Short Interest Update for Rigetti Computing, Inc. (NASDAQ:RGTI)

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The number of investors holding short positions in Rigetti Computing, Inc. increased significantly from the prior month in November (NASDAQ: RGTI). As of November 30, 1,860,000 shares were available for a short sale. In comparison to the volume of 1,620,000 shares traded on the previous trading day, this number reflects a 14.8% rise. At this moment, based on an average daily volume of 927,400 shares, the days-to-cover ratio is estimated to be 2.0 days. Calculation was used to arrive at this figure. 2.5% of the company’s shares are now being sold on the short market.

Hedge funds and institutional investors have been among the most active purchasers and sellers of RGTI shares during the last several months. During the first three months of the year, Penserra Capital Management LLC made a new investment in Rigetti Computing. The overall salary for this new employment was expected to be about $26,000. Ohio invested almost $27,000 with Rigetti Computing during the second quarter to purchase a new stake. During the third quarter of the fiscal year, First Republic Stake Management Inc. made a fresh investment in Rigetti Computing. At the time of the investment, the value of this investment was very nearly $30,000. SG Americas Securities LLC increased its holdings in Rigetti Computing shares during the second quarter of the year by acquiring more shares for around $41,000. To diversify its holdings, this was done. Following the acquisition of an additional 10,587 shares during the most recent quarter, Oppenheimer & Co., Inc. now owns 25,587 shares of the company, with a market value of $48,000. 42.96 percent of the company’s shares are owned by institutional investors.
On Wednesday, December 7, new information was made available that showed Director Chad Rigetti had sold 182,904 shares of the company’s stock. The average selling price per share was $1.03, resulting in a total revenue of 188,391.12 dollars from the sale of the shares. Following the acquisition’s conclusion, the director now owns a total of 9,364,232 shares of the business, which are now valued at $9,645,158.96. A document that was originally filed to the SEC and afterwards made accessible online by the SEC served as the public’s first introduction to the transaction. As a consequence, insiders of the business have sold 482,364 shares of its stock over the previous three months, making a total profit of $500,522.

Recent reports on RGTI have been prepared by a few brokerage companies and are now accessible on their websites. Deutsche Bank Aktiengesellschaft changed their recommendation for shares of Rigetti Computing from a “buy” rating to a “hold” rating in a research note released on Thursday, November 10. Additionally, they lowered the company’s target price from $10.00 to $2.00. These two actions were taken. In a research report released on November 15, Needham & Firm LLC dropped their price target for the stock of the company from $11.00 to $3.00 and gave Rigetti Computing shares a “buy” recommendation. chart downgraded their “buy” rating to a “hold” rating on shares of Rigetti Computing. Additionally, they lowered the company’s target price from $10.00 to $2.00. These two actions were taken. In a research report released on November 15 that gave the stock a “buy” rating, Needham & Company LLC assigned a “buy” rating to Rigetti Computing shares and decreased their price target for the company’s stock from $11.00 to $3.00. In its conclusion, the research team also recommended “purchasing” the stock. Benchmark had previously recommended Rigetti Computing as a “buy,” but in a research note released on November 10, that recommendation has been revised to a “hold.” Three market observers have given the stock a buy rating, which contrasts positively with the advice of two business experts to keep the firm in one’s portfolio. The stock now has a consensus target price of $4.33, and the average recommendation for this firm is “Moderate Buy.” This information was gathered via research on Bloomberg.com, and the findings were examined.

On Thursday, the NASDAQ RGTI gained 0.01 points, bringing the index’s total value to $1.00. The trading volume that took place was 2,108,000 shares, which was much greater than the typical level of trading activity for this stock of 732,954 shares. Rigetti Computing saw a record high of 11.37 during the previous year and a record low of 0.92. The debt-to-equity ratio is now at 0.14, while the quick ratio, current ratio, and debt-to-equity ratio are all at the same value of 10.40. The company’s performance during the last 50 days has a moving average of 1.52, and over the previous 200 days, it has a moving average of 3.23.
On November 21, a Monday, Rigetti Computing (NASDAQ: RGTI) released its most recent results report. The firm said that its quarterly earnings per share (EPS) were negative 0.16, which was negative 0.06 from the market consensus’s forecast of negative 0.10. Additionally, the business’s quarterly revenues were $2.80 million, which is far less than the $3.31 million forecast of industry experts that the company offered. Analysts who track the financial markets predict that as a consequence, Rigetti Computing will end the current fiscal year with profits of -0.54 cents per share.

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