Additionally, the 36-month beta value for RGTI is 2.47. There are mixed opinions on the stock, with 0 analysts rating it as a “buy,” 0 rating it as “overweight,” 0 rating it as “hold,” and 0 rating it as “sell.”
The public float for RGTI is 119.61M and currently, short sellers hold a 12.80% ratio of that float. The average trading volume of RGTI on May 06, 2024 was 7.26M shares.
RGTI) stock’s latest price update
The stock price of Rigetti Computing Inc (NASDAQ: RGTI) has plunged by -1.79 when compared to previous closing price of 1.40, but the company has seen a 2.61% gain in its stock price over the last five trading sessions. InvestorPlace reported 2024-05-03 that While some quantum computing stocks present promising opportunities, there are also certain stocks that investors should approach with caution. Not all companies are in a position to capitalize on the technology’s potential.
RGTI’s Market Performance
RGTI’s stock has risen by 2.61% in the past week, with a monthly rise of 2.61% and a quarterly rise of 16.53%. The volatility ratio for the week is 8.90% while the volatility levels for the last 30 days are 9.78% for Rigetti Computing Inc The simple moving average for the past 20 days is 11.38% for RGTI’s stock, with a -5.72% simple moving average for the past 200 days.
Analysts’ Opinion of RGTI
Many brokerage firms have already submitted their reports for RGTI stocks, with Alliance Global Partners repeating the rating for RGTI by listing it as a “Buy.” The predicted price for RGTI in the upcoming period, according to Alliance Global Partners is $3.50 based on the research report published on March 01, 2024 of the current year 2024.
The Benchmark Company, on the other hand, stated in their research note that they expect to see RGTI reach a price target of $4. The rating they have provided for RGTI stocks is “Buy” according to the report published on August 11th, 2023.
RGTI Trading at -10.55% from the 50-Day Moving Average
After a stumble in the market that brought RGTI to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -59.91% of loss for the given period.
Volatility was left at 9.78%, however, over the last 30 days, the volatility rate increased by 8.90%, as shares surge +2.93% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading -11.40% lower at present.
During the last 5 trading sessions, RGTI rose by +4.47%, which changed the moving average for the period of 200-days by -25.93% in comparison to the 20-day moving average, which settled at $1.2365. In addition, Rigetti Computing Inc saw 39.61% in overturn over a single year, with a tendency to cut further gains.
Insider Trading
Reports are indicating that there were more than several insider trading activities at RGTI starting from Danis Richard, who sale 46,326 shares at the price of $1.97 back on Mar 18 ’24. After this action, Danis Richard now owns 1,052,141 shares of Rigetti Computing Inc, valued at $91,262 using the latest closing price.
Rivas David, the CHIEF TECHNOLOGY OFFICER of Rigetti Computing Inc, sale 9,273 shares at $1.97 during a trade that took place back on Mar 18 ’24, which means that Rivas David is holding 880,440 shares at $18,268 based on the most recent closing price.
Stock Fundamentals for RGTI
Current profitability levels for the company are sitting at:
- -5.94 for the present operating margin
- 0.65 for the gross margin
The net margin for Rigetti Computing Inc stands at -6.49. The total capital return value is set at -0.54. Equity return is now at value -57.82, with -41.34 for asset returns.
Based on Rigetti Computing Inc (RGTI), the company’s capital structure generated 0.18 points at debt to capital in total, while cash flow to debt ratio is standing at -2.08. The debt to equity ratio resting at 0.22. The interest coverage ratio of the stock is -12.34.
Currently, EBITDA for the company is -62.2 million with net debt to EBITDA at -0.15. When we switch over and look at the enterprise to sales, we see a ratio of 20.15. The receivables turnover for the company is 2.39for trailing twelve months and the total asset turnover is 0.08. The liquidity ratio also appears to be rather interesting for investors as it stands at 3.71.
Conclusion
In conclusion, Rigetti Computing Inc (RGTI) has seen better performance in recent times. Analysts have a mixed opinion on the stock, with some rating it as a “buy” and others rating it as a “hold”. It’s important to note that the stock is currently trading at a significant distance from its 50-day moving average and its 52-week high.
