Rigetti Computing Inc [NASDAQ: RGTI] gained 11.71% or 0.13 points to close at $1.24 with a heavy trading volume of 9954153 shares. The company report on January 11, 2024 at 8:30 AM that Rigetti Computing Awarded Innovate UK Grant to Develop Quantum Machine Learning Techniques for Financial Data Streams.
Rigetti will be joined by Amazon Web Services (AWS), Imperial College London, and Standard Chartered to develop quantum machine learning techniques designed to enable financial institutions to more effectively process, interpret, and make decisions with complex data streams.
The daily chart for RGTI points out that the company has recorded -50.20% loss over the past six months.
If we look at the average trading volume of 2.34M shares, RGTI reached to a volume of 9954153 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here is what top equities market gurus are saying 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 $3.00 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 0.10, with the Price to Sales ratio for RGTI stock in the period of the last 12 months amounting to 12.38. The Price to Book ratio for the last quarter was 1.54, with the Price to Cash per share for the same quarter was set at 0.75.
Trading performance analysis for RGTI stock
Rigetti Computing Inc [RGTI] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 11.71. With this latest performance, RGTI shares gained by 21.57% in over the last four-week period, additionally sinking by -50.20% over the last 6 months – not to mention a rise of 54.27% 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 64.29, with the RSI for the last a single of trading hit 70.62, and the three-weeks RSI is set at 59.44 for Rigetti Computing Inc [RGTI]. The present Moving Average for the last 50 days of trading for this stock 1.0542, while it was recorded at 1.1140 for the last single week of trading, and 1.2781 for the last 200 days.
Rigetti Computing Inc [RGTI]: A deeper dive into fundamental analysis
Rigetti Computing Inc’s liquidity data is similarly interesting compelling, with a Quick Ratio of 5.06 and a Current Ratio set at 5.06.
Rigetti Computing Inc [RGTI]: An earnings per share (EPS) analysis
With the latest financial reports released by the company, Rigetti Computing Inc posted -0.14/share EPS, while the average EPS was predicted by analysts to be reported at -0.12/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -16.70%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for RGTI.
An analysis of Institutional ownership at 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 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in RGTI stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in RGTI stock with ownership which is approximately 5.8325%.