The stock of Rigetti Computing Inc (RGTI) has gone up by 1.89% for the week, with a -16.37% drop in the past month and a -24.37% drop in the past quarter. The volatility ratio for the week is 8.58%, and the volatility levels for the past 30 days are 8.57% for RGTI. The simple moving average for the last 20 days is -6.53% for RGTI stock, with a simple moving average of -27.18% for the last 200 days.
Is It Worth Investing in Rigetti Computing Inc (NASDAQ: RGTI) Right Now?
The 36-month beta value for RGTI is also noteworthy at 2.33. 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.”
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The public float for RGTI is 151.27M, and at present, short sellers hold a 17.77% of that float. The average trading volume of RGTI on August 19, 2024 was 5.14M shares.
RGTI) stock’s latest price update
Rigetti Computing Inc (NASDAQ: RGTI)’s stock price has decreased by -3.16 compared to its previous closing price of 0.90. However, the company has seen a 1.89% increase in its stock price over the last five trading sessions. globenewswire.com reported 2024-08-15 that Rigetti’s novel technique, Alternating-Bias Assisted Annealing (ABAA), allows for more precise qubit frequency targeting, enabling improved execution of 2-qubit gates and a reduction in defects, which both contribute to higher fidelity. This work was recently published in Nature Communications Materials.
Analysts’ Opinion of RGTI
Many brokerage firms have already submitted their reports for RGTI stocks, with B. Riley Securities repeating the rating for RGTI by listing it as a “Buy.” The predicted price for RGTI in the upcoming period, according to B. Riley Securities is $3 based on the research report published on July 25, 2024 of the current year 2024.
Alliance Global Partners, on the other hand, stated in their research note that they expect to see RGTI reach a price target of $3.50. The rating they have provided for RGTI stocks is “Buy” according to the report published on March 01st, 2024.
The Benchmark Company gave a rating of “Buy” to RGTI, setting the target price at $4 in the report published on August 11th of the previous year.
RGTI Trading at -12.07% 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 -63.14% of loss for the given period.
Volatility was left at 8.57%, however, over the last 30 days, the volatility rate increased by 8.58%, as shares sank -17.19% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading -17.19% lower at present.
During the last 5 trading sessions, RGTI rose by +1.85%, which changed the moving average for the period of 200-days by -17.97% in comparison to the 20-day moving average, which settled at $0.9215. In addition, Rigetti Computing Inc saw -11.69% in overturn over a single year, with a tendency to cut further losses.
Insider Trading
Reports are indicating that there were more than several insider trading activities at RGTI starting from Rivas David, who proposed sale 39,638 shares at the price of $0.90 back on Aug 14 ’24. After this action, Rivas David now owns shares of Rigetti Computing Inc, valued at $35,539 using the latest closing price.
Danis Richard, the Officer of Rigetti Computing Inc, proposed sale 6,332 shares at $0.90 during a trade that took place back on Aug 14 ’24, which means that Danis Richard is holding shares at $5,677 based on the most recent closing price.
Stock Fundamentals for RGTI
Current profitability levels for the company are sitting at:
- -5.29 for the present operating margin
- 0.28 for the gross margin
The net margin for Rigetti Computing Inc stands at -5.39. The total capital return value is set at -0.49. Equity return is now at value -56.53, with -41.20 for asset returns.
Based on Rigetti Computing Inc (RGTI), the company’s capital structure generated 0.13 points at debt to capital in total, while cash flow to debt ratio is standing at -2.33. The debt to equity ratio resting at 0.15. The interest coverage ratio of the stock is -23.17.
Currently, EBITDA for the company is -62.2 million with net debt to EBITDA at -0.06. When we switch over and look at the enterprise to sales, we see a ratio of 13.37. The receivables turnover for the company is 2.41for 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 4.29.
Conclusion
In summary, Rigetti Computing Inc (RGTI) has had a bad performance as of late. Analysts have mixed opinions on the stock, with some viewing it as a “buy” and others 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.
