Rigetti Computing Inc (NASDAQ:RGTI) shares, rose in value, with the stock price down by -3.42% to the previous day’s close as strong demand from buyers drove the stock to $1.41.
Actively observing the price movement in the last trading, the stock closed the session at $1.46, falling within a range of $1.32 and $1.505. The value of beta (5-year monthly) was 2.283. Referring to stock’s 52-week performance, its high was $2.36, and the low was $0.66. On the whole, RGTI has fluctuated by 87.25% over the past month.
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With the market capitalization of Rigetti Computing Inc currently standing at about $269.66 million, investors are eagerly awaiting this quarter’s results, scheduled for on 2024-Nov-12.
Projections by analysts suggest varying estimates for the company’s quarterly revenue. Analysts have estimated the company’s revenue for the quarter at 13.18M, with a low estimate of 3M and a high estimate of 3.5M. Wall Street analysts also predicted that the company’s y-o-y revenues would reach 3.33M.
Technical indicators serve as essential tools for traders, offering insights into market sentiment and potential price movements. We see that RGTI’s technical picture suggests that short-term indicators denote the stock is a 50% Buy on average. However, medium-term indicators have put the stock in the category of 50% Sell while long-term indicators on average have been pointing out that it is a 50% Buy.
The stock’s technical analysis shows that the price of RGTI currently trading nearly 37.04% and 55.78% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 72.95, while the 7-day volatility ratio is showing 16.53% which for the 30-day chart, stands at 11.90%. Furthermore, Rigetti Computing Inc (RGTI)’s beta value is 2.31, and its average true range (ATR) is 0.14.
A comparison of Rigetti Computing Inc (RGTI) with its peers suggests the former has fared considerably weaker in the market. RGTI showed an intraday change of -3.42% in last session, and over the past year, it grew by 30.56%%.
Data on historical trading for Rigetti Computing Inc (NASDAQ:RGTI) indicates that the trading volumes over the past 10 days have averaged 10.56 and over the past 3 months, they’ve averaged 4.32 million. According to company’s latest data on outstanding shares, there are 191.24 million shares outstanding.
Nearly 18.88% of Rigetti Computing Inc’s shares belong to company insiders and institutional investors own 23.36% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 27.45 million shares as on 2024-10-15, resulting in a short ratio of 10.94. According to the data, the short interest in Rigetti Computing Inc (RGTI) stood at 1641.00 of shares outstanding as of 2024-10-15; the number of short shares registered in 2024-09-13 reached 27.98 million. The stock has risen by 43.16% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the RGTI stock heading into the next quarter.
