change of 0.00%. Year-to-date (YTD), RGTI shares are showing a performance of 39.88% which increased to 29.77% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $0.36 but also hit the highest price of $3.43 during that period. The average intraday trading volume for Rigetti Computing Inc shares is 2.52 million. The stock is currently trading -3.67% below its 20-day simple moving average (SMA20), while that difference is down -9.70% for SMA50 and it goes to -16.26% lower than SMA200.
American Assets Investment Manage acquired 8.79 million shares of Rigetti Computing Inc having value of about $9.32 million. Data submitted at the U.S SEC by American Assets Investment Manage revealed that the firm now holds 8.29 million shares in the company valued at close to $8454952.38, or have control over 1,657.83% stake in the company. Rigetti Computing Inc (NASDAQ: RGTI) currently have 125.26M outstanding shares and institutions hold larger chunk of about 18.98% of that. Holding of mutual funds in the company is about 25.78% while other institutional holders and individual stake holders have control over 5.95% and 13.62% of the stake respectively.
The stock has a current market capitalization of $147.91M and its 3Y-monthly beta is at 2.30. It has posted earnings per share of -$0.67 in the same period. It has Quick Ratio of 5.06 while making debt-to-equity ratio of 0.30. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for RGTI, volatility over the week remained 7.93% while standing at 8.65% over the month.
Analysts are in expectations that Rigetti Computing Inc (RGTI) stock would likely to be making an EPS of -$0.13 in the current quarter, while forecast for next quarter EPS is -$0.13 and it is -$0.45 for next year. For the current quarter EPS, analysts have given the company a lowest target -$0.13 which is -$0.13 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of -$0.14 in the same quarter a year ago. Stock’s fiscal year EPS is expected to rise by 39.05% while it is estimated to increase by 18.75% in next year.
Analysts at 3 brokerage firms have issued recommendations for the Rigetti Computing Inc (RGTI)’s stock and average of those rates the stock at a “Strong Buy” and assign it a score of 1.00. Out of those 3 Wall Street analysts, 3 recommended a “Buy” rating, while 0 were in favor recommending the stock as a “Hold” and 0 analyst recommended the stock as “Sell”.
Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by The Benchmark Company on August 11, 2023 offering a Buy rating for the stock and assigned a target price of $4 to it.
