In yesterday’s Wall Street session, Rigetti Computing Inc. (NASDAQ:RGTI) shares traded at $2.67, up 17.11% from the previous session.
3 analysts cover Rigetti Computing Inc. (NASDAQ:RGTI), according to research data. The consensus rating among analysts is ‘Buy’. As we calculate the median target price by taking the range between a high of $4.00 and a low of $3.00, we find $3.50. Given the previous closing price of $2.28, this indicates a potential upside of 53.51 percent. RGTI stock price is now 64.23% away from the 50-day moving average and 149.31% away from the 200-day moving average. The market capitalization of the company currently stands at $249.32M.
The stock has received a hold rating from 0 analysts and a buy rating from 3. Brokers who have rated the stock have averaged $3.50 as their price target over the next twelve months.
With the price target maintained at $4, The Benchmark Company recently Upgraded its rating from Hold to Buy for Rigetti Computing Inc. (NASDAQ: RGTI).
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 $0.38 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 $0.38 million. Insiders disposed of 10,221,818 shares of company stock worth roughly $27.29 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 MILLENNIUM MANAGEMENT LLC during the first quarter worth $2,728,000. MYDA ADVISORS LLC invested $534,000 in shares of RGTI during the first quarter. In the first quarter, QUBE RESEARCH & TECHNOLOGIES LTD acquired a new stake in Rigetti Computing Inc. valued at approximately $293,000. Y-INTERCEPT (HONG KONG) LTD acquired a new stake in RGTI for approximately $272,000. OLD MISSION CAPITAL, LLC purchased a new stake in RGTI valued at around $181,000 in the second quarter. In total, there are 104 active investors with 45.80% ownership of the company’s stock.
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 $1.6601 and a two-hundred day moving average price translates $1.0730 for the stock.
The latest earnings results from Rigetti Computing Inc. (NASDAQ: RGTI) was released for Jun, 2023. According to the Computer Hardware Company, earnings per share came in at -$0.13, beating analysts’ expectations of -$0.17 by 0.04. This compares to -$0.11 EPS in the same period last year. The company reported revenue of $3.33 million for the quarter, compared to $2.13 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 55.9 percent. For the current quarter, analysts expect RGTI to generate $3.4M in revenue.
