The price of Rigetti Computing Inc. (NASDAQ:RGTI) shares last traded on Wall Street fell -7.55% to $1.47.
Based on available information, 3 analysts follow 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 $1.59, this indicates a potential downside of -37.11 percent. RGTI stock price is now 76.63% away from the 50-day moving average and 39.27% away from the 200-day moving average. The market capitalization of the company currently stands at $204.02M.
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Among analysts, 1 rate the stock a hold while 2 rate it a buy. Brokers who have rated the stock have averaged $1.00 as their price target over the next twelve months.
In other news, Fitzgerald Alissa, Director sold 8,000 shares of the company’s stock on Jul 03. The stock was sold for $10,240 at an average price of $1.28. Upon completion of the transaction, the Director now directly owns 140,810 shares in the company, valued at $0.21 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Jun 12, Director Fitzgerald Alissa sold 40,447 shares of the business’s stock. A total of $57,030 was realized by selling the stock at an average price of $1.41. This leaves the insider owning 26,989 shares of the company worth $39673.83. 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 $118,000. ALLSPRING GLOBAL INVESTMENTS HOLDINGS, LLC invested $32,000 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 $26,000. CARSONALLARIA WEALTH MANAGEMENT, LTD. acquired a new stake in RGTI for approximately $2,000. In total, there are 117 active investors with 45.80% ownership of the company’s stock.
A candlestick chart of Rigetti Computing Inc. (NASDAQ: RGTI) showed a price of $1.5800 on Thursday morning. During the past 12 months, Rigetti Computing Inc. has had a low of $0.36 and a high of $5.90. As of last week, the company has a debt-to-equity ratio of 0.21, a current ratio of 5.70, and a quick ratio of 5.70. The fifty day moving average price for RGTI is $0.8521 and a two-hundred day moving average price translates $1.0514 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.
