Rigetti Computing Inc (NASDAQ: RGTI)’s stock price has gone rise by 1.67 in comparison to its previous close of 1.20, however, the company has experienced a 9.91% increase in its stock price over the last five trading days. zacks.com reported 2024-10-23 that In the closing of the recent trading day, Rigetti Computing, Inc. (RGTI) stood at $1.21, denoting a -1.63% change from the preceding trading day.
Is It Worth Investing in Rigetti Computing Inc (NASDAQ: RGTI) Right Now?
RGTI has 36-month beta value of 2.28. Analysts have mixed views on the stock, with 5 analysts rating it as a “buy,” 0 as “overweight,” 0 as “hold,” and 0 as “sell.”
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The public float for RGTI is 155.14M, and currently, short sellers hold a 17.69% ratio of that float. The average trading volume of RGTI on October 28, 2024 was 3.82M shares.
RGTI’s Market Performance
The stock of Rigetti Computing Inc (RGTI) has seen a 9.91% increase in the past week, with a 56.79% rise in the past month, and a 18.45% gain in the past quarter. The volatility ratio for the week is 15.36%, and the volatility levels for the past 30 days are at 10.24% for RGTI. The simple moving average for the past 20 days is 31.83% for RGTI’s stock, with a 6.28% 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 40.27% 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 -48.31% of loss for the given period.
Volatility was left at 10.24%, however, over the last 30 days, the volatility rate increased by 15.36%, as shares surge +50.58% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +37.76% upper at present.
During the last 5 trading sessions, RGTI rose by +9.91%, which changed the moving average for the period of 200-days by +7.96% in comparison to the 20-day moving average, which settled at $0.9254. In addition, Rigetti Computing Inc saw 23.87% 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 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 18.76. 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
To put it simply, Rigetti Computing Inc (RGTI) has had a better performance in recent times. Analysts have a bullish opinion on the stock, with some rating 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.
