Rigetti Computing Inc. (NASDAQ:RGTI) shares traded 3.49% higher at $0.80 on Wall Street last session.
In accordance with the data, 3 analysts cover Rigetti Computing Inc. (NASDAQ:RGTI). The consensus rating among analysts is ‘Overweight’. As we calculate the median target price by taking the range between a high of $1.00 and a low of $1.00, we find $1.00. Given the previous closing price of $0.77, this indicates a potential upside of 29.87 percent. RGTI stock price is now 49.37% away from the 50-day moving average and -44.12% away from the 200-day moving average. The market capitalization of the company currently stands at $118.21M.
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It has been rated a hold by 1 analysts and a buy by 2. Brokers who have rated the stock have averaged $1.00 as their price target over the next twelve months.
In other news, Danis Richard, General Counsel & Corp. Sec. sold 22,919 shares of the company’s stock on May 17. The stock was sold for $11,689 at an average price of $0.51. Upon completion of the transaction, the General Counsel & Corp. Sec. now directly owns 1,176,316 shares in the company, valued at $0.94 million. An SEC document containing details of the transaction can be found on the SEC’s website. On May 17, Chief Technology Officer Rivas David sold 4,233 shares of the business’s stock. A total of $2,159 was realized by selling the stock at an average price of $0.51. This leaves the insider owning 905,103 shares of the company worth $0.72 million. A total of 10.60% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in RGTI stock. A new stake in Rigetti Computing Inc. shares was purchased by CIBC PRIVATE WEALTH GROUP, LLC during the first quarter worth $64,000. ALLSPRING GLOBAL INVESTMENTS HOLDINGS, LLC invested $18,000 in shares of RGTI during the first quarter. In the first quarter, WELLS FARGO & COMPANY/MN acquired a new stake in Rigetti Computing Inc. valued at approximately $14,000. CARSONALLARIA WEALTH MANAGEMENT, LTD. acquired a new stake in RGTI for approximately $1,000. In total, there are 117 active investors with 45.80% ownership of the company’s stock.
Rigetti Computing Inc. (NASDAQ: RGTI) opened at $0.8746 on Thursday. During the past 12 months, Rigetti Computing Inc. has had a low of $0.36 and a high of $9.25. The fifty day moving average price for RGTI is $0.5388 and a two-hundred day moving average price translates $1.4086 for the stock.
The latest earnings results from Rigetti Computing Inc. (NASDAQ: RGTI) was released for Mar, 2023. According to the Computer Hardware Company, earnings per share came in at -$0.19, missing analysts’ expectations of -$0.15 by -0.04. This compares to -$0.33 EPS in the same period last year. The company reported revenue of $2.2 million for the quarter, compared to $2.1 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 4.61 percent. For the current quarter, analysts expect RGTI to generate $2.75M in revenue.
Rigetti Computing Inc.(RGTI) Company Profile
Rigetti Computing, Inc. operates as an integrated systems company. The company builds quantum computers and the superconducting quantum processors that power them. Its machines are integrated into various public, private, or hybrid clouds through its Quantum Cloud Services platform. Rigetti Computing, Inc. was founded in 2013 and is based in Berkeley, California.
