BlackRock Fund Advisors has recently announced that it has increased stake in Rigetti Computing Inc. (NASDAQ:RGTI) by 6.60%. After grabbing 4.34 million shares, the institutional investor is now in possession of 0.27 million shares of the Technology Company. The new investment brought the stake of investor firm to 3.37% having worth around $2.04 million. Moreover, The Vanguard Group, Inc. increased its share by 10773.0 to have a control over 4.33 million shares. And Geode Capital Management LLC raised its holdings to 25721.0 shares by acquiring 1.46 million shares or 1.14% of the stake.
Rigetti Computing Inc. (RGTI) concluded trading on 05/24/23 at a closing price of $0.77, with 5.46 million shares of worth about $4.21 million changed hands on the day. Half year performance of the stock remained negative as price took a plunge of -44.60% during that period and on Wednesday the price saw a gain of about 4.35%. Currently the company’s common shares owned by public are about 129.82M shares, out of which, 115.41M shares are available for trading.
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A deeper look into what the analysts at Wall Street are thinking about the price target of this stock provides us with the following: 3 analysts are covering the RGTI stock and their offered price forecasts bring an average price target of $1.00. Over the next 12 months, analysts forecasted that the stock’s price could jump as high as $1.00 and could fall to a lowest price of $1.00. The stock’s current price level is 23.0% above of average price target set by the analysts, while a rise to estimated low would result in gain of 23.0% for the stock. However, touching the estimated high of $1.00 would mean a gain of 23.0% for the stock.
Vanguard Total Stock Market ETF, Defiance Quantum ETF, and iShares Russell 2000 ETF are the top 3 mutual funds which are holding stakes in Rigetti Computing Inc. Vanguard Total Stock Market ETF is currently holding 2.95 million shares of worth totaling $1.38 million. The company recently came buying 0.0 shares which brought its stake up to 2.29% of the company’s outstanding shares. iShares Russell 2000 ETF, after selling 1.52 million shares, have now control over 1.18% of the stake in the company. It holds 22240.0 shares of worth $0.71 million.
However, the stock later moved at a day high price of 0.8383, or with a gain of 4.35%. Stock saw a price change of 44.62% in past 5 days and over the past one month there was a price change of 64.31%. Year-to-date (YTD), RGTI shares are showing a performance of 5.61% which decreased to -91.32% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $0.36 but also hit the highest price of $9.25 during that period. The average intraday trading volume for Rigetti Computing Inc. shares is 1.10 million. The stock is currently trading 56.78% above its 20-day simple moving average (SMA20), while that difference is up 45.27% for SMA50 and it goes to -46.72% lower than SMA200.
BlackRock Fund Advisors acquired 4.34 million shares of Rigetti Computing Inc. having value of about $2.04 million. Data submitted at the U.S SEC by BlackRock Fund Advisors revealed that the firm now holds 0.27 million shares in the company valued at close to $206724.98, or have control over 6.60% stake in the company. Rigetti Computing Inc. (NASDAQ: RGTI) currently have 129.82M outstanding shares and institutions hold larger chunk of about 45.80% of that. Holding of mutual funds in the company is about 6.86% while other institutional holders and individual stake holders have control over 8.68% and 28.37% of the stake respectively.
The stock has a current market capitalization of $114.22M. It has posted earnings per share of -$0.53 in the same period. It has Quick Ratio of 5.70. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for RGTI, volatility over the week remained 25.65% while standing at 14.93% over the month.
Analysts are in expectations that Rigetti Computing Inc. (RGTI) stock would likely to be making an EPS of -$0.17 in the current quarter, while forecast for next quarter EPS is -$0.16 and it is -$0.58 for next year. For the current quarter EPS, analysts have given the company a lowest target -$0.21 which is -$0.13 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of -$0.14 in the same quarter a year ago. Stock’s fiscal year EPS is expected to drop by -46.40% while it is estimated to decrease by -6.00% in next year.
Analysts at 3 brokerage firms have issued recommendations for the Rigetti Computing Inc. (RGTI)’s stock and average of those rates the stock at a “Moderate Buy” and assign it a score of 2.50. Out of those 3 Wall Street analysts, 2 recommended a “Buy” rating, while 1 were in favor recommending the stock as a “Hold” and 0 analyst recommended the stock as “Sell”.
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