B. Riley Wealth Advisors Inc. Purchases New Holdings in Rigetti Computing, Inc. $RGTI

B. Riley Wealth Advisors Inc. acquired a new position in Rigetti Computing, Inc. (NASDAQ:RGTI) during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 24,990 shares of the company’s stock, valued at approximately $744,000.

Other hedge funds have also recently made changes to their positions in the company. Osaic Holdings Inc. grew its stake in shares of Rigetti Computing by 119.2% in the second quarter. Osaic Holdings Inc. now owns 260,307 shares of the company’s stock worth $3,087,000 after acquiring an additional 141,541 shares during the last quarter. Atria Wealth Solutions Inc. bought a new position in Rigetti Computing in the 2nd quarter valued at approximately $392,000. Avior Wealth Management LLC purchased a new stake in Rigetti Computing during the 2nd quarter valued at $121,000. Cavalier Investments LLC bought a new stake in shares of Rigetti Computing in the 2nd quarter worth $589,000. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in shares of Rigetti Computing in the second quarter worth $217,000. 35.38% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently commented on RGTI shares. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Rigetti Computing in a research report on Monday, December 29th. Rosenblatt Securities reiterated a “buy” rating and issued a $40.00 price target on shares of Rigetti Computing in a research note on Wednesday, January 21st. Benchmark lowered their price objective 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. Alliance Global Partners restated a “buy” rating on shares of Rigetti Computing in a report on Tuesday, November 11th. Finally, Wedbush raised their price target on Rigetti Computing from $35.00 to $40.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 21st. Eight analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $32.60.

Rigetti Computing Trading Up 2.5%

NASDAQ RGTI opened at $22.31 on Wednesday. Rigetti Computing, Inc. has a 12 month low of $6.86 and a 12 month high of $58.15. The stock has a market cap of $7.36 billion, a PE ratio of -17.16 and a beta of 1.70. The stock’s 50 day moving average is $24.78 and its 200 day moving average is $25.60.

Rigetti Computing (NASDAQ:RGTI) 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. The business had revenue of $1.95 million during the quarter, compared to analyst estimates of $2.17 million. Rigetti Computing had a negative net margin of 4,741.49% and a negative return on equity of 21.98%. Rigetti Computing’s revenue for the quarter was down 18.1% on a year-over-year basis. On average, analysts forecast that Rigetti Computing, Inc. will post -0.34 EPS for the current fiscal year.

Rigetti Computing Company Profile

Rigetti Computing is a pioneering quantum computing company that designs and manufactures superconducting quantum processors alongside a complementary software stack. Founded in 2013 by CEO Chad Rigetti, the company has developed end-to-end quantum systems—from cryogenic hardware to control electronics—to advance the performance and scalability of quantum machines.

At the core of Rigetti’s offering is its Quantum Cloud Services (QCS) platform, which enables developers and enterprises to access quantum processing units (QPUs) and hybrid quantum-classical workflows via the cloud.