As of Thursday close, Rigetti Computing Inc.’s (NASDAQ:RGTI) stock was up $0.04, moving up 2.27 percent to $1.80. The average number of shares traded per day over the past five days has been 4,655,480 shares. 3 times new highs have been achieved over the past 5 days, with a -$0.0100 fall in that time frame. In the last twenty days, the average volume was 11,935,141, while in the previous 50 days, it was 9,413,040.
Since last month, RGTI stock retreated -39.80%. Shares of the company fell to $1.5901 on 08/10/23, the lowest level in the past month. A 52-week high of $4.44 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 146.85% or $1.0708, and marked a new high 17 times. However, the stock has declined by -59.46% since its 52-week high.
RGTI stock investors should be aware that Rigetti Computing Inc. (RGTI) stock had its last reported insider trading activity 15 days ago on Aug 17. Danis Richard, the General Counsel & Corp. Sec. of the company, disposed of 40,084 shares for $1.91 on Aug 17. It resulted in a $76,560 divestment by the insider. Rivas David sold 7,896 shares at an average price of $1.91 on Aug 17. The insider now owns 897,207 shares following the transaction. On Aug 15, Director McCarthy Cathy L sold 185,000 shares at $2.44 apiece. The transaction was valued at $451,400.
Valuation Metrics
The stock’s beta is 2.41. Besides these, the trailing price-to-sales (P/S) ratio of 17.29, the price-to-book (PB) ratio of 1.96.
Financial Health
In the three months ended June 29, Rigetti Computing Inc.’s quick ratio stood at 5.50, while its current ratio was 5.50, 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 June 29 was 0.14, and the total debt-to-equity ratio was 0.23. On the profitability front, the trailing twelve-month gross margin is 81.30% percent. Based on annual data, RGTI earned $10.23 million in gross profit and brought in $13.1 million in revenue.
A company’s management is another factor that investors consider when determining the profitability of an investment. In the past year, return on investment (ROI) was -61.40%. Return on equity (ROE) for the past 12 months was -58.10%.
According to the earnings report, the company had a higher net income in the recent quarter than it did in the previous quarter. RGTI’s revenue rose 36.04% to $2.2 million during the quarter, while net income inched up to $3.33 million. While analysts expected Rigetti Computing Inc. to report -$0.17 quarterly earnings, the actual figure was -$0.13 per share, beating the consensus estimate by 23.50%. During the quarter, the company generated -$14.95 million in EBITDA. The liabilities of Rigetti Computing Inc. were 49.2 million at the end of its most recent quarter ended June 29, and its total debt was $36.39 million. The value of shareholders’ equity is $132.99 million.
Technical Picture
This quick technical analysis looks at Rigetti Computing Inc.’s (RGTI) price momentum. With a historical volatility rate of 77.13%, the RSI 9-day stood at 43.02% on 31 August.
With respect to its five-day moving average, the current Rigetti Computing Inc. price is down by -0.55% percent or -$0.0100. At present, RGTI shares trade -34.07% below its 20-day simple moving average and +212.39% percent above its 100-day simple moving average. However, the stock is currently trading approximately +84.62% above its SMA50 and +52.54% above its SMA200.
Stochastic coefficient K was 12.73% and Stochastic coefficient D was 16.28%, while ATR was 0.2771. Given the Stochastic reading of 10.17% for the 14-day period, the RSI (14) reading has been calculated as 46.19%. As of today, the MACD Oscillator reading stands at -0.0622, while the 14-day reading stands at -0.1826.
Analyst Ratings
The Benchmark Company upgraded its rating on Rigetti Computing Inc. (NASDAQ: RGTI) to a Buy in a note to investors on August 11, 2023. The analysts firm previously had a Hold rating on the stock.Rigetti Computing Inc. (RGTI) has been rated Buy by analysts. According to 0 brokerage firms, RGTI is a sell, and 0 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 3 recommending it as overweight.
With a median target price of $3.50, the current consensus forecast for the stock is $3.00 – $4.00. Based on these forecasts, analysts predict Rigetti Computing Inc. (RGTI) will achieve an average price target of $3.50.
