Rigetti Computing Inc (NASDAQ: RGTI) closed the day trading at $2.21 up 18.82% from the previous closing price of $1.86. In other words, the price has increased by $+0.3500 from its previous closing price. On the day, 15177932 shares were traded.
Ratios:
For a better understanding of RGTI, let’s look at its different ratios. For the most recent quarter (mrq), Quick Ratio is recorded 5.06 and its Current Ratio is at 5.06. In the meantime, Its Debt-to-Equity ratio is 0.30 whereas as Long-Term Debt/Eq ratio is at 0.18.
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:
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 Mar 01 ’24 when Fitzgerald Alissa sold 34,747 shares for $1.93 per share. The transaction valued at 67,062 led to the insider holds 140,810 shares of the business.
Fitzgerald Alissa sold 30,000 shares of RGTI for $60,300 on Feb 28 ’24. The Director now owns 140,810 shares after completing the transaction at $2.01 per share. On Feb 20 ’24, another insider, Fitzgerald Alissa, who serves as the Director of the company, sold 10,000 shares for $1.83 each. As a result, the insider received 18,300 and left with 140,810 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 323.36M and an Enterprise Value of 246.68M. For the stock, the TTM Price-to-Sale (P/S) ratio is 22.06 while its Price-to-Book (P/B) ratio in mrq is 2.75. Its current Enterprise Value per Revenue stands at 16.79 whereas that against EBITDA is -3.48.
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 $0.36. The 50-Day Moving Average of the stock is 1.3603, while the 200-Day Moving Average is calculated to be 1.4341.
Shares Statistics:
Over the past 3-months, RGTI traded about 5.60M shares per day on average, while over the past 10 days, RGTI traded about 10.86M shares per day. A total of 125.26M shares are outstanding, with a floating share count of 99.61M. Insiders hold about 32.08% of the company’s shares, while institutions hold 19.40% stake in the company. Shares short for RGTI as of Feb 29, 2024 were 13.53M with a Short Ratio of 2.41, compared to 10.85M on Jan 31, 2024. Therefore, it implies a Short% of Shares Outstanding of 9.23% and a Short% of Float of 10.93%.
Earnings Estimates
Current recommendations for the stock of the company come from 2 analysts. On average, analysts expect EPS of -$0.13 for the current quarter, with a high estimate of -$0.13 and a low estimate of -$0.13, while EPS last year was -$0.14. The consensus estimate for the next quarter is -$0.13, with high estimates of -$0.13 and low estimates of -$0.14.
Analysts are recommending an EPS of between -$0.36 and -$0.62 for the fiscal current year, implying an average EPS of -$0.53. EPS for the following year is -$0.45, with 3 analysts recommending between -$0.32 and -$0.53.
Revenue Estimates
2 analysts predict $3.25M in revenue for the current quarter. It ranges from a high estimate of $3.5M to a low estimate of $3M. As of the current estimate, Rigetti Computing Inc’s year-ago sales were $6.06M, an estimated decrease of -46.40% from the year-ago figure. For the next quarter, 2 analysts are estimating revenue of $3.1M, a decrease of -36.10% over than the figure of -$46.40% in the same quarter last year. There is a high estimate of $3.2M for the next quarter, whereas the lowest estimate is $3M.
A total of 3 analysts have provided revenue estimates for RGTI’s current fiscal year. The highest revenue estimate was $12.1M, while the lowest revenue estimate was $11.6M, resulting in an average revenue estimate of $11.9M. In the same quarter a year ago, actual revenue was $13.1M, down -9.20% from the average estimate. Based on 3 analysts’ estimates, the company’s revenue will be $16.67M in the next fiscal year. The high estimate is $18M and the low estimate is $15M. The average revenue growth estimate for next year is up 40.10% from the average revenue estimate for this year.
