Rigetti Computing (NASDAQ:RGTI) Trading Down 7.2% - Here's Why

Key Points

• Shares fell 7.2% on Monday to about $21.76 with 29.9M shares traded (below the 34.0M average), and the stock is trading below its 50‑day (~$24.90) and 200‑day (~$25.47) moving averages.
• Analysts remain largely bullish—8 Buys, 2 Holds and 1 Sell—giving Rigetti a consensus rating of "Moderate Buy" and an average price target of $32.60.
• Recent results showed EPS of ($0.03) that beat estimates but revenue fell 18% year‑over‑year to $1.95M and the company reported an extremely negative net margin (~4,741%), with analysts forecasting ~($0.34) EPS for the fiscal year.

Shares of Rigetti Computing, Inc. (NASDAQ:RGTI - Get Free Report) traded down 7.2% during trading on Monday . The stock traded as low as $21.41 and last traded at $21.76. 29,868,841 shares changed hands during trading, a decline of 12% from the average session volume of 34,025,324 shares. The stock had previously closed at $23.45.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. Alliance Global Partners reiterated a "buy" rating on shares of Rigetti Computing in a report on Tuesday, November 11th. Rosenblatt Securities restated a "buy" rating and set a $40.00 price objective on shares of Rigetti Computing in a report on Wednesday, January 21st. Benchmark dropped their price objective on shares of Rigetti Computing from $50.00 to $40.00 and set a "buy" rating on the stock in a research note on Tuesday, November 11th. Jefferies Financial Group began coverage on shares of Rigetti Computing in a research report on Tuesday, December 16th. They set a "hold" rating and a $30.00 target price for the company. Finally, Williams Trading set a $40.00 target price on Rigetti Computing in a report on Tuesday, November 11th. Eight equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $32.60.

Rigetti Computing Stock Performance

The stock has a 50 day moving average price of $24.90 and a 200 day moving average price of $25.47.

Rigetti Computing (NASDAQ:RGTI - Get Free Report) last posted its quarterly earnings results on Monday, November 10th. The company reported ($0.03) earnings per share for the quarter, beating the consensus estimate of ($0.05) by $0.02. Rigetti Computing had a negative net margin of 4,741.49% and a negative return on equity of 21.98%. The company had revenue of $1.95 million during the quarter, compared to analyst estimates of $2.17 million. The business's revenue was down 18.1% on a year-over-year basis. On average, research analysts predict that Rigetti Computing, Inc. will post -0.34 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Rigetti Computing

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Royal Bank of Canada lifted its position in shares of Rigetti Computing by 106.2% during the first quarter. Royal Bank of Canada now owns 220,701 shares of the company's stock worth $1,748,000 after acquiring an additional 113,644 shares in the last quarter. AQR Capital Management LLC increased its holdings in Rigetti Computing by 138.9% during the 1st quarter. AQR Capital Management LLC now owns 81,047 shares of the company's stock worth $642,000 after acquiring an additional 47,115 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Rigetti Computing by 25.4% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 112,409 shares of the company's stock worth $890,000 after purchasing an additional 22,770 shares in the last quarter. NewEdge Advisors LLC boosted its holdings in Rigetti Computing by 197.8% in the 1st quarter. NewEdge Advisors LLC now owns 25,592 shares of the company's stock valued at $203,000 after purchasing an additional 16,998 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC purchased a new position in shares of Rigetti Computing during the 1st quarter valued at $3,115,000. 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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