Analysis of Rigetti Computing Inc. (NASDAQ:RGTI): Selected Notes

Rigetti Computing Inc. (NASDAQ: RGTI) closed the day trading at $0.90 up 0.69% from the previous closing price of $0.89. In other words, the price has increased by $+0.0062 from its previous closing price. On the day, 583083 shares were traded. RGTI stock price reached its highest trading level at $0.9086 during the session, while it also had its lowest trading level at $0.8604.

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Ratios:

For a better understanding of RGTI, let’s look at its different ratios. 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:

The insider trade also gives investors a glimpse into the future direction of stock prices, which can be beneficial to investors. A recent insider transaction in this stock occurred on Dec 13 when Rigetti Chad sold 132,289 shares for $0.97 per share. The transaction valued at 128,320 led to the insider holds 8,884,191 shares of the business.

Harburn Mike sold 5,983 shares of RGTI for $5,804 on Dec 13. The SVP, Fabrication Ops. Hardware now owns 712,129 shares after completing the transaction at $0.97 per share. On Dec 13, another insider, Sereda Brian J, who serves as the Chief Financial Officer of the company, sold 8,822 shares for $0.97 each. As a result, the insider received 8,557 and left with 989,341 shares of the company.

Valuation Measures:

For the stock, the TTM Price-to-Sale (P/S) ratio is 11.78 while its Price-to-Book (P/B) ratio in mrq is 0.59.

Stock Price History:

Over the past 52 weeks, RGTI has reached a high of $11.37, while it has fallen to a 52-week low of $0.67. The 50-Day Moving Average of the stock is 1.0107, while the 200-Day Moving Average is calculated to be 3.6089.

Shares Statistics:

Over the past 3-months, RGTI traded about 950.62K shares per day on average, while over the past 10 days, RGTI traded about 713.72k shares per day. A total of 123.03M shares are outstanding, with a floating share count of 115.69M. Insiders hold about 10.60% of the company’s shares, while institutions hold 45.80% stake in the company. Shares short for RGTI as of Oct 13, 2022 were 2.14M with a Short Ratio of 3.62M, compared to 2.37M on Sep 14, 2022.

Earnings Estimates

Current recommendations for the stock of the company come from 3 analysts. 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.