Rigetti Computing Inc (NASDAQ:RGTI) price on Thursday, March 20, fall -9.24% below its previous day’s close as a downside momentum from buyers pushed the stock’s value to $8.99.
A look at the stock’s price movement, the close in the last trading session was $9.90, moving within a range at $8.68 and $9.835. The beta value (5-Year monthly) was 1.37. Turning to its 52-week performance, $21.42 and $0.66 were the 52-week high and 52-week low respectively. Overall, RGTI moved -18.50% over the past month.
Rigetti Computing Inc’s market cap currently stands at around $2.57 billion, with investors looking forward to this quarter’s earnings report slated for on 2025-Mar-04.
Analysts have a consensus estimate of 2.55M for the company’s revenue for the quarter, with a low and high estimate of 2.46M and 2.75M respectively. The average forecast suggests down to a -16.43% growth in sales growth compared to quarterly growth in the same period last fiscal year. Wall Street analysts have also projected the company’s year-on-year revenue to grow to 14M, representing a 29.71% jump on that reported in the last financial year.
Turning to the stock’s technical picture we see that short term indicators suggest on average that RGTI is a Hold. On the other hand, the stock is on average a 50% Buy as suggested by medium term indicators while long term indicators are putting the stock in 100% Buy category.
3 analyst(s) have given their forecast ratings for the stock on a scale of 1.00-5.00 for a strong buy to strong sell recommendation. A total of 0 analyst(s) rate the stock as a Hold, 3 recommend RGTI as a Buy and 0 give it an Overweight rating. Meanwhile, 0 analyst(s) rate the stock as Underweight and 0 say it is a Sell. As such, the average rating for the stock is Buy which could provide an opportunity for investors keen on increasing their holdings of the company’s stock.
RGTI’s current price about -1.46% and -17.43% off the 20-day and 50-day simple moving averages respectively. The Relative Strength Index (RSI, 14) currently prints 45.54, while 7-day volatility ratio is 14.14% and 14.16% in the 30-day chart. Further, Rigetti Computing Inc (RGTI) has a beta value of 1.30, and an average true range (ATR) of 1.36. Analysts have given the company’s stock an average 52-week price target of $3, forecast between a low of $2 and high of $4. Looking at the price targets, the low is 77.75% off current price level while to achieve the yearly target high, price needs to move 55.51%. Nonetheless, investors will most likely welcome a 66.63% jump to $3 which is the analysts’ median price.
If we refocus on Rigetti Computing Inc (NASDAQ:RGTI), historical trading data shows that trading volumes averaged 72.2 over the past 10 days and 128.45 million over the past 3 months. The company’s latest data on shares outstanding shows there are 283.55 million shares.
The 4.77% of Rigetti Computing Inc’s shares are in the hands of company insiders while institutional holders own 24.01% of the company’s shares. Also important is the data on short interest which shows that short shares stood at 61.02 million on 2025-02-28, giving us a short ratio of 0.69. The data shows that as of 2025-02-28 short interest in Rigetti Computing Inc (RGTI) stood at 2350.0 of shares outstanding, with shares short rising to 56.82 million registered in 2025-01-31. Current price change has pushed the stock -41.09% YTD, which shows the potential for further growth is there. It is this reason that could see investor optimism for the RGTI stock continues to rise going into the next quarter.
