In last trading session, Rigetti Computing Inc (NASDAQ:RGTI) saw 61.49 million shares changing hands with its beta currently measuring 2.41. Company’s recent per share price level of $2.40 trading at $0.2 or 9.09% at ring of the bell on the day assigns it a market valuation of $503.47M. That closing price of RGTI’s stock is at a discount of -40.42% from its 52-week high price of $3.37 and is indicating a premium of 72.5% from its 52-week low price of $0.66. Taking a look at company’s average trading volume for last 10-days demonstrates a volume of 68.26 million shares which gives us an average trading volume of 14.41 million if we extend that period to 3-months.
For Rigetti Computing Inc (RGTI), analysts’ consensus is at an average recommendation of Buy while assigning it a mean rating of 1.00. Splitting up the data highlights that, out of 3 analysts covering the stock, 0 rated the stock as a Sell while 0 recommended an Overweight rating for the stock. 0 suggested the stock as a Hold whereas 3 see the stock as a Buy. 0 analyst(s) advised it as an Underweight. The company is expected to be making an EPS of -0.07 in the current quarter.
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Rigetti Computing Inc (NASDAQ:RGTI) trade information
Upright in the green during last session for gaining 9.09%, in the last five days RGTI remained trading in the green while hitting it’s week-highest on Monday, 11/25/24 when the stock touched $2.40 price level, adding 28.78% to its value on the day. Rigetti Computing Inc’s shares saw a change of 143.68% in year-to-date performance and have moved 77.78% in past 5-day. Rigetti Computing Inc (NASDAQ:RGTI) showed a performance of 64.38% in past 30-days. Number of shares sold short was 26.13 million shares which calculate 2.31 days to cover the short interests.
Wall Street analysts have assigned a consensus price target of 3 to the stock, which implies a rise of 20.0% to its current value. Analysts have been projecting 2 as a low price target for the stock while placing it at a high target of 4. It follows that stock’s current price would jump 16.67% in reaching the projected high whereas dropping to the targeted low would mean a gain of 16.67% for stock’s current value.
Rigetti Computing Inc (RGTI) estimates and forecasts
Statistics highlight that Rigetti Computing Inc is scoring comparatively higher than the scores of other players of the relevant industry. The company added 128.57% of value to its shares in past 6 months, showing an annual growth rate of 35.85% while that of industry is 24.80. Apart from that, the company came raising its revenue forecast for fiscal year 2024. This year revenue growth is estimated to fall -8.17% from the last financial year’s standing.
5 industry analysts have given their estimates about the company’s current quarter revenue by setting an average figure of 2.52M for the same. And 4 analysts are in estimates of company making revenue of 2.93M in the next quarter. Company posted 3.38M and 3.05M of sales in current and next quarters respectively a year earlier.
Rigetti Computing Inc (NASDAQ:RGTI)’s Major holders
Insiders are in possession of 3.23% of company’s total shares while institution are holding 33.64 percent of that, with stock having share float percentage of 34.77%. Investors also watch the number of corporate investors in a company very closely, which is 33.64% institutions for Rigetti Computing Inc that are currently holding shares of the company. DEER MANAGEMENT CO. LLC is the top institutional holder at RGTI for having 21.58 million shares of worth $23.09 million. And as of 2024-06-30, it was holding 14.2124 of the company’s outstanding shares.
The second largest institutional holder is BLACKROCK INC., which was holding about 8.91 million shares on 2024-06-30. The number of shares represents firm’s hold over 5.8665 of outstanding shares, having a total worth of $9.53 million.
On the other hand, ETF Series Solutions-Defiance Quantum ETF and iShares Russell 2000 ETF are the top two Mutual Funds which own company’s shares. As of Sep 30, 2024 , the former fund manager was holding 4.55 shares of worth $10.93 million or 2.37% of the total outstanding shares. The later fund manager was in possession of 3.62 shares on Aug 31, 2024 , making its stake of worth around $8.68 million in the company or a holder of 1.88% of company’s stock.
