During the last session, Rigetti Computing Inc. (NASDAQ:RGTI)’s traded shares were 0.4 million. At the end of the trading day, the stock’s price was $4.45, reflecting an intraday gain of 4.22% or $0.18. The 52-week high for the RGTI share is $12.75, that puts it down -186.52 from that peak though still a striking 26.97% gain since the share price plummeted to a 52-week low of $3.25. The company’s market capitalization is $483.36M, and the average intraday trading volume over the past 10 days was 0.36 million shares, and the average trade volume was 700.44K shares over the past three months.
Rigetti Computing Inc. (RGTI) received a consensus recommendation of a Buy from analysts. That translates to a mean rating of 2.00. RGTI has a Sell rating from 0 analyst(s) out of 3 analysts who have looked at this stock. 0 analyst(s) recommend to Hold the stock while 0 suggest Overweight, and 3 recommend a Buy rating for it. 0 analyst(s) has rated the stock Underweight. Company’s earnings per share (EPS) for the current quarter are expected to be -$0.1.
Rigetti Computing Inc. (NASDAQ:RGTI) trade information
Rigetti Computing Inc. (RGTI) registered a 4.22% upside in the last session and has traded in the green over the past 5 sessions. The stock spiked 4.22% in intraday trading to $4.45 this Friday, 08/05/22, hitting a weekly high. The stock’s 5-day price performance is 0.45%, and it has moved by -14.09% in 30 days. Based on these gigs, the overall price performance for the year is -54.82%. The short interest in Rigetti Computing Inc. (NASDAQ:RGTI) is 3.17 million shares and it means that shorts have 3 day(s) to cover.
The consensus price target of analysts on Wall Street is $11.50, which implies an increase of 61.3% to the stock’s current value. The extremes of the forecast give a target low and a target high price of $11.00 and $12.00 respectively. As a result, RGTI is trading at a discount of -169.66% off the target high and -147.19% off the low.
Rigetti Computing Inc. (RGTI) estimates and forecasts
In the rating firms’ projections, revenue will increase 123.70% compared to the previous financial year.
Revenue for the current quarter is expected to be $2.65 million as predicted by 2 analyst(s). Meanwhile, a consensus of 2 analyst(s) estimates revenue growth to $3.5 million by the end of Sep 2022.
Rigetti Computing Inc. is due to release its next quarterly earnings in September. However, it is important to remember that the dividend yield ratio is merely an indicator meant to only serve as guidance.
Rigetti Computing Inc. (NASDAQ:RGTI)’s Major holders
Rigetti Computing Inc. insiders own 16.00% of total outstanding shares while institutional holders control 51.15%, with the float percentage being 60.90%. Deer Management Co. LLC is the largest shareholder of the company, while 64 institutions own stock in it. As of Mar 30, 2022, the company held over 21.58 million shares (or 18.96% of all shares), a total value of $135.97 million in shares.
The next largest institutional holding, with 4.34 million shares, is of EDBI Pte Ltd.’s that is approximately 3.81% of outstanding shares. At the market price on Mar 30, 2022, these shares were valued at $27.34 million.
Also, the Mutual Funds coming in first place with the largest holdings of Rigetti Computing Inc. (RGTI) shares are iShares Russell 2000 ETF and iShares Russell 2000 Value ETF. Data provided on Jun 29, 2022 indicates that iShares Russell 2000 ETF owns about 0.68 million shares. This amounts to just over 0.60 percent of the company’s overall shares, with a $2.5 million market value. The same data shows that the other fund manager holds slightly less at 0.3 million, or about 0.27% of the stock, which is worth about $1.12 million.