Rigetti Computing Inc. [NASDAQ: RGTI] surged by $0.19 during the normal trading session on Tuesday and reaching a high of $2.13 during the day while it closed the day at $2.03. The company report on August 10, 2023 at 4:05 PM that Rigetti Computing Reports Second Quarter 2023 Results.
Completes its first QPU sale to a national lab.
Signs collaboration agreement with ADIA Lab to develop a quantum machine learning solution for probability distribution classification .
Rigetti Computing Inc. stock has also gained 7.41% of its value over the past 7 days. However, RGTI stock has inclined by 122.51% in the 3 months of the year. Over the past six months meanwhile, it has gained 155.09% and gained 178.39% year-on date.
The market cap for RGTI stock reached $264.12 million, with 128.51 million shares outstanding and 124.99 million shares in the current float. Compared to the average trading volume of 8.57M shares, RGTI reached a trading volume of 8691093 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here’s what leading stock market gurus have to say about Rigetti Computing Inc. [RGTI]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for RGTI shares is $3.50 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on RGTI stock is a recommendation set at 2.00. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
The Benchmark Company have made an estimate for Rigetti Computing Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on August 11, 2023.
The Average True Range (ATR) for Rigetti Computing Inc. is set at 0.30, with the Price to Sales ratio for RGTI stock in the period of the last 12 months amounting to 18.34. The Price to Book ratio for the last quarter was 2.21, with the Price to Cash per share for the same quarter was set at 0.81.
RGTI stock trade performance evaluation
Rigetti Computing Inc. [RGTI] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 7.41. With this latest performance, RGTI shares dropped by -25.91% in over the last four-week period, additionally plugging by 155.09% over the last 6 months – not to mention a drop of -42.17% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for RGTI stock in for the last two-week period is set at 51.84, with the RSI for the last a single of trading hit 53.80, and the three-weeks RSI is set at 52.09 for Rigetti Computing Inc. [RGTI]. The present Moving Average for the last 50 days of trading for this stock 1.9100, while it was recorded at 1.8600 for the last single week of trading, and 1.0900 for the last 200 days.
Rigetti Computing Inc. [RGTI]: An insightful look at the core fundamentals
Operating Margin for any stock indicates how profitable investing would be, and Rigetti Computing Inc. [RGTI] shares currently have an operating margin of -791.51 and a Gross Margin at +20.42. Rigetti Computing Inc.’s Net Margin is presently recorded at -545.88.
Return on Total Capital for RGTI is now -42.51, given the latest momentum, and Return on Invested Capital for the company is -29.97. Return on Equity for this stock declined to -31.88, with Return on Assets sitting at -26.04. When it comes to the capital structure of this company, Rigetti Computing Inc. [RGTI] has a Total Debt to Total Equity ratio set at 26.06. Additionally, RGTI Total Debt to Total Capital is recorded at 20.67, with Total Debt to Total Assets ending up at 19.24. Long-Term Debt to Equity for the company is recorded at 18.97, with the Long-Term Debt to Total Capital now at 15.05.
Reflecting on the efficiency of the workforce at the company, Rigetti Computing Inc. [RGTI] managed to generate an average of -$496,674 per employee. Receivables Turnover for the company is 4.20 with a Total Asset Turnover recorded at a value of 0.05.Rigetti Computing Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 5.50 and a Current Ratio set at 5.50.
Rigetti Computing Inc. [RGTI]: Institutional Ownership
The top three institutional holders of RGTI stocks are: VANGUARD GROUP INC with ownership of 1.31 billion shares, which is approximately 8.2089%. BLACKROCK INC., holding 1.04 billion shares of the stock with an approximate value of $170.67 trillion in RGTI stocks shares; and BERKSHIRE HATHAWAY INC, currently with $150.98 trillion in RGTI stock with ownership which is approximately 5.7381%.