Rigetti Computing Inc (NASDAQ:RGTI) shares traded -0.79% lower at $1.25 on Wall Street last session.
RGTI stock price is now -20.91% away from the 50-day moving average and -15.90% away from the 200-day moving average. The market capitalization of the company currently stands at $197.73M.
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 $1.32 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 $1.1 million. A total of 30.34% 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 $1.5806 and a two-hundred day moving average price translates $1.4876 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 -$0.09, beating analysts’ expectations of -$0.13 by 0.04. 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 $3.24M in revenue.
Rigetti Computing Inc(RGTI) Company Profile
Rigetti Computing, Inc., through its subsidiaries, builds quantum computers and the superconducting quantum processors. The company offers cloud in a form of quantum processing unit, such as 9-qubit chip and Ankaa-2 system under the Novera brand name; and sells access to its quantum computers through quantum computing as a service. It also provides quantum cloud services that provides various range of support in programming, public or private clouds integration, and connectivity, as well as quantum operating system software that supports both public and private cloud architectures. In addition, the company offers professional services, such as algorithm development, benchmarking, quantum application programming, and software development. The company serves commercial enterprises, government organizations, and international government entities. It has operations in the United States and the United Kingdom. Rigetti Computing, Inc. was founded in 2013 and is headquartered in Berkeley, California.
