Market Recap: Rigetti Computing Inc (RGTI)’s Positive Momentum, Closing at 0.95

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The closing price of Rigetti Computing Inc (NASDAQ: RGTI) was $0.95 for the day, up 8.31% from the previous closing price of $0.88. In other words, the price has increased by $8.31 from its previous closing price. On the day, 6.6 million shares were traded. RGTI stock price reached its highest trading level at $0.9749 during the session, while it also had its lowest trading level at $0.889.

Ratios:

Our analysis of RGTI’s different ratios will help us gain a deeper understanding of the company. For the most recent quarter (mrq), Quick Ratio is recorded 4.42 and its Current Ratio is at 4.42. In the meantime, Its Debt-to-Equity ratio is 0.24 whereas as Long-Term Debt/Eq ratio is at 0.11.

Upgrades & Downgrades

In addition, analysts’ ratings and any changes thereto give investors an idea of the stock’s future direction. In the most recent recommendation for this company, Alliance Global Partners on March 01, 2024, initiated with a Buy rating and assigned the stock a target price of $3.50.

On August 11, 2023, The Benchmark Company Upgraded its rating to Buy which previously was Hold but kept the price unchanged to $4.

Insider Transactions:

Also, insider trades can serve as a great indicator of what management thinks about the future direction of a stock’s price. A recent insider transaction in this stock occurred on Jun 18 ’24 when Fitzgerald Alissa sold 50,000 shares for $1.00 per share. The transaction valued at 50,000 led to the insider holds 90,810 shares of the business.

Rivas David sold 4,433 shares of RGTI for $5,940 on May 14 ’24. The CHIEF TECHNOLOGY OFFICER now owns 1,376,007 shares after completing the transaction at $1.34 per share. On May 14 ’24, another insider, Danis Richard, who serves as the GENERAL COUNSEL & CORP. SEC. of the company, sold 3,804 shares for $1.34 each. As a result, the insider received 5,097 and left with 1,048,337 shares of the company.

Valuation Measures:

Investors should consider key stock statistics when deciding whether to invest or divest. In the wake of the recent closing price, RGTI now has a Market Capitalization of 163856016 and an Enterprise Value of 88506280. For the stock, the TTM Price-to-Sale (P/S) ratio is 12.74 while its Price-to-Book (P/B) ratio in mrq is 1.36. Its current Enterprise Value per Revenue stands at 6.883 whereas that against EBITDA is -1.482.

Stock Price History:

Over the past 52 weeks, RGTI has reached a high of $3.43, while it has fallen to a 52-week low of $0.87. The 50-Day Moving Average of the stock is -16.80%, while the 200-Day Moving Average is calculated to be -26.68%.

Shares Statistics:

RGTI traded an average of 4.11M shares per day over the past three months and 3561600 shares per day over the past ten days. A total of 147.07M shares are outstanding, with a floating share count of 136.13M. Insiders hold about 20.82% of the company’s shares, while institutions hold 19.31% stake in the company. Shares short for RGTI as of 1715731200 were 19258105 with a Short Ratio of 5.05, compared to 1713139200 on 15309501. Therefore, it implies a Short% of Shares Outstanding of 19258105 and a Short% of Float of 13.01.

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