In the last trading session, 95.63 million shares of the Rigetti Computing Inc (NASDAQ:RGTI) were traded, and its beta was 1.27. Most recently the company’s share price was $12.85, and it changed around -$0.44 or -3.31% from the last close, which brings the market valuation of the company to $3.11B. RGTI currently trades at a discount to its 52-week high of $21.42, offering almost -66.69% off that amount. The share price’s 52-week low was $0.66, which indicates that the current value has risen by an impressive 94.86% since then. We note from Rigetti Computing Inc’s average daily trading volume that its 10-day average is 121.83 million shares, with the 3-month average coming to 145.95 million.
Rigetti Computing Inc stock received a consensus recommendation rating of Buy, based on a mean score of 1.00. If we narrow it down even further, the data shows that 0 out of 6 analysts rate the stock as a Sell; another 1 rate it as Overweight. Among the rest, 0 recommended RGTI as a Hold, whereas 5 deemed it a Buy, and 0 rated it as Underweight. Rigetti Computing Inc is expected to report earnings per share of -0.06 for the current quarter.
Rigetti Computing Inc (NASDAQ:RGTI) trade information
Instantly RGTI has showed a red trend with a performance of -3.31% at the end of last trading. The performance over the last five days has remained in the red territory. The rise to weekly highs of 15.15 on recent trading dayincreased the stock’s daily price by 15.18%. The company’s shares are currently down -15.79% year-to-date, but still down -2.43% over the last five days. On the other hand, Rigetti Computing Inc (NASDAQ:RGTI) is -30.13% down in the 30-day period. We can see from the shorts that 47.12 million shares have been sold at a short interest cover period of 0.22 day(s).
The consensus price target as assigned by Wall Street analysts is $3, which translates to bulls needing to decrease their stock price by -328.33% from its current value. Analyst projections state that RGTI is forecast to be at a low of $2 and a high of $4.
Rigetti Computing Inc (RGTI) estimates and forecasts
The year-over-year growth rate is expected to be -8.35%, down from the previous year.
Consensus estimates provided by 6 financial analysts predict the company will bring in an average of 2.5M in revenue for the current quarter. 5 analysts expect Rigetti Computing Inc to make 2.84M in revenue for the current ending quarter. The company’s sales for the same quarters a year ago were 3.38M and 3.05M respectively. Analysts predict that the company’s current quarter sales will drop, forecast at -25.93%. Forecasts for the next quarter put sales growth at -6.87%.
Rigetti Computing Inc earnings are expected to increase by 32.63% in 2025, but the outlook is positive 26.15% per year for the next five years.
RGTI Dividends
Rigetti Computing Inc’s next quarterly earnings report is expected to be released in March.
Rigetti Computing Inc (NASDAQ:RGTI)’s Major holders
Upon looking at major shareholders, it appears that insiders hold 1.20% of Rigetti Computing Inc shares, and 35.40% of them are in the hands of institutional investors. The stock currently has a share float of 35.83%. Rigetti Computing Inc stock is held by 199.0 institutions, with DEER MANAGEMENT CO. LLC being the largest institutional investor. By 2024-06-30, it held 14.2124% of the shares, which is about 21.58 million shares worth $23.09 million.
BLACKROCK INC., with 5.8665% or 8.91 million shares worth $9.53 million as of 2024-06-30, holds the second largest percentage of outstanding shares.
ETF Series Solutions-Defiance Quantum ETF and Vanguard Total Stock Market Index Fund were the top two Mutual Funds as of Sep 30, 2024 . The former held 4.55 shares worth $58.51 million, making up 2.37% of all outstanding shares. On the other hand, Vanguard Total Stock Market Index Fund held roughly 3.88 shares worth around $49.85 million, which represents about 2.02% of the total shares outstanding.
