Rigetti Computing (NASDAQ:RGTI) Trading Down 1.5% – Here’s Why

Rigetti Computing, Inc. (NASDAQ:RGTI) dropped 1.5% during trading on Thursday . The stock traded as low as $16.06 and last traded at $16.53. 21,927,827 shares were traded during mid-day trading, a decline of 34% from the average session volume of 33,351,246 shares. The stock had previously closed at $16.78.

Rigetti Computing News Summary

Here are the key news stories impacting Rigetti Computing this week:

• Positive Sentiment: Commercial momentum is improving. Second-quarter revenue rose 185.3% year over year to approximately $5.14 million, slightly exceeding consensus expectations. Wedbush said shipments of Rigetti’s Novera quantum systems are driving a more commercial revenue mix, while other coverage highlighted major quantum-computing orders. Rigetti Computing Q2 Shows Commercial Mix Inflection Rigetti Stock Rises as Major Quantum Orders Fuel Growth
• Positive Sentiment: Analyst support added to the bullish case. Rosenblatt Securities reaffirmed its “buy” rating and maintained a $40 price target, implying substantial upside from the stock’s recent level. Broader investor interest in quantum-computing stocks is also being supported by expectations for progress toward a potential “quantum advantage” milestone in 2026. Rosenblatt Rating Update Quantum Computing Stocks With Analyst Upside
• Positive Sentiment: Rigetti reported technology and strategic progress. The company cited improving quantum performance, continued development of its technology roadmap, partnerships including Hewlett Packard Enterprise, and potential U.S. government research support of up to $100 million. It ended June with approximately $541.3 million in cash and no debt, providing financial flexibility. Rigetti Computing Reports Second Quarter Results

Wall Street Analyst Weigh In

Several research firms have issued reports on RGTI. Wall Street Zen downgraded shares of Rigetti Computing from a “hold” rating to a “sell” rating in a research note on Saturday. Jefferies Financial Group reissued a “hold” rating and issued a $18.00 target price on shares of Rigetti Computing in a research note on Friday. Mizuho reduced their target price on shares of Rigetti Computing from $33.00 to $27.00 and set an “outperform” rating on the stock in a report on Tuesday, May 12th. Needham & Company LLC reaffirmed a “buy” rating and set a $31.00 price target on shares of Rigetti Computing in a research report on Tuesday, May 12th. Finally, Benchmark initiated coverage on Rigetti Computing in a report on Monday, July 27th. They issued a “buy” rating and a $25.00 price target for the company. Seven equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $30.67.

Rigetti Computing Stock Performance

The stock’s fifty day moving average is $18.28 and its two-hundred day moving average is $18.06. The firm has a market capitalization of $5.96 billion, a price-to-earnings ratio of -19.93 and a beta of 1.99.

Rigetti Computing (NASDAQ:RGTI) last issued its quarterly earnings data on Thursday, August 6th. The company reported ($0.05) EPS for the quarter, hitting analysts’ consensus estimates of ($0.05). Rigetti Computing had a negative net margin of 2,189.54% and a negative return on equity of 17.82%. The firm had revenue of $5.14 million for the quarter, compared to analyst estimates of $5.09 million. Sell-side analysts anticipate that Rigetti Computing, Inc. will post -0.22 earnings per share for the current year.

Insider Transactions at Rigetti Computing

In other Rigetti Computing news, CTO David Rivas sold 499,328 shares of the firm’s stock in a transaction that occurred on Friday, May 29th. The stock was sold at an average price of $25.40, for a total transaction of $12,682,931.20. Following the completion of the sale, the chief technology officer owned 325,945 shares in the company, valued at $8,279,003. This trade represents a 60.50% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Ray O. Johnson sold 84,944 shares of the firm’s stock in a transaction that occurred on Monday, June 22nd. The shares were sold at an average price of $20.55, for a total value of $1,745,599.20. Following the sale, the director owned 95,537 shares of the company’s stock, valued at approximately $1,963,285.35. This trade represents a 47.07% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 728,901 shares of company stock valued at $17,546,343. 1.60% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Rigetti Computing

Several institutional investors and hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. increased its position in shares of Rigetti Computing by 12.2% in the 4th quarter. Vanguard Group Inc. now owns 35,970,648 shares of the company’s stock worth $796,750,000 after purchasing an additional 3,924,171 shares during the last quarter. Victory Capital Management Inc. lifted its position in shares of Rigetti Computing by 1,632.5% during the fourth quarter. Victory Capital Management Inc. now owns 2,571,289 shares of the company’s stock worth $56,954,000 after purchasing an additional 2,422,873 shares during the last quarter. Ameriprise Financial Inc. bought a new position in shares of Rigetti Computing during the second quarter worth about $21,887,000. Norges Bank bought a new position in shares of Rigetti Computing during the fourth quarter worth about $38,889,000. Finally, Defiance ETFs LLC acquired a new position in Rigetti Computing in the fourth quarter worth about $34,267,000. 35.38% of the stock is currently owned by hedge funds and other institutional investors.

About Rigetti Computing

Rigetti Computing is a pioneering quantum computing company that designs and manufactures superconducting quantum processors alongside a complementary software stack. Founded in 2013 by CEO Chad Rigetti, the company has developed end-to-end quantum systems—from cryogenic hardware to control electronics—to advance the performance and scalability of quantum machines.

At the core of Rigetti’s offering is its Quantum Cloud Services (QCS) platform, which enables developers and enterprises to access quantum processing units (QPUs) and hybrid quantum-classical workflows via the cloud.