The price of Rigetti Computing Inc. (NASDAQ:RGTI) shares last traded on Wall Street fell -19.40% to $1.87.
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 $2.32, this indicates a potential downside of -56.9 percent. RGTI stock price is now 20.36% away from the 50-day moving average and 74.16% away from the 200-day moving average. The market capitalization of the company currently stands at $241.87M.
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 Aug 01. The stock was sold for $22,880 at an average price of $2.86. Upon completion of the transaction, the Director now directly owns 140,810 shares in the company, valued at $0.26 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Jul 03, Director Fitzgerald Alissa sold 8,000 shares of the business’s stock. A total of $10,240 was realized by selling the stock at an average price of $1.28. This leaves the insider owning 140,810 shares of the company worth $0.26 million. Insiders disposed of 10,221,818 shares of company stock worth roughly $19.11 million over the past 1 year. 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 $150,000. WELLS FARGO & COMPANY/MN invested $33,000 in shares of RGTI during the first quarter. In the first quarter, MITSUBISHI UFJ TRUST & BANKING CORP acquired a new stake in Rigetti Computing Inc. valued at approximately $14,000. SIMPLEX TRADING, LLC acquired a new stake in RGTI for approximately $7,000. FNY INVESTMENT ADVISERS, LLC purchased a new stake in RGTI valued at around $6,000 in the second quarter. In total, there are 104 active investors with 45.80% ownership of the company’s stock.
A candlestick chart of Rigetti Computing Inc. (NASDAQ: RGTI) showed a price of $1.9800 on Tuesday 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 $1.5751 and a two-hundred day moving average price translates $1.0737 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., through its subsidiaries, builds quantum computers and the superconducting quantum processors. Its quantum computing as a Service platform can be integrated into any public, private, or hybrid cloud. The company offers product types of platform, research, and software tools, which are used in application areas of benchmarking, chemical simulation, education/entertainment, machine learning, and optimization. It has operations in the United States and the United Kingdom. Rigetti Computing, Inc. was founded in 2013 and is based in Berkeley, California.
