Rigetti Computing (NASDAQ:RGTI - Get Free Report) issued its quarterly earnings data on Wednesday. The company reported ($0.08) earnings per share for the quarter, meeting analysts' consensus estimates of ($0.08), Zacks reports. The firm had revenue of $2.27 million during the quarter, compared to analyst estimates of $2.40 million. Rigetti Computing had a negative return on equity of 51.56% and a negative net margin of 509.58%. During the same quarter last year, the business posted ($0.04) earnings per share.
Rigetti Computing Trading Up 9.9 %
RGTI traded up $0.84 on Friday, hitting $9.35. The company had a trading volume of 74,469,316 shares, compared to its average volume of 44,392,554. The company has a market cap of $1.80 billion, a PE ratio of -24.60 and a beta of 1.36. Rigetti Computing has a 12-month low of $0.66 and a 12-month high of $21.42. The company has a quick ratio of 4.84, a current ratio of 4.84 and a debt-to-equity ratio of 0.02. The business's fifty day simple moving average is $12.09 and its 200 day simple moving average is $5.79.
Wall Street Analysts Forecast Growth
RGTI has been the subject of a number of research analyst reports. Needham & Company LLC restated a "buy" rating and set a $17.00 price objective on shares of Rigetti Computing in a research report on Thursday. Craig Hallum initiated coverage on Rigetti Computing in a research report on Friday, December 20th. They set a "buy" rating and a $12.00 price objective for the company. Benchmark restated a "buy" rating and set a $14.00 price objective on shares of Rigetti Computing in a research report on Thursday. Finally, B. Riley lifted their price target on Rigetti Computing from $8.50 to $15.00 and gave the stock a "buy" rating in a research report on Friday, February 14th.
Get Our Latest Report on Rigetti Computing
Insider Buying and Selling
In other Rigetti Computing news, Director Michael S. Clifton sold 125,000 shares of the business's stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $5.03, for a total transaction of $628,750.00. Following the completion of the transaction, the director now owns 1,063,864 shares in the company, valued at $5,351,235.92. The trade was a 10.51 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 2.81% of the stock is currently owned by company insiders.
About Rigetti Computing
(
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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.
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