Rigetti Computing, Inc. $RGTI Shares Acquired by Jones Financial Companies Lllp

Jones Financial Companies Lllp increased its holdings in shares of Rigetti Computing, Inc. (NASDAQ:RGTI) by 66.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 92,457 shares of the company’s stock after purchasing an additional 36,870 shares during the quarter. Jones Financial Companies Lllp’s holdings in Rigetti Computing were worth $2,883,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Royal Bank of Canada lifted its position in shares of Rigetti Computing by 106.2% during the 1st quarter. Royal Bank of Canada now owns 220,701 shares of the company’s stock worth $1,748,000 after buying an additional 113,644 shares during the last quarter. AQR Capital Management LLC raised its stake in Rigetti Computing by 138.9% during the 1st quarter. AQR Capital Management LLC now owns 81,047 shares of the company’s stock worth $642,000 after acquiring an additional 47,115 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Rigetti Computing by 25.4% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 112,409 shares of the company’s stock worth $890,000 after acquiring an additional 22,770 shares in the last quarter. NewEdge Advisors LLC lifted its position in Rigetti Computing by 197.8% in the first quarter. NewEdge Advisors LLC now owns 25,592 shares of the company’s stock valued at $203,000 after acquiring an additional 16,998 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC acquired a new position in Rigetti Computing in the first quarter valued at $3,115,000. 35.38% of the stock is owned by institutional investors and hedge funds.

Rigetti Computing Trading Up 18.2%

Rigetti Computing stock opened at $17.71 on Friday. Rigetti Computing, Inc. has a twelve month low of $6.86 and a twelve month high of $58.15. The stock has a 50 day moving average of $23.67 and a two-hundred day moving average of $25.69. The stock has a market capitalization of $5.84 billion, a price-to-earnings ratio of -13.62 and a beta of 1.69.

Rigetti Computing (NASDAQ:RGTI) last released its earnings results 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 return on equity of 21.98% and a negative net margin of 4,741.49%.The business had revenue of $1.95 million for the quarter, compared to analyst estimates of $2.17 million. The business’s revenue was down 18.1% on a year-over-year basis. Equities analysts predict that Rigetti Computing, Inc. will post -0.34 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. Royal Bank Of Canada cut Rigetti Computing to a “hold” rating in a research report on Thursday, January 22nd. Wall Street Zen raised Rigetti Computing from a “sell” rating to a “hold” rating in a research report on Saturday, November 15th. Rosenblatt Securities reissued a “buy” rating and issued a $40.00 price objective on shares of Rigetti Computing in a report on Wednesday, January 21st. Wedbush raised their target price on shares of Rigetti Computing from $35.00 to $40.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 21st. Finally, B. Riley Financial upgraded shares of Rigetti Computing from a “neutral” rating to a “buy” rating and set a $35.00 price target for the company in a research report on Thursday, January 22nd. Eight equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $32.60.

Rigetti Computing 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.