How is Rigetti Computing Inc.’s (NASDAQ: RGTI) stock expected to perform amid current market woes?

The price of Rigetti Computing Inc. (NASDAQ: RGTI) closed at $1.39 in the last session, up 12.10% from day before closing price of $1.24. In other words, the price has increased by $+0.1500 from its previous closing price. On the day, 1851915 shares were traded. RGTI stock price reached its highest trading level at $1.5200 during the session, while it also had its lowest trading level at $1.2700.

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We take a closer look at RGTI’s different ratios to gain a better understanding of the stock. For the most recent quarter (mrq), Quick Ratio is recorded 17.10 and its Current Ratio is at 17.10. In the meantime, Its Debt-to-Equity ratio is 0.17 whereas as Long-Term Debt/Eq ratio is at 0.14.

Upgrades & Downgrades

On November 10, 2022, Deutsche Bank Downgraded its rating to Hold which previously was Buy and also lowered its target price recommendation from $10 to $2.

On August 09, 2022, Deutsche Bank started tracking the stock assigning a Buy rating and target price of $10.Deutsche Bank initiated its Buy rating on August 09, 2022, with a $10 target price.

Insider Transactions:

An investor can also benefit from insider trades by learning what management is thinking about the future direction of stock prices. A recent insider transaction in this stock occurred on Nov 01 when Fitzgerald Alissa sold 8,000 shares for $1.92 per share. The transaction valued at 15,360 led to the insider holds 67,436 shares of the business.

Fitzgerald Alissa sold 8,000 shares of RGTI for $14,640 on Oct 03. The Director now owns 67,436 shares after completing the transaction at $1.83 per share. On Sep 14, another insider, Fitzgerald Alissa, who serves as the Director of the company, sold 8,000 shares for $2.33 each. As a result, the insider received 18,640 and left with 67,436 shares of the company.

Valuation Measures:

For the stock, the TTM Price-to-Sale (P/S) ratio is 17.46 while its Price-to-Book (P/B) ratio in mrq is 0.91.

Stock Price History:

Over the past 52 weeks, RGTI has reached a high of $12.09, while it has fallen to a 52-week low of $0.98. The 50-Day Moving Average of the stock is 1.8462, while the 200-Day Moving Average is calculated to be 5.0813.

Shares Statistics:

According to the various share statistics, RGTI traded on average about 1.06M shares per day over the past 3-months and 1.02M shares per day over the past 10 days. A total of 114.10M shares are outstanding, with a floating share count of 110.31M. Insiders hold about 12.10% of the company’s shares, while institutions hold 47.60% stake in the company. Shares short for RGTI as of Oct 13, 2022 were 2.14M with a Short Ratio of 1.89M, compared to 2.37M on Sep 14, 2022.

Earnings Estimates

The company has 3 analysts who recommend its stock at the moment. The consensus estimate for the next quarter is -$0.1, with high estimates of -$0.05 and low estimates of -$0.14.

Analysts are recommending an EPS of between -$0.28 and -$0.63 for the fiscal current year, implying an average EPS of -$0.48. EPS for the following year is -$0.4, with 4 analysts recommending between -$0.25 and -$0.57.

Revenue Estimates

A total of 4 analysts have provided revenue estimates for RGTI’s current fiscal year. The highest revenue estimate was $12.5M, while the lowest revenue estimate was $12M, resulting in an average revenue estimate of $12.25M. In the same quarter a year ago, actual revenue was $5.54M, up 121.00% from the average estimate. Based on 4 analysts’ estimates, the company’s revenue will be $26.7M in the next fiscal year. The high estimate is $37M and the low estimate is $22M. The average revenue growth estimate for next year is up 118.00% from the average revenue estimate for this year.