Rigetti Computing (RGTI) Stock Price, News & Analysis

Company Overview

Rigetti Computing, Inc., through its subsidiaries, builds quantum computers and the superconducting quantum processors. The company offers cloud in a form of quantum processing unit, such as 9-qubit chip and Ankaa-2 system under the Novera brand name; and sells access to its quantum computers through quantum computing as a service. It also provides quantum cloud services that provides various range of support in programming, public or private clouds integration, and connectivity, as well as quantum operating system software that supports both public and private cloud architectures. In addition, the company offers professional services, such as algorithm development, benchmarking, quantum application programming, and software development. The company serves commercial enterprises, government organizations, and international government entities. It has operations in the United States and the United Kingdom. Rigetti Computing, Inc. was founded in 2013 and is headquartered in Berkeley, California.

Key Stats

• Today's Range: $1.38 to $1.61
• 50-Day Range: $0.69 to $1.70
• 52-Week Range: $1.13 to $1.89
• Volume: 15.61 million shs
• Average Volume: 12.02 million shs
• Market Capitalization: $269.65 million
• P/E Ratio: N/A
• Dividend Yield: N/A
• Price Target: $2.88
• Consensus Rating: Buy

Rigetti Computing Stock Analysis - MarketRank™

Rigetti Computing scored higher than 55% of companies evaluated by MarketBeat, and ranked 401st out of 659 stocks in the computer and technology sector. Scores are calculated by averaging available category scores, with extra weight given to analysis and valuation.

Analyst's Opinion

• Score: 3.5 / 5
• Analyst Rating: Buy

Consensus Rating

Rigetti Computing has received a consensus rating of Buy. The company's average rating score is 3.00, and is based on 4 buy ratings, no hold ratings, and no sell ratings.

Amount of Analyst Coverage

Rigetti Computing has only been the subject of 3 research reports in the past 90 days.

Earnings and Valuation

• Score: 0.6 / 5
• Proj. Earnings Growth: Growing

Earnings Growth

Earnings for Rigetti Computing are expected to grow in the coming year, from ($0.34) to ($0.25) per share.

Price to Book Value per Share Ratio

Rigetti Computing has a P/B Ratio of 2.20. P/B Ratios below 3 indicates that a company is reasonably valued with respect to its assets and liabilities.

Short Interest

• Score: 3.0 / 5
• Short Interest Level: Healthy

Percentage of Shares Shorted

16.55% of the float of Rigetti Computing has been sold short.

Short Interest Ratio / Days to Cover

Rigetti Computing has a short interest ratio ("days to cover") of 5.3.

Change versus previous month

Short interest in Rigetti Computing has recently decreased by 6.48%, indicating that investor sentiment is improving significantly.

Dividend

• Score: 0.0 / 5
• Dividend Strength: N/A

Dividend Yield

Rigetti Computing does not currently pay a dividend.

Dividend Growth

Rigetti Computing does not have a long track record of dividend growth.

Sustainability and ESG

• Score: N/A
• Environmental Score: N/A

Percentage of Shares Shorted

16.55% of the float of Rigetti Computing has been sold short.

Short Interest Ratio / Days to Cover

Rigetti Computing has a short interest ratio ("days to cover") of 5.3.

Change versus previous month

Short interest in Rigetti Computing has recently decreased by 6.48%, indicating that investor sentiment is improving significantly.

News and Social Media

• Score: 3.0 / 5
• News Sentiment: 0.41

News Sentiment

Rigetti Computing has a news sentiment score of 0.41. This score is calculated as an average of sentiment of articles about the company over the last seven days and ranges from 2 (good news) to -2 (bad news). This is a lower news sentiment than the 0.60 average news sentiment score of Computer and Technology companies.

News Coverage This Week

MarketBeat has tracked 20 news articles for Rigetti Computing this week, compared to 3 articles on an average week.

Search Interest

34 people have searched for RGTI on MarketBeat in the last 30 days. This is an increase of 325% compared to the previous 30 days.

