Rigetti Computing Inc (NASDAQ:RGTI) shares, rose in value, with the stock price up by 1.74% to the previous day’s close as strong demand from buyers drove the stock to $1.17.
Actively observing the price movement in the last trading, the stock closed the session at $1.15. Referring to stock’s 52-week performance, its high was $3.43, and the low was $0.36. On the whole, RGTI has fluctuated by -22.52% over the past month.
Projections by analysts suggest varying estimates for the company’s quarterly revenue. Analysts have estimated the company’s revenue for the quarter at 16.1M, with a low estimate of 3M and a high estimate of 3.7M. Wall Street analysts also predicted that the company’s y-o-y revenues would reach 3.24M.
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 100% Sell on average. However, medium-term indicators have put the stock in the category of 50% Buy while long-term indicators on average have been pointing out that it is a 100% Sell.
The stock’s technical analysis shows that the PEG ratio is about 0, with the price of RGTI currently trading nearly -8.74% and -25.23% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 39.76, while the 7-day volatility ratio is showing 10.17% which for the 30-day chart, stands at 9.85%. Furthermore, Rigetti Computing Inc (RGTI)’s beta value is 2.50, 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 1.74% in last session, and over the past year, it grew by 149.63%%.
Data on historical trading for Rigetti Computing Inc (NASDAQ:RGTI) indicates that the trading volumes over the past 3 months, they’ve averaged 7.43 million. According to company’s latest data on outstanding shares, there are 147.07 million shares outstanding.
Nearly 30.31% of Rigetti Computing Inc’s shares belong to company insiders and institutional investors own 17.89% of the company’s shares. The stock has risen by 18.79% 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.
