In the latest trading session, 40.08 million Rigetti Computing Inc (NASDAQ:RGTI) shares changed hands as the company’s beta touched 1.19. With the company’s most recent per share price at $10.74 changed hands at -$0.48 or -4.27% at last look, the market valuation stands at $3.07B. RGTI’s current price is a discount, trading about -99.44% off its 52-week high of $21.42. The share price had its 52-week low at $0.66, which suggests the last value was 93.85% up since then. When we look at Rigetti Computing Inc’s average trading volume, we note the 10-day average is 67.73 million shares, with the 3-month average coming to 137.96 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 (NASDAQ:RGTI) trade information
Instantly RGTI was in red as seen in intraday trades today. With action 35.79%, the performance over the past five days has been green. The company’s shares are showing year-to-date downside of -29.61%, with the 5-day performance at 35.79% in the green. However, in the 30-day time frame, Rigetti Computing Inc (NASDAQ:RGTI) is -12.32% down. Looking at the short shares, we see there were 61.02 million shares sold at short interest cover period of 0.69 days.
The consensus price target for the stock as assigned by Wall Street analysts is 3, meaning bulls need a downside of -258.0% 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 62.76% surge from its current level, while the stock would need to tank 81.38% for it to hit the projected low.
Rigetti Computing Inc (NASDAQ:RGTI)’s Major holders
If we look at who the major shareholders are, we find that insiders hold 1.03% of Rigetti Computing Inc shares while 24.00% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 24.25%. There are 24.00% 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 12.5549% 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 Dec 31, 2024 were Vanguard Total Stock Market Index Fund and iShares Russell 2000 ETF. With 7.96 shares estimated at $85.47 million under it, the former controlled 2.78% of total outstanding shares. On the other hand, iShares Russell 2000 ETF held about 1.48% of the shares, roughly 4.24 shares worth around $45.49 million.
