As of Friday close, Rigetti Computing Inc.’s (NASDAQ:RGTI) stock was up $0.01, moving up 0.37 percent to $2.74. The average number of shares traded per day over the past five days has been 13,753,240 shares. 2 times new highs have been achieved over the past 5 days, with a $0.54 gain in that time frame. In the last twenty days, the average volume was 8,764,686, while in the previous 50 days, it was 6,836,536.
Since last month, RGTI stock rose 86.39%. Shares of the company fell to $1.31 on 07/07/23, the lowest level in the past month. A 52-week high of $5.90 was reached on 08/01/23 after having rallying from a 52-week low of $0.36. Since the beginning of this year, RGTI’s stock price has risen by 275.75% or $2.01, and marked a new high 17 times. However, the stock has declined by -53.56% since its 52-week high.
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RGTI stock investors should be aware that Rigetti Computing Inc. (RGTI) stock had its last reported insider trading activity 4 days ago on Aug 01. Fitzgerald Alissa, the Director of the company, disposed of 8,000 shares for $2.86 on Aug 01. It resulted in a $22,880 divestment by the insider. Fitzgerald Alissa sold 8,000 shares at an average price of $1.28 on Jul 03. The insider now owns 140,810 shares following the transaction. On Jun 12, Director Fitzgerald Alissa sold 40,447 shares at $1.41 apiece. The transaction was valued at $57,030.
Valuation Metrics
The stock’s beta is 2.29. Besides these, the trailing price-to-sales (P/S) ratio of 22.54, the price-to-book (PB) ratio of 2.63.
Financial Health
In the three months ended March 30, Rigetti Computing Inc.’s quick ratio stood at 5.70, while its current ratio was 5.70, showing that the company is able to pay off its debt. According to company report, the long-term debt-to-equity ratio for the quarter ending March 30 was 0.14, and the total debt-to-equity ratio was 0.21. On the profitability front, the trailing twelve-month gross margin is 77.50% percent. Based on annual data, RGTI earned $10.23 million in gross profit and brought in $13.1 million in revenue.
According to the earnings report, the company had a lower net income in the recent quarter than it did in the previous quarter. RGTI’s revenue rose 4.55% to $6.06 million during the quarter, while net income inched up to $2.2 million. While analysts expected Rigetti Computing Inc. to report -$0.15 quarterly earnings, the actual figure was -$0.19 per share, beating the consensus estimate by -26.70%. During the quarter, the company generated -$20.05 million in EBITDA. The liabilities of Rigetti Computing Inc. were 52.44 million at the end of its most recent quarter ended March 30, and its total debt was $37.36 million. The value of shareholders’ equity is $129.82 million.
Technical Picture
This quick technical analysis looks at Rigetti Computing Inc.’s (RGTI) price momentum. With a historical volatility rate of 204.82%, the RSI 9-day stood at 62.48% on 04 August.
With respect to its five-day moving average, the current Rigetti Computing Inc. price is up by +24.55% percent or $0.54. At present, RGTI shares trade +100.00% above its 20-day simple moving average and +360.35% percent above its 100-day simple moving average. However, the stock is currently trading approximately +271.27% above its SMA50 and +42.71% above its SMA200.
Stochastic coefficient K was 67.03% and Stochastic coefficient D was 76.39%, while ATR was 0.43. Given the Stochastic reading of 62.70% for the 14-day period, the RSI (14) reading has been calculated as 63.09%. As of today, the MACD Oscillator reading stands at 0.34, while the 14-day reading stands at 0.55.
Analyst Ratings
Rigetti Computing Inc. downgraded its rating on Rigetti Computing Inc. (NASDAQ: RGTI) to a Hold in a note to investors on November 10, 2022. The analysts firm previously had a Buy rating on the stock.Rigetti Computing Inc. (RGTI) has been rated Overweight by analysts. According to 0 brokerage firms, RGTI is a sell, and 1 firms recommend it is a Hold. There are 0 analysts who say the stock is underweight. A total of 0 analysts rate Rigetti Computing Inc. stock as buy, with 2 recommending it as overweight.
With a median target price of $1.00, the current consensus forecast for the stock is $1.00 – $1.00. Based on these forecasts, analysts predict Rigetti Computing Inc. (RGTI) will achieve an average price target of $1.00.
