Rigetti Computing (RGTI) Shares Climb Mid-Morning: Quantum Stock Sees Volatile Gains
NEW YORK, NY – Shares of Rigetti Computing, Inc. (NASDAQ: RGTI) showed positive momentum in mid-morning trading, attracting investor attention in the dynamic quantum computing sector. As of approximately 11:26 AM EDT, the stock was trading at
7.93∗∗,markinganincreaseof∗∗0.21, or 2.72%, for the session.
The move comes amidst noticeable intraday volatility, a characteristic often associated with emerging technology stocks. The provided 1-day chart reveals price fluctuations throughout the morning after the market opened. Rigetti’s stock price navigated a range between $7.74 and $8.24 during the session so far. This activity follows a previous closing price of $7.72, with the stock opening slightly higher today at $7.98.
Rigetti, a key player focused on hybrid quantum-classical computing systems, continues to be closely watched. Today’s price action occurs within a much wider 52-week range of $0.66 to $21.42, highlighting the significant price swings the stock has experienced over the past year. Its Beta (5Y Monthly) stands at 1.42, suggesting a higher level of volatility compared to the overall market.
From a data perspective, the company holds an intraday market capitalization of approximately $2.278 billion. Trading volume as of mid-morning was just over 16 million shares, compared to an average volume of roughly 96.7 million shares, indicating activity levels relative to its norm.
While the company currently shows a negative EPS (TTM) of -$1.09 and therefore does not have a trailing PE ratio, analyst sentiment points towards future optimism. The 1-year target estimate is pegged at $15.00, substantially higher than its current trading level. The company recently passed through its typical earnings reporting window.
