Rigetti Computing Inc (NASDAQ:RGTI) finished Thursday with a subtraction of -$0.11 to close at $1.31, a downside of -7.75 percent. An average of 3,722,840 shares of common stock have been traded in the last five days. There was a fall of -$0.2900 in the past week, and it reached a new high 10 times over the past 12 months. The last 20 days have seen an average of 4,579,110 shares traded, while the 50-day average volume stands at 8,784,032.
RGTI stock has decreased by -29.57% in the last month. The company shares reached their 1-month lowest point of $1.2700 on 09/28/23. With the stock rallying to its 52-week high on 08/01/23, shares of the company touched a low of $0.36 and a high of $3.43 in 52 weeks. It has reached a new high 17 times so far this year and achieved 79.65% or $0.5808 in price. In spite of this, the price is down -61.81% from the 52-week high.
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Insider Transactions
RGTI stock investors should be aware that Rigetti Computing Inc (RGTI) stock had its last reported insider trading activity 28 days ago on Sep 01. In this transaction, the insider spent $14,400. General Counsel & Corp. Sec., Danis Richard, disposed of 40,084 shares at a price of $1.91 on Aug 17. The insider now owns more than $76,560 worth of shares. Prior to that, Chief Technology Officer Rivas David went on to Sale 7,896 shares at $1.91 each on Aug 17. An amount of $15,081 was transacted.
Valuation Metrics
Rigetti Computing Inc (RGTI) stock’s beta is 2.46. Other valuation ratios to consider include the trailing price-to-sales (P/S) ratio at 12.11, the price-to-book (PB) ratio at 1.47.
Financial Health
The quick ratio of Rigetti Computing Inc for the three months ended June 29 was 5.50, and the current ratio was 5.50, indicating that the company is able to meet its debt obligations. Further, the company has a long term debt to equity ratio of 0.20 and a total debt to equity ratio of 0.31 for the quarter ending June 29. Rigetti Computing Inc’s EBITDA margin for the year ending June 29 is -733.85%, while its operating margin for the same period stands at -624.92%. Its gross profit as reported stood at $10.23 million compared to revenue of $13.1 million.
Earnings Surprise
In the quarter under review, the net income was up than the previous quarter. The company posted a net income of -$16.97 million in the quarter, while revenues of -$23.35 million were grew 27.81%. The analyst consensus anticipated Rigetti Computing Inc’s latest quarter earnings to come in at -$0.17 per share, but it turned out to be -$0.13, a 23.50% surprise. For the quarter, EBITDA amounted to -$14.95 million. Shareholders own equity worth $132.99 million.
Technical Picture
From a technical analysis perspective, let’s take a brief look at Rigetti Computing Inc (RGTI) price momentum. RSI 9-day as of the close on 28 September was 22.85%, suggesting the stock is oversold, with historical volatility in this time frame at 41.60%.
As of today, RGTI’s price is $1.4280 -18.13% or -$0.2900 from its 5-day moving average. RGTI is currently trading -25.57% lower than its 20-day SMA and +220.14% higher than its 100-day SMA. However, the stock’s current price level is -36.41% below the SMA50 and +32.22% above the SMA200.
The stochastic %K and %D were 4.61% and 5.17%, respectively, and the average true range (ATR) was 0.1755. With the 14-day stochastic at 4.30% and the average true range at 0.2061, the RSI (14) stands at 32.38%. The stock has reached -0.1911 on the 9-day MACD Oscillator while the 14-day reading was at -0.3314.
Analyst Ratings
The Benchmark Company upgraded Rigetti Computing Inc (NASDAQ: RGTI) to a a Buy rating in its most recent analyst report. Previously, the stock was rated as a Hold. The consensus rating for Rigetti Computing Inc (RGTI) among analysts is Buy. According to current brokerage recommendations, 0 brokerage firms advise that investors sell RGTI, while 0 suggest investors hold. There are 0 analysts who rate the stock as underweight. The stock is rated overweight by 0 analysts, while 3 others rate it as a “buy”.
What is RGTI’s price target for the next 12 months?
Analysts predict a range of price targets between $3.00 and $4.00, with a median target of $3.50. Taking a look at these predictions, the average price target given by analysts for Rigetti Computing Inc (RGTI) stock is $3.50.
