Analyst Expect Big Moves From Rigetti Computing Inc (NASDAQ: RGTI)

Currently, there are 125.26M common shares owned by the public and among those 99.20M shares have been available to trade.

Insiders at the company have transacted a total of 25 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 11 of these insider trades were purchases, accounting for 1,655,650 shares. Insider sales of the common stock occurred on 14 occasions, with total insider shares sold totaling 448,355 shares.

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However, the script later moved the day high at 1.5300, up 11.20%. The company’s stock has a 5-day price change of 17.80% and 32.38% over the past three months. RGTI shares are trading 41.13% year to date (YTD), with the 12-month market performance up to 31.13% higher. It has a 12-month low price of $0.36 and touched a high of $3.43 over the same period. RGTI has an average intraday trading volume of 5.49 shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 23.29%, 28.64%, and 6.36% respectively.

Institutional ownership of Rigetti Computing Inc (NASDAQ: RGTI) shares accounts for 18.82% of the company’s 125.26M shares outstanding.

It has a market capitalization of $203.84M and a beta (3y monthly) value of 2.27. The earnings-per-share (ttm) stands at -$0.67. Price movements for the stock have been influenced by the stock’s volatility, which stands at 10.84% over the week and 10.41% over the month.

Analysts forecast that Rigetti Computing Inc (RGTI) will achieve an EPS of -$0.13 for the current quarter, -$0.13 for the next quarter and -$0.45 for 2024. The lowest estimate earnings-per-share for the quarter is -$0.13 while analysts give the company a high EPS estimate of -$0.13. Comparatively, EPS for the current quarter was -$0.14 a year ago. Earnings per share for the fiscal year are expected to increase by 39.05%, and 18.75% over the next financial year.

Looking at the support for the RGTI, a number of firms have released research notes about the stock. The Benchmark Company stated their Buy rating for the stock in a research note on August 11, 2023, with the firm’s price target at $4.

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