Rigetti Computing Inc (NASDAQ:RGTI) saw a downside of -7.01% to close Monday at $1.46 after subtracting -$0.11 on the day. The 5-day average trading volume is 3,140,900 shares of the company’s common stock. It has gained $1.8800 in the past week and touched a new high 2 times within the past 5 days. An average of 4,741,215 shares of the company has been traded in the last 20 days, and the 50-day average volume stands at 9,052,185.
RGTI’s 1-month performance is -19.34% or -$0.2800 on its low of $1.3900 reached on 09/25/23. The company’s shares have touched a 52-week low of $0.36 and high of $3.43, with the stock’s rally to the 52-week high happening on 08/01/23. YTD, RGTI has achieved 100.22% or $0.7308 and has reached a new high 17 times. However, the current price is down -57.43% from the 52-week high price.
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Insider Transactions
RGTI stock investors last saw insider trading activity on Sep 01.Fitzgerald Alissa (Director) most recently sold 8,000 shares at $1.80 per share on Sep 01. This transaction cost the insider $14,400. General Counsel & Corp. Sec., Danis Richard, sold 40,084 shares at a price of $1.91 on Aug 17. Then, on Aug 17, Chief Technology Officer Rivas David sold 7,896 shares at a price of $1.91 per share. This transaction amounted to $15,081.
Valuation Metrics
RGTI stock has a beta of 2.42. Moving on to other valuation ratios, the trailing price-to-sales (P/S) ratio is 13.49 while the price-to-book (PB) in the most recent quarter is 1.63.
Rigetti Computing Inc’s quick ratio for the period ended June 29 was 5.50, with the current ratio over the same period at 5.50. As well, the company’s long term debt to equity for the quarter ending June 29 was 0.20, while the total debt to equity was 0.31. In terms of profitability, the gross margin trailing 12 months is 14.66%. The trailing 12-month EBITDA margin is -733.85% while for the period ending June 29, Rigetti Computing Inc’s operating margin was -624.92%. The firm’s gross profit as reported stood at $10.23 million against revenue of $13.1 million.
Earnings Surprise
For the quarterly period ending June 29 this year, Net income and sales went up compared to those figures reported in the previous quarter. Net income grew 27.81% to -$16.97 million, while revenue of -$23.35 million was -37.6% off the previous quarter. Analysts expected RGTI to announce -$0.17 per share in earnings in its latest quarter, but it posted -$0.13, representing a 23.50% surprise. EBITDA for the quarter stood at more than -$14.95 million. RGTI stock balance sheet for the quarter ending June 29 shows that total liabilities totaled 49.2 million, with total debt at $36.39 million. Shareholders hold equity totaling $132.99 million.
Let’s look briefly at Rigetti Computing Inc (RGTI) price momentum from a technical analysis perspective. The 9-day relative strength index as at close on 25 September was 25.15% to suggest the stock is trending oversold, with historical volatility in this time period at 37.61%.
The stock’s 5-day moving average is $1.6320, reflecting a -17.98% or -$0.3200 change from its current price. RGTI is currently trading -16.09% above its 20-day SMA, +261.92% above its 100-day SMA. However, the stock’s current price level is away from the SMA50 by -17.05% and SMA200 by+39.05%.
Stochastic %K and %D was 6.60% and 7.49% and the average true range (ATR) pointed at 0.1972. The RSI (14) points at 35.29%, while the 14-day stochastic is at 7.78% with the period’s ATR at 0.2265. The stock’s 9-day MACD Oscillator is pointing at -0.2044 and -0.2924 on the 14-day charts.
Analyst Ratings
In the most recent analyst report for Rigetti Computing Inc (NASDAQ: RGTI), The Benchmark Company upgraded it to a Buy rating. They previously had a Hold rating on the stock. Analysts offering their rating for RGTI stock have a consensus rating for the stock as Buy. Currently, 0 brokerage advisors rate RGTI as a “sell,”, while 0 advise that investors “Hold.” 0 analysts have rated the stock as underweight. 0 rates the stock as overweight while 3 have offered a “buy” rating.
What is RGTI’s price target for the next 12 months?
Analysts have a consensus price target ranging from a low of $3.00 and a high of $4.00, with their median price target at $3.50. Looking at these predictions, the average price target given by analysts is for Rigetti Computing Inc (RGTI) stock is $3.50.
