In yesterday’s Wall Street session, Rigetti Computing Inc (NASDAQ:RGTI) shares traded at $1.75, down -13.79% from the previous session.
RGTI stock price is now 21.30% away from the 50-day moving average and 20.27% away from the 200-day moving average. The market capitalization of the company currently stands at $278.04M.
With the price target of $3.50, Alliance Global Partners recently initiated with Buy rating for Rigetti Computing Inc (NASDAQ: RGTI). On August 11, 2023, The Benchmark Company Upgraded its previous ‘Hold’ rating to ‘Buy’ on the stock keeping its target price maintained at $4, while ‘Deutsche Bank’ rates the stock as ‘Hold’
In other news, Danis Richard, GENERAL COUNSEL & CORP. SEC. sold 46,326 shares of the company’s stock on Mar 18 ’24. The stock was sold for $91,262 at an average price of $1.97. Upon completion of the transaction, the GENERAL COUNSEL & CORP. SEC. now directly owns 1,052,141 shares in the company, valued at $1.84 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Mar 18 ’24, CHIEF TECHNOLOGY OFFICER Rivas David sold 9,273 shares of the business’s stock. A total of $18,268 was realized by selling the stock at an average price of $1.97. This leaves the insider owning 880,440 shares of the company worth $1.54 million. A total of 32.08% of the company’s stock is owned by insiders.
During the past 12 months, Rigetti Computing Inc has had a low of $0.36 and a high of $3.43. As of last week, the company has a debt-to-equity ratio of 0.28, a current ratio of 3.71, and a quick ratio of 3.71. The fifty day moving average price for RGTI is $1.4427 and a two-hundred day moving average price translates $1.4550 for the stock.
The latest earnings results from Rigetti Computing Inc (NASDAQ: RGTI) was released for Dec, 2023. According to the Computer Hardware Company, earnings per share came in at -$0.17, missing analysts’ expectations of -$0.12 by -0.05. This compares to -$0.11 EPS in the same period last year. The net profit margin was -625.42% and return on equity was -57.82% for RGTI. The company reported revenue of $3.38 million for the quarter, compared to $6.06 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue fell -44.31 percent. For the current quarter, analysts expect RGTI to generate $3.38M in revenue.
