The stock of Rigetti Computing Inc (NASDAQ: RGTI) has decreased by -9.03 when compared to last closing price of 1.55.Despite this, the company has seen a loss of -6.62% in its stock price over the last five trading days. seekingalpha.com reported 2024-11-15 that Rigetti Computing focuses on quantum computing with superconducting qubit-based processors but faces financial challenges despite technological advancements. The company raised $12 million in Q3 2024 but still reported a $17.3 million operating loss, with $92.6 million in cash and securities. Rigetti aims to release a 36-qubit system in mid-2025 and a 100-qubit system by year-end, targeting a $7.5 billion market.
Is It Worth Investing in Rigetti Computing Inc (NASDAQ: RGTI) Right Now?
Moreover, the 36-month beta value for RGTI is 2.17. Analysts have varying opinions on the stock, with 5 analysts rating it as a “buy,” 1 as “overweight,” 0 as “hold,” and 0 as “sell.”
3 Tiny Stocks Primed to Explode
The world's greatest investor — Warren Buffett — has a simple formula for making big money in the markets. He buys up valuable assets when they are very cheap. For stock market investors that means buying up cheap small cap stocks like these with huge upside potential.
We've set up an alert service to help smart investors take full advantage of the small cap stocks primed for big returns.
Click here for full details and to join for free
Sponsored
The public float for RGTI is 155.99M and currently, short sellers hold a 16.45% of that float. On November 18, 2024, RGTI’s average trading volume was 5.71M shares.
RGTI’s Market Performance
RGTI’s stock has seen a -6.62% decrease for the week, with a 48.26% rise in the past month and a 62.07% gain in the past quarter. The volatility ratio for the week is 21.13%, and the volatility levels for the past 30 days are at 16.98% for Rigetti Computing Inc. The simple moving average for the past 20 days is 3.98% for RGTI’s stock, with a 20.42% 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 37.34% 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 -40.25% of loss for the given period.
Volatility was left at 16.98%, however, over the last 30 days, the volatility rate increased by 21.13%.
During the last 5 trading sessions, RGTI fell by -6.62%, in comparison to the 20-day moving average. In addition, Rigetti Computing Inc saw 43.16% 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 proposed sale 5,982 shares at the price of $1.55 back on Nov 15 ’24. After this action, Danis Richard now owns shares of Rigetti Computing Inc, valued at $9,272 using the latest closing price.
Rivas David, the CHIEF TECHNOLOGY OFFICER of Rigetti Computing Inc, sale 60,000 shares at $1.64 during a trade that took place back on Nov 14 ’24, which means that Rivas David is holding 1,276,369 shares at $98,400 based on the most recent closing price.
Stock Fundamentals for RGTI
Current profitability levels for the company are sitting at:
- -5.65 for the present operating margin
- 0.34 for the gross margin
The net margin for Rigetti Computing Inc stands at -5.1. The total capital return value is set at -0.5. Equity return is now at value -51.46, with -37.59 for asset returns.
Based on Rigetti Computing Inc (RGTI), the company’s capital structure generated 0.14 points at debt to capital in total, while cash flow to debt ratio is standing at -2.66. The debt to equity ratio resting at 0.17. The interest coverage ratio of the stock is -25.75.
Currently, EBITDA for the company is -60.22 million with net debt to EBITDA at -0.0. When we switch over and look at the enterprise to sales, we see a ratio of 22.81. The receivables turnover for the company is 1.86for 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 4.84.
Conclusion
To wrap up, the performance of Rigetti Computing Inc (RGTI) has been better in recent times. The stock has received a bullish of “buy” and “hold” ratings from analysts. 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.
