In the latest trading session, 84.53 million Rigetti Computing Inc (NASDAQ:RGTI) shares changed hands as the company’s beta touched 2.73. With the company’s most recent per share price at $3.12 changing hands around $0.07 or 2.46% at last look, the market valuation stands at $763.67M. RGTI’s current price is a discount, trading about -8.01% off its 52-week high of $3.37. The share price had its 52-week low at $0.66, which suggests the last value was 78.85% up since then. When we look at Rigetti Computing Inc’s average trading volume, we note the 10-day average is 76.71 million shares, with the 3-month average coming to 17.32 million.
Analysts gave the Rigetti Computing Inc (RGTI) stock a consensus recommendation rating of Buy, calculated at a mean rating of 1.00. If we narrow down to specifics, the data shows that 0 out of 3 analysts rate the stock as a Sell, with a further 0 assigning it an Overweight rating. Of the remaining, 0 recommended RGTI as a Hold, 3 felt it is a Buy and 0 rated the stock as Underweight. Rigetti Computing Inc’s EPS for the current quarter is expected to be -0.07.
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Rigetti Computing Inc (NASDAQ:RGTI) trade information
Instantly RGTI is in green as seen in intraday trades today. With action 79.60%, the performance over the past five days has been green. The company’s shares are showing year-to-date upside of 217.29%, with the 5-day performance at 79.60% in the green. However, in the 30-day time frame, Rigetti Computing Inc (NASDAQ:RGTI) is 136.74% up. Looking at the short shares, we see there were 26.13 million shares sold at short interest cover period of 2.31 days.
The consensus price target for the stock as assigned by Wall Street analysts is 3, meaning bulls need a downside of -4.0% from its recent market value. According to analyst projections, RGTI’s forecast low is 2 with 4 as the target high. To hit the forecast high, the stock’s price needs a -28.21% plunge from its current level, while the stock would need to tank 35.9% for it to hit the projected low.
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 203.40% over the past 6 months, a 35.85% in annual growth rate that is considerably higher than the industry average of 24.60%. Year-over-year growth is forecast to reach -8.17% down from the last financial year.
Consensus estimates given by 5 financial analysts project the company’s revenue in the current quarter to hit an average of 2.52M. 4 analysts are of the opinion that Rigetti Computing Inc’s revenue for the current quarter will be 2.93M. The company’s revenue for the corresponding quarters a year ago was 3.38M and 3.05M respectively. According to analysts, the company will likely register a growth in its current quarter sales, forecast at -25.33%. The estimates for the next quarter sales put growth at -4.06%.
The 2024 estimates are for Rigetti Computing Inc earnings to increase by 31.13%.
RGTI Dividends
Rigetti Computing Inc is expected to release its next quarterly earnings report in January.
Rigetti Computing Inc (NASDAQ:RGTI)’s Major holders
If we look at who the major shareholders are, we find that insiders hold 2.57% of Rigetti Computing Inc shares while 23.35% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 23.96%. There are 23.35% institutions holding the Rigetti Computing Inc stock share, with DEER MANAGEMENT CO. LLC the top institutional holder. As of 2024-06-30, the company held 14.2124% of the shares, roughly 21.58 million RGTI shares worth $23.09 million.
BLACKROCK INC. holds the second largest percentage of outstanding shares, with 5.8665% or 8.91 million shares worth $9.53 million as of 2024-06-30.
Among Mutual Funds, the top two as of Sep 30, 2024 were ETF Series Solutions-Defiance Quantum ETF and iShares Russell 2000 ETF. With 4.55 shares estimated at $14.05 million under it, the former controlled 2.37% of total outstanding shares. On the other hand, iShares Russell 2000 ETF held about 1.88% of the shares, roughly 3.62 shares worth around $11.15 million.
