Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. Rigetti Computing Inc shares valued at $945,604 were sold by Bessemer Venture Partners X L. on Nov 14 ’24. At $1.63 per share, Bessemer Venture Partners X L. sold 580,125 shares. The insider’s holdings dropped to 19,002,093 shares worth approximately $25.65 million following the completion of this transaction.
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Also, Bessemer Venture Partners X L. sold 86,868 shares, netting a total of over 135,514 in proceeds. Following the sale of shares at $1.56 each, the insider now holds 18,915,225 shares.
Before that, McCarthy Cathy L had sold 50,000 shares from its account. In a trade valued at $78,000, the Director traded Rigetti Computing Inc shares for $1.56 each. Upon closing the transaction, the insider’s holdings decreased to 50,000 shares, worth approximately $0.52 million.
As published in their initiating research note from B. Riley Securities on July 25, 2024, Rigetti Computing Inc [RGTI] has been a Buy and the price target has been revised to $3. Analysts at Alliance Global Partners started covering the stock with ‘”a Buy”‘ outlook in a report released in early March. As of August 11, 2023, The Benchmark Company has increased its “Hold” rating to a “Buy” for RGTI. Earlier on November 10, 2022, The Benchmark Company downgraded its rating. Their new recommendation was “a Hold” for RGTI stock which previously was a “a Buy”.
Analyzing RGTI Stock Performance
During the last five days, there has been a drop of approximately -20.59%. Over the course of the year, Rigetti Computing Inc shares have jumped approximately 37.07%. Nevertheless, trading volume fell to 15.66 million shares from 11.74 million shares the previous day.
Support And Resistance Levels for Rigetti Computing Inc (RGTI)
According to the 24-hour chart, there is a support level at 1.2833, which, if violated, would cause prices to drop to 1.2167. In the upper region, resistance lies at 1.4533. The next price resistance is at 1.5567. RSI (Relative Strength Index) is 53.37 on the 14-day chart, showing neutral technical sentiment.
