Rigetti Computing (RGTI) to Release Quarterly Earnings on Thursday

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

Rigetti Computing (NASDAQ:RGTI) last issued its quarterly earnings results on Thursday, March 14th. The company reported ($0.09) earnings per share (EPS) for the quarter. The company had revenue of $3.38 million during 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 Stock Down 7.2 %

Shares of RGTI opened at $1.29 on Wednesday. The company has a market cap of $204.96 million, a PE ratio of -2.22 and a beta of 2.45. The business has a fifty day moving average of $1.53 and a 200 day moving average of $1.28. Rigetti Computing has a 52-week low of $0.40 and a 52-week high of $3.43. The company has a quick ratio of 3.71, a current ratio of 3.71 and a debt-to-equity ratio of 0.09.

Analyst Upgrades and Downgrades

RGTI has been the subject of a number of analyst reports. Needham & Company LLC restated a “buy” rating and issued a $3.00 price target on shares of Rigetti Computing in a research report on Friday, March 15th. Alliance Global Partners initiated coverage on Rigetti Computing in a research report on Friday, March 1st. They issued a “buy” rating and a $3.50 price target for the company.

Insiders Place Their Bets

In other Rigetti Computing news, General Counsel Richard Danis sold 46,326 shares of the stock in a transaction 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 owns 1,052,141 shares in the company, valued at $2,072,717.77. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders have sold a total of 75,599 shares of company stock worth $142,830 over the last quarter. Company insiders own 2.60% of the company’s stock.

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.