Rigetti Computing (RGTI) to Release Quarterly Earnings on Thursday

Rigetti Computing (NASDAQ:RGTI) is scheduled to release its earnings data after the market closes on Thursday, May 9th. Analysts expect Rigetti Computing to post earnings of ($0.08) per share for the quarter. Persons interested in listening to the company’s earnings conference call can do so using this link.

Rigetti Computing (NASDAQ:RGTI) last released its quarterly earnings results on Thursday, March 14th. The company reported ($0.09) EPS for the quarter. The firm had revenue of $3.38 million for the quarter. Rigetti Computing had a negative return on equity of 59.51% and a negative net margin of 625.42%. On average, analysts expect Rigetti Computing to post $0 EPS for the current fiscal year and $0 EPS for the next fiscal year.

Rigetti Computing Trading Down 7.2 %

RGTI opened at $1.29 on Wednesday. The firm has a market cap of $204.96 million, a price-to-earnings ratio of -2.22 and a beta of 2.45. Rigetti Computing has a 52 week low of $0.40 and a 52 week high of $3.43. The business’s 50 day moving average is $1.53 and its two-hundred day moving average is $1.28. The company has a quick ratio of 3.71, a current ratio of 3.71 and a debt-to-equity ratio of 0.09.

Insider Buying and Selling at Rigetti Computing

In related news, General Counsel Richard Danis sold 46,326 shares of Rigetti Computing stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $1.97, for a total value of $91,262.22. Following the sale, the general counsel now directly owns 1,052,141 shares in the company, valued at $2,072,717.77. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In the last ninety days, insiders have sold 75,599 shares of company stock worth $142,830. 2.60% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several brokerages have weighed in on RGTI. Alliance Global Partners began coverage on Rigetti Computing in a research note on Friday, March 1st. They issued a “buy” rating and a $3.50 target price on the stock. Needham & Company LLC reiterated a “buy” rating and issued a $3.00 target price on shares of Rigetti Computing in a research note on Friday, March 15th.

Rigetti Computing Company Profile

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.