Rigetti Computing, Inc. $RGTI Shares Acquired by SBI Securities Co. Ltd.

SBI Securities Co. Ltd. grew its stake in shares of Rigetti Computing, Inc. (NASDAQ:RGTI) by 21.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 236,591 shares of the company’s stock after acquiring an additional 41,432 shares during the quarter. SBI Securities Co. Ltd.’s holdings in Rigetti Computing were worth $7,048,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. IFP Advisors Inc lifted its holdings in shares of Rigetti Computing by 146.1% in the 2nd quarter. IFP Advisors Inc now owns 2,190 shares of the company’s stock valued at $26,000 after buying an additional 1,300 shares during the period. Hantz Financial Services Inc. boosted its holdings in Rigetti Computing by 194.9% during the third quarter. Hantz Financial Services Inc. now owns 1,513 shares of the company’s stock worth $45,000 after buying an additional 1,000 shares in the last quarter. Hollencrest Capital Management grew its position in Rigetti Computing by 458.3% during the second quarter. Hollencrest Capital Management now owns 4,020 shares of the company’s stock valued at $48,000 after buying an additional 3,300 shares during the period. Guerra Advisors Inc purchased a new position in Rigetti Computing in the third quarter valued at $52,000. Finally, PNC Financial Services Group Inc. raised its position in shares of Rigetti Computing by 80.8% in the second quarter. PNC Financial Services Group Inc. now owns 4,604 shares of the company’s stock worth $55,000 after acquiring an additional 2,057 shares during the period. Hedge funds and other institutional investors own 35.38% of the company’s stock.

Rigetti Computing Stock Performance

Shares of NASDAQ RGTI opened at $17.19 on Thursday. The firm has a market capitalization of $5.67 billion, a PE ratio of -13.22 and a beta of 1.69. Rigetti Computing, Inc. has a fifty-two week low of $6.86 and a fifty-two week high of $58.15. The stock’s 50-day simple moving average is $24.04 and its 200-day simple moving average is $25.68.

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

Analysts Set New Price Targets

Several equities analysts recently weighed in on RGTI shares. Weiss Ratings restated a “sell (d-)” rating on shares of Rigetti Computing in a research note on Monday, December 29th. Rosenblatt Securities reiterated a “buy” rating and issued a $40.00 target price on shares of Rigetti Computing in a research report on Wednesday, January 21st. Jefferies Financial Group started coverage on Rigetti Computing in a research note on Tuesday, December 16th. They issued a “hold” rating and a $30.00 price target on the stock. Mizuho started coverage on shares of Rigetti Computing in a research report on Thursday, December 11th. They issued an “outperform” rating and a $50.00 target price for the company. Finally, Wedbush increased their price target on Rigetti Computing from $35.00 to $40.00 and gave the company an “outperform” rating in a report on Wednesday, January 21st. Eight research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $32.60.

About Rigetti Computing

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.