During the last session, Rigetti Computing Inc (NASDAQ:RGTI)’s traded shares were 15.66 million, with the beta value of the company hitting 2.12. At the end of the trading day, the stock’s price was $1.35, reflecting an intraday gain of 3.05% or $0.04. The 52-week high for the RGTI share is $2.36, that puts it down -74.81 from that peak though still a striking 51.11% gain since the share price plummeted to a 52-week low of $0.66. The company’s market capitalization is $259.60M, and the average intraday trading volume over the past 10 days was 15.96 million shares, and the average trade volume was 6.19 million shares over the past three months.
Rigetti Computing Inc (RGTI) received a consensus recommendation of Buy from analysts. That translates to a mean rating of 1.00. 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 -0.07.
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Rigetti Computing Inc (NASDAQ:RGTI) trade information
Rigetti Computing Inc (RGTI) registered a 3.05% upside in the last session and has traded in the red over the past 5 sessions. The stock spiked 3.05% in intraday trading to $1.35, hitting a weekly high. The stock’s 5-day price performance is -20.59%, and it has moved by 9.76% in 30 days. Based on these gigs, the overall price performance for the year is 28.57%. The short interest in Rigetti Computing Inc (NASDAQ:RGTI) is 25.67 million shares and it means that shorts have 4.28 day(s) to cover.
The consensus price target of analysts on Wall Street is $3, which implies an increase of 55.0% to the stock’s current value. The extremes of the forecast give a target low and a target high price of $2 and $4 respectively. As a result, RGTI is trading at a discount of -196.3% off the target high and -48.15% off the low.
Rigetti Computing Inc (RGTI) estimates and forecasts
Statistics show that Rigetti Computing Inc has outperformed its competitors in share price, compared to the industry in which it operates. Rigetti Computing Inc (RGTI) shares have gone up 26.17% during the last six months, with a year-to-date growth rate more than the industry average at 35.85% against 17.90. Yet analysts are ramping up their growth forecast for the fiscal year 2024. Revenue is predicted to shrink -70.32% this quarter and then jump 45.01% in the quarter after that. In the rating firms’ projections, revenue will decrease -8.17% compared to the previous financial year.
As companies strive to predict their financial trajectories, we turn our attention to the forthcoming financial quarter. Here are the insights gathered from industry analysts. Revenue for the current quarter is expected to be 2.52M as predicted by 5 analyst(s). Meanwhile, a consensus of 4 analyst(s) estimates revenue growth to 2.93M by the end of current fiscal year. As per earnings report from last fiscal year’s results, sales for the corresponding quarters totaled 3.38M and 3.05M respectively. In this case, analysts expect current quarter sales to shrink by -25.33% and then drop by -4.06% in the coming quarter.
While earnings are projected to return 31.13% in 2024.
RGTI Dividends
Rigetti Computing Inc is due to release its next quarterly earnings in December. 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 3.30% of total outstanding shares while institutional holders control 33.64%, with the float percentage being 34.79%. DEER MANAGEMENT CO. LLC is the largest shareholder of the company, while 125.0 institutions own stock in it. As of 2024-06-30, the company held over 21.58 million shares (or 14.2124% of all shares), a total value of $23.09 million in shares.
The next largest institutional holding, with 8.91 million shares, is of BLACKROCK INC.’s that is approximately 5.8665% of outstanding shares. At the market price on 2024-06-30, these shares were valued at $9.53 million.
