Rigetti Computing, Inc. (NASDAQ:RGTI – Get Free Report) shares dropped 7.4% during trading on Friday . The stock traded as low as $17.55 and last traded at $17.85. Approximately 26,915,072 shares changed hands during trading, a decline of 10% from the average daily volume of 29,994,316 shares. The stock had previously closed at $19.27.
Key Rigetti Computing News
Here are the key news stories impacting Rigetti Computing this week:
- Positive Sentiment: Rigetti’s Q1 revenue jumped 199% year over year, showing strong demand for its quantum systems and cloud-based platform. Rigetti Q1 Revenue Surge Signals Rising Quantum Demand Trends
- Positive Sentiment: Several recent pieces highlighted bullish technical setup and analyst interest, with some viewing RGTI as a strong or “bullish” name among quantum stocks. Rigetti Computing (RGTI) Price Forecast: Quantum Stock Near Critical Breakout Level
- Neutral Sentiment: Rigetti will participate in a fireside chat at Canaccord Genuity’s Virtual Quantum Symposium next week, which keeps the stock in the spotlight but does not change fundamentals by itself. Rigetti Computing to Participate in Fireside Chat at Canaccord Genuity Virtual Quantum Symposium
- Negative Sentiment: Analysts trimmed FY2026 EPS estimates, signaling that losses may be slightly worse than previously expected. Rigetti Computing stock and analyst estimate update
- Negative Sentiment: Bearish commentary warned that revenue remains highly concentrated and that meaningful quantum advantage may still be at least three years away, raising concerns about execution and the path to sustainable growth. Rigetti: 3 Long Years Ahead
- Negative Sentiment: The broader quantum-computing sector sold off sharply Friday, with Rigetti falling alongside peers as investors took profits and cooled on the group. Quantum Computing Stock Shock: IonQ, Rigetti, D-Wave, and Quantum Computing Inc. Fall 6% to 9%
Wall Street Analysts Forecast Growth
RGTI has been the topic of several recent research reports. Mizuho cut their target price on Rigetti Computing from $33.00 to $27.00 and set an “outperform” rating on the stock in a report on Tuesday. Northland Securities began coverage on Rigetti Computing in a report on Monday, April 20th. They set a “market perform” rating and a $20.00 target price on the stock. TD Cowen lowered Rigetti Computing from a “buy” rating to a “hold” rating in a research report on Thursday, February 12th. Wall Street Zen lowered Rigetti Computing from a “hold” rating to a “sell” rating in a research report on Sunday, April 26th. Finally, B. Riley Financial raised Rigetti Computing from a “neutral” rating to a “buy” rating and set a $35.00 price objective for the company in a research report on Thursday, January 22nd. Eight investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Rigetti Computing currently has an average rating of “Moderate Buy” and an average target price of $29.18.
Rigetti Computing Trading Down 7.4%
The company has a 50-day moving average price of $16.57 and a two-hundred day moving average price of $21.64. The stock has a market capitalization of $5.93 billion, a P/E ratio of -20.52 and a beta of 1.79.
Rigetti Computing (NASDAQ:RGTI – Get Free Report) last posted its quarterly earnings data on Monday, May 11th. The company reported ($0.04) earnings per share for the quarter, topping the consensus estimate of ($0.05) by $0.01. Rigetti Computing had a negative return on equity of 10.40% and a negative net margin of 2,789.71%.The firm had revenue of $4.40 million during the quarter, compared to analyst estimates of $4.09 million. During the same period last year, the company posted ($0.05) EPS. The business’s quarterly revenue was up 198.9% on a year-over-year basis. Research analysts forecast that Rigetti Computing, Inc. will post -0.19 earnings per share for the current year.
Insider Transactions at Rigetti Computing
In related news, CFO Jeffrey A. Bertelsen sold 4,270 shares of the business’s stock in a transaction dated Tuesday, March 10th. The stock was sold at an average price of $17.52, for a total value of $74,810.40. Following the completion of the sale, the chief financial officer directly owned 175,609 shares of the company’s stock, valued at $3,076,669.68. The trade was a 2.37% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CTO David Rivas sold 36,719 shares of the business’s stock in a transaction dated Tuesday, March 10th. The shares were sold at an average price of $17.52, for a total value of $643,316.88. Following the completion of the sale, the chief technology officer directly owned 651,914 shares of the company’s stock, valued at $11,421,533.28. The trade was a 5.33% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 1.60% of the company’s stock.
Institutional Trading of Rigetti Computing
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Heritage Wealth Advisors increased its position in Rigetti Computing by 454.3% in the 4th quarter. Heritage Wealth Advisors now owns 1,164 shares of the company’s stock valued at $26,000 after buying an additional 954 shares in the last quarter. Larson Financial Group LLC increased its position in Rigetti Computing by 138.4% in the 4th quarter. Larson Financial Group LLC now owns 1,218 shares of the company’s stock valued at $27,000 after buying an additional 707 shares in the last quarter. PeakShares LLC bought a new stake in Rigetti Computing in the 1st quarter valued at about $28,000. EFG International AG bought a new stake in Rigetti Computing in the 4th quarter valued at about $28,000. Finally, Tsfg LLC increased its position in Rigetti Computing by 320.5% in the 4th quarter. Tsfg LLC now owns 1,312 shares of the company’s stock valued at $29,000 after buying an additional 1,000 shares in the last quarter. 35.38% of the stock is owned by institutional investors.
Rigetti Computing Company Profile
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.
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