International Assets Investment Management LLC Takes Position in Rigetti Computing, Inc. (NASDAQ:RGTI)

International Assets Investment Management LLC bought a new position in Rigetti Computing, Inc. (NASDAQ:RGTI) during the 1st quarter, Holdings Channel reports. The institutional investor bought 12,500 shares of the company’s stock, valued at approximately $99,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. California State Teachers Retirement System increased its stake in Rigetti Computing by 12.7% during the fourth quarter. California State Teachers Retirement System now owns 11,551 shares of the company’s stock worth $176,000 after acquiring an additional 1,301 shares during the last quarter. Signaturefd LLC purchased a new stake in shares of Rigetti Computing during the 4th quarter worth about $25,000. Legal & General Group Plc increased its position in Rigetti Computing by 14.9% during the 4th quarter. Legal & General Group Plc now owns 14,051 shares of the company’s stock worth $214,000 after purchasing an additional 1,817 shares in the last quarter. EverSource Wealth Advisors LLC purchased a new position in Rigetti Computing in the fourth quarter valued at approximately $28,000. Finally, Tucker Asset Management LLC acquired a new position in Rigetti Computing during the fourth quarter valued at approximately $32,000. Institutional investors and hedge funds own 35.38% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on RGTI shares. Benchmark reissued a “buy” rating and issued a $14.00 price objective on shares of Rigetti Computing in a research report on Thursday, May 15th. Alliance Global Partners restated a “buy” rating on shares of Rigetti Computing in a research note on Thursday, March 6th. Finally, Needham & Company LLC lowered their target price on Rigetti Computing from $17.00 to $15.00 and set a “buy” rating for the company in a research note on Wednesday, May 14th. Five research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $14.00.

Rigetti Computing Trading Down 0.4%

Shares of NASDAQ RGTI opened at $11.07 on Friday. The company has a market capitalization of $3.21 billion, a price-to-earnings ratio of -15.81 and a beta of 1.50. Rigetti Computing, Inc. has a twelve month low of $0.66 and a twelve month high of $21.42. The business has a 50 day simple moving average of $11.15 and a 200-day simple moving average of $10.86.

Rigetti Computing 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.