In the last trading session, 5.46 million Rigetti Computing Inc (NASDAQ:RGTI) shares changed hands as the company’s beta touched 2.46. With the company’s per share price at $1.63 changed hands at -$0.06 or -3.55% during last session, the market valuation stood at $257.83M. RGTI’s last price was a discount, traded about -110.43% off its 52-week high of $3.43. The share price had its 52-week low at $0.36, which suggests the last value was 77.91% up since then. When we look at Rigetti Computing Inc’s average trading volume, we note the 10-day average is 9.16 million shares, with the 3-month average coming to 6.52 million.
Rigetti Computing Inc (NASDAQ:RGTI) trade information
Instantly RGTI was in red as seen at the end of in last trading. With action -17.05%, the performance over the past five days has been red. The drop to weekly highs of 2.0600 subtracted -3.55% to the stock’s daily price. The company’s shares are showing year-to-date upside of 65.50%, with the 5-day performance at -17.05% in the red. However, in the 30-day time frame, Rigetti Computing Inc (NASDAQ:RGTI) is 1.87% up. Looking at the short shares, we see there were 13.53 million shares sold at short interest cover period of 1.55 days.
Rigetti Computing Inc (RGTI) estimates and forecasts
Data shows that the Rigetti Computing Inc share is performing relatively much better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot 1.87% over the past 6 months, a 37.74% in annual growth rate that is considerably higher than the industry average of 13.80%. Moreover, analysts have looked to higher expectations by upgrading its fiscal year 2024 revenue estimates. The rating firms predict current quarter revenue for Rigetti Computing Inc will rise 42.10%, while the growth in revenue is estimated to hit 15.40% for the next quarter. Year-over-year growth is forecast to reach 39.70% up from the last financial year.
Consensus estimates given by 4 financial analysts project the company’s revenue in the current quarter to hit an average of $3.24 million. 4 analysts are of the opinion that Rigetti Computing Inc’s revenue for the quarter ending Jun 2024 will be $3.61 million. The company’s revenue for the corresponding quarters a year ago was $4.85 million. According to analysts, the company will likely register a growth in its current quarter sales, forecast at -33.20%.
The 2024 estimates are for Rigetti Computing Inc earnings to increase by 31.56%.
RGTI Dividends
Rigetti Computing Inc is expected to release its next quarterly earnings report between May 09 and May 13.
Rigetti Computing Inc (NASDAQ:RGTI)’s Major holders
If we look at who the major shareholders are, we find that insiders hold 5.14% of Rigetti Computing Inc shares while 38.40% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 40.48%. There are 38.40% institutions holding the Rigetti Computing Inc stock share, with Deer Management Co. LLC the top institutional holder. As of Dec 30, 2023, the company held 13.58% of the shares, roughly 21.58 million RGTI shares worth $35.18 million.
American Assets Investment Management, Llc holds the second largest percentage of outstanding shares, with 5.53% or 8.79 million shares worth $14.33 million as of Dec 30, 2023.
Among Mutual Funds, the top two as of Dec 30, 2023 were Vanguard Total Stock Market Index Fund and ETF Series Solutions-Defiance Quantum ETF. With 2.95 million shares estimated at $4.8 million under it, the former controlled 1.85% of total outstanding shares. On the other hand, ETF Series Solutions-Defiance Quantum ETF held about 1.61% of the shares, roughly 2.56 million shares worth around $4.18 million.
