Rigetti Computing Inc [RGTI] Stock trading around $1.14 per share: What’s Next?

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Rigetti Computing Inc [NASDAQ: RGTI] traded at a high on 11/02/23, posting a 8.57 gain after which it closed the day’ session at $1.14. The company report on November 1, 2023 at 8:30 AM that Rigetti Computing Awarded Innovate UK Grant to Enhance Quantum Machine Learning Methods for Anti-Money Laundering Detection.

Rigetti will be joined by HSBC, the Quantum Software Lab based at the University of Edinburgh, and the National Quantum Computing Centre to work to improve the performance of quantum algorithms for anomaly detection, a critical method for identifying and preventing financial crime.

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The results of the trading session contributed to over 3535323 shares changing hands. Over the past one week, the price volatility of Rigetti Computing Inc stands at 8.98% while the volatility over the past one month is 10.52%.

The market cap for RGTI stock reached $151.61 million, with 125.26 million shares outstanding and 85.20 million shares in the current float. Compared to the average trading volume of 6.22M shares, RGTI reached a trading volume of 3535323 in the most recent trading day, which is why market watchdogs consider the stock to be active.

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What do top market gurus 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 1.00. 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 0.13, with the Price to Sales ratio for RGTI stock in the period of the last 12 months amounting to 10.54. The Price to Book ratio for the last quarter was 1.28, with the Price to Cash per share for the same quarter was set at 0.79.

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How has RGTI stock performed recently?

Rigetti Computing Inc [RGTI] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -2.56. With this latest performance, RGTI shares dropped by -9.52% in over the last four-week period, additionally plugging by 192.91% over the last 6 months – not to mention a drop of -39.36% 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 40.12, with the RSI for the last a single of trading hit 41.36, and the three-weeks RSI is set at 41.14 for Rigetti Computing Inc [RGTI]. The present Moving Average for the last 50 days of trading for this stock 1.5284, while it was recorded at 1.0900 for the last single week of trading, and 1.1958 for the last 200 days.

Rigetti Computing Inc [RGTI]: Deeper insight into the 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.

Insider trade positions for Rigetti Computing Inc [RGTI]

The top three institutional holders of RGTI stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2579%. BLACKROCK INC., holding 1.04 billion shares of the stock with an approximate value of $201.66 billion in RGTI stocks shares; and BERKSHIRE HATHAWAY INC, currently with $177.59 billion in RGTI stock with ownership which is approximately 5.7994%.

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