RGTI Stock Summary and Trading Ideas (Rigetti Computing | NASDAQ:RGTI)

Rigetti Computing Inc is engaged in the business of full-stack quantum computing. Its proprietary quantum-classical infrastructure provides ultra-low latency integration with public and private clouds for high-performance practical quantum computing. The company has developed the industry's first multi-chip quantum processor for scalable quantum computing systems. Geographically, it derives a majority of its revenue from the United States.

Rigetti Computing trades on the NASDAQ stock market under the symbol RGTI.

As of January 6, 2025, RGTI stock price climbed to $20.05 with 116,892,823 million shares trading.

RGTI has a beta of 2.28, meaning it tends to be more sensitive to market movements. RGTI has a correlation of 0.05 to the broad based SPY ETF.

RGTI has a market cap of $5.61 billion. This is considered a Mid Cap stock.

Last quarter Rigetti Computing reported $2 million in Revenue and -$.08 earnings per share. This fell short of revenue expectation by $-952,000 and exceeded earnings estimates by $.01.

The top ETF exchange traded funds that RGTI belongs to (by Net Assets): IWM, QTUM, IWN, XSD, SCHA.

RGTI has outperformed the market in the last year with a price return of +1969.6% while the SPY ETF gained +28.4%. RGTI has also outperformed the stock market ETF in the last 3 month and 2 week periods returning +2580.5% and +114.0%, respectively, while the SPY returned +5.1% and +0.7%, respectively.

RGTI support price is $15.68 and resistance is $22.36 (based on 1 day standard deviation move). This means that using the most recent 20 day stock volatility and applying a one standard deviation move around the stock's closing price, stastically there is a 67% probability that RGTI shares will trade within this expected range on the day.