The 36-month beta value for RGTI is at 2.29. Analysts have varying views on the stock, with 5 analysts rating it as a “buy,” 0 rating it as “overweight,” 0 as “hold,” and 0 as “sell.”
The public float for RGTI is 155.14M, and currently, shorts hold a 18.03% of that float. The average trading volume for RGTI on September 30, 2024 was 4.82M shares.
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RGTI) stock’s latest price update
Rigetti Computing Inc (NASDAQ: RGTI) has seen a rise in its stock price by 4.13 in relation to its previous close of 0.78. However, the company has experienced a 2.05% gain in its stock price over the last five trading sessions. zacks.com reported 2024-09-26 that When deciding whether to buy, sell, or hold a stock, investors often rely on analyst recommendations. Media reports about rating changes by these brokerage-firm-employed (or sell-side) analysts often influence a stock’s price, but are they really important?
RGTI’s Market Performance
RGTI’s stock has risen by 2.05% in the past week, with a monthly drop of -5.78% and a quarterly drop of -24.28%. The volatility ratio for the week is 8.12% while the volatility levels for the last 30 days are 8.29% for Rigetti Computing Inc The simple moving average for the past 20 days is 0.96% for RGTI’s stock, with a -30.15% simple moving average for the past 200 days.
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 -7.96% 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 -65.67% of loss for the given period.
Volatility was left at 8.29%, however, over the last 30 days, the volatility rate increased by 8.12%, as shares sank -8.00% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading -25.67% lower at present.
During the last 5 trading sessions, RGTI rose by +2.05%, which changed the moving average for the period of 200-days by -20.57% in comparison to the 20-day moving average, which settled at $0.7990. In addition, Rigetti Computing Inc saw -17.74% 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 Sandford Helene Gail, who sale 43,200 shares at the price of $0.82 back on Sep 17 ’24. After this action, Sandford Helene Gail now owns 257,752 shares of Rigetti Computing Inc, valued at $35,424 using the latest closing price.
Sandford Helene Gail, the Director of Rigetti Computing Inc, sale 23,162 shares at $0.75 during a trade that took place back on Sep 11 ’24, which means that Sandford Helene Gail is holding 300,952 shares at $17,372 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 -13.85.
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 12.55. 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 conclusion, Rigetti Computing Inc (RGTI) has had a bad performance lately. Opinion on the stock among analysts is bullish, with some giving it a “buy” rating and others 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.