MarketBeat Follows

19 people have added Rigetti Computing to their MarketBeat watchlist in the last 30 days. This is an increase of 850% compared to the previous 30 days.

Company Ownership

• Score: 0.8 / 5
• Insider Trading: Selling Shares

Insider Buying vs. Insider Selling

In the past three months, Rigetti Computing insiders have sold more of their company's stock than they have bought. Specifically, they have bought $0.00 in company stock and sold $3,075,424.00 in company stock.

Percentage Held by Insiders

Only 2.81% of the stock of Rigetti Computing is held by insiders.

RGTI Stock Analysis - Frequently Asked Questions

How have RGTI shares performed this year?

Rigetti Computing's stock was trading at $0.9849 at the start of the year. Since then, RGTI stock has increased by 43.2% and is now trading at $1.41.
View the best growth stocks for 2024 here.

How were Rigetti Computing's earnings last quarter?

Rigetti Computing, Inc. (NASDAQ:RGTI) issued its quarterly earnings data on Thursday, August, 8th. The company reported ($0.07) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.10) by $0.03. The business had revenue of $3.09 million for the quarter, compared to analyst estimates of $3.53 million. Rigetti Computing had a negative trailing twelve-month return on equity of 51.56% and a negative net margin of 509.58%.

Who are Rigetti Computing's major shareholders?

Top institutional investors of Rigetti Computing include American Assets Investment Management LLC (4.23%), Penserra Capital Management LLC (2.38%), Geode Capital Management LLC (1.89%) and State Street Corp (1.42%). Insiders that own company stock include Bessemer Venture Partners X L, Chad Rigetti, David Rivas, Richard Danis, Mike Harburn, Helene Gail Sandford and Alissa Fitzgerald.
View institutional ownership trends.

How do I buy shares of Rigetti Computing?

Shares of RGTI stock can be purchased through any online brokerage account. Popular online brokerages with access to the U.S. stock market include Charles Schwab, E*TRADE, Fidelity, and Vanguard Brokerage Services.
Compare Top Brokerages Here.

What other stocks do shareholders of Rigetti Computing own?

Based on aggregate information from My MarketBeat watchlists, some other companies that Rigetti Computing investors own include Scilex (SCLX), Pfizer (PFE), Barrick Gold (GOLD), BioNTech (BNTX), Butterfly Network (BFLY), Nikola (NKLA) and Pangaea Logistics Solutions (PANL).

Company Calendar

• Last Earnings: 8/08/2024
• Today: 11/17/2024
• Fiscal Year End: 12/31/2024

Industry, Sector and Symbol

• Stock Exchange: NASDAQ
• Sector: Computer and Technology
• Industry: N/A
• Sub-Industry: Trading
• Current Symbol: NASDAQ:RGTI
• CUSIP: N/A
• CIK: 1838359
• Web: www.offerpad.com
• Phone: 510-210-5550
• Fax: N/A
• Employees: 160
• Year Founded: N/A

Price Target and Rating

• Average Stock Price Target: $2.88
• High Stock Price Target: $3.50
• Low Stock Price Target: $2.00
• Potential Upside/Downside: +103.9%
• Consensus Rating: Buy
• Rating Score (0-4): 3.00
• Research Coverage: 4 Analysts

Profitability

• EPS (Most Recent Fiscal Year): N/A
• Trailing P/E Ratio: N/A
• Forward P/E Ratio: N/A
• P/E Growth: N/A
• Net Income: N/A
• Net Margins: -509.58%
• Pretax Margin: -509.58%
• Return on Equity: -51.56%
• Return on Assets: -37.78%

Debt

• Debt-to-Equity Ratio: 0.02
• Current Ratio: 4.84
• Quick Ratio: N/A

Sales & Book Value

• Annual Sales: $12.01 million
• Price / Sales: 22.45
• Cash Flow: N/A
• Price / Cash Flow: N/A
• Book Value: $0.64 per share
• Price / Book: 2.20

Miscellaneous

• Outstanding Shares: 191,240,000
• Free Float: 185,869,000
• Market Cap: $269.65 million
• Optionable: Optionable
• Beta: 2.13