Is Rigetti Computing Inc. (NASDAQ:RGTI) an excellent stock to buy at the moment?

After finishing at $0.60 in the prior trading day, Rigetti Computing Inc. (NASDAQ: RGTI) closed at $0.53, down -10.62%. In other words, the price has decreased by -$0.0635 from its previous closing price. On the day, 1192682 shares were traded. RGTI stock price reached its highest trading level at $0.6000 during the session, while it also had its lowest trading level at $0.5219.

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Our goal is to gain a better understanding of RGTI by taking a closer look at its different ratios. For the most recent quarter (mrq), Quick Ratio is recorded 10.40 and its Current Ratio is at 10.40. In the meantime, Its Debt-to-Equity ratio is 0.18 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 Feb 08 when Fitzgerald Alissa sold 4,131 shares for $1.28 per share. The transaction valued at 5,288 led to the insider holds 67,436 shares of the business.

Fitzgerald Alissa sold 3,869 shares of RGTI for $4,952 on Feb 06. The Director now owns 67,436 shares after completing the transaction at $1.28 per share. On Dec 13, another insider, Rigetti Chad, who serves as the Director of the company, sold 132,289 shares for $0.97 each. As a result, the insider received 128,320 and left with 8,884,191 shares of the company.

Valuation Measures:

For the stock, the TTM Price-to-Sale (P/S) ratio is 8.17 while its Price-to-Book (P/B) ratio in mrq is 0.38.

Stock Price History:

Over the past 52 weeks, RGTI has reached a high of $9.52, while it has fallen to a 52-week low of $0.58. The 50-Day Moving Average of the stock is 0.8717, while the 200-Day Moving Average is calculated to be 2.5155.

Shares Statistics:

The stock has traded on average 1.57M shares per day over the past 3-months and 831.78k shares per day over the last 10 days, according to various share statistics. A total of 118.57M shares are outstanding, with a floating share count of 114.76M. 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 Jan 30, 2023 were 3.8M with a Short Ratio of 4.01M, compared to 3.62M on Dec 29, 2022.

Earnings Estimates

Its stock is currently analyzed by 2 different market analysts. The consensus estimate for the next quarter is -$0.14, with high estimates of -$0.1 and low estimates of -$0.19.

Analysts are recommending an EPS of between -$0.26 and -$0.61 for the fiscal current year, implying an average EPS of -$0.44. EPS for the following year is -$0.51, with 3 analysts recommending between -$0.36 and -$0.78.

Revenue Estimates

A total of 3 analysts have provided revenue estimates for RGTI’s current fiscal year. The highest revenue estimate was $12.5M, while the lowest revenue estimate was $10.4M, resulting in an average revenue estimate of $11.67M. In the same quarter a year ago, actual revenue was $5.54M, up 110.60% from the average estimate. Based on 3 analysts’ estimates, the company’s revenue will be $25.33M in the next fiscal year. The high estimate is $32.5M and the low estimate is $19.5M. The average revenue growth estimate for next year is up 117.10% from the average revenue estimate for this year.