Rigetti Computing (NASDAQ:RGTI) Shares Down 1.8% - Here's Why

Key Points

• Rigetti shares fell 1.8% to $15.60 (intraday low $15.07) on Tuesday with volume about 22% below average, trading well below its 50‑day ($18.52) and 200‑day ($25.96) moving averages, and both the CFO and CTO recently sold shares.
• Analyst coverage is mixed but leans positive—eight Buys, three Holds and one Sell—resulting in a consensus rating of Moderate Buy and a consensus target price of $31.70, amid several divergent price‑target revisions.
• Rigetti beat EPS last quarter (reported ($0.03) vs. est. ($0.05)) but revenue of $1.87M missed estimates, fell 17.9% year‑over‑year, and the company remains unprofitable with a very negative net margin.

Rigetti Computing, Inc. (NASDAQ:RGTI - Get Free Report)'s share price was down 1.8% on Tuesday . The stock traded as low as $15.07 and last traded at $15.60. Approximately 23,399,925 shares traded hands during mid-day trading, a decline of 22% from the average daily volume of 30,095,377 shares. The stock had previously closed at $15.88.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on RGTI. Wedbush lifted their price objective on Rigetti Computing from $35.00 to $40.00 and gave the company an "outperform" rating in a research note on Wednesday, January 21st. Wall Street Zen lowered Rigetti Computing from a "hold" rating to a "sell" rating in a research note on Saturday, February 21st. Benchmark lowered their price target on Rigetti Computing from $35.00 to $25.00 and set a "buy" rating on the stock in a report on Friday. Mizuho cut their price objective on Rigetti Computing from $50.00 to $43.00 and set an "outperform" rating for the company in a report on Thursday, March 5th. Finally, B. Riley Financial upgraded shares of Rigetti Computing from a "neutral" rating to a "buy" rating and set a $35.00 price objective on the stock in a research report on Thursday, January 22nd. Eight equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $31.70.

Rigetti Computing Price Performance

The stock has a market capitalization of $5.18 billion, a P/E ratio of -22.94 and a beta of 1.72. The stock has a 50 day moving average price of $18.52 and a 200-day moving average price of $25.96.

Rigetti Computing (NASDAQ:RGTI - Get Free Report) last released its earnings results on Wednesday, March 4th. The company reported ($0.03) earnings per share for the quarter, beating analysts' consensus estimates of ($0.05) by $0.02. Rigetti Computing had a negative return on equity of 14.91% and a negative net margin of 3,111.92%.The company had revenue of $1.87 million during the quarter, compared to analyst estimates of $2.33 million. The company's revenue for the quarter was down 17.9% on a year-over-year basis. Research analysts predict that Rigetti Computing, Inc. will post -0.34 earnings per share for the current fiscal year.

Insider Activity at Rigetti Computing

In other news, CFO Jeffrey A. Bertelsen sold 4,270 shares of the stock in a transaction that occurred on Tuesday, March 10th. The stock was sold at an average price of $17.52, for a total transaction of $74,810.40. Following the completion of the sale, the chief financial officer owned 175,609 shares of the company's stock, valued at approximately $3,076,669.68. This represents a 2.37% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CTO David Rivas sold 36,719 shares of the firm's stock in a transaction that occurred on Tuesday, March 10th. The stock was sold at an average price of $17.52, for a total transaction of $643,316.88. Following the completion of the transaction, the chief technology officer owned 651,914 shares in the company, valued at $11,421,533.28. This represents a 5.33% decrease in their position. The disclosure for this sale is available in the SEC filing.

Hedge Funds Weigh In On Rigetti Computing

A number of hedge funds have recently modified their holdings of the company. Osaic Holdings Inc. boosted its holdings in shares of Rigetti Computing by 119.2% during the 2nd quarter. Osaic Holdings Inc. now owns 260,307 shares of the company's stock valued at $3,087,000 after acquiring an additional 141,541 shares during the last quarter. Penserra Capital Management LLC raised its holdings in shares of Rigetti Computing by 43.8% during the third quarter. Penserra Capital Management LLC now owns 2,445,818 shares of the company's stock valued at $72,860,000 after purchasing an additional 744,577 shares during the last quarter. Swiss National Bank raised its holdings in shares of Rigetti Computing by 18.3% during the second quarter. Swiss National Bank now owns 546,100 shares of the company's stock valued at $6,477,000 after purchasing an additional 84,300 shares during the last quarter. TD Waterhouse Canada Inc. lifted its position in Rigetti Computing by 3,429.3% during the second quarter. TD Waterhouse Canada Inc. now owns 36,175 shares of the company's stock valued at $409,000 after purchasing an additional 35,150 shares during the period. Finally, Oak Harvest Investment Services lifted its position in Rigetti Computing by 436.7% during the third quarter. Oak Harvest Investment Services now owns 80,505 shares of the company's stock valued at $2,398,000 after purchasing an additional 65,505 shares during the period. Hedge funds and other institutional investors own 35.38% of the company's stock.

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.

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