Rigetti Computing (NASDAQ:RGTI) Shares Down 7.2% – Time to Sell?

Shares of Rigetti Computing, Inc. (NASDAQ:RGTI) were down 7.2% during mid-day trading on Tuesday . The company traded as low as $14.05 and last traded at $14.52. 17,856,052 shares were traded during mid-day trading, a decline of 47% from the average daily volume of 33,951,453 shares. The stock had previously closed at $15.64.

Key Headlines Impacting Rigetti Computing

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

• Positive Sentiment: Rigetti will supply Hewlett Packard Enterprise with a 9-qubit Novera quantum system for a hybrid quantum-computing initiative. The expanded HPE relationship provides commercial validation and could support future enterprise demand. Rigetti Stock Falls after HPE Quantum Partnership Expansion
• Positive Sentiment: Benchmark has initiated research coverage on Rigetti, potentially improving institutional visibility and investor attention, although the available report does not identify a rating or price target. Rigetti Research Coverage Started at Benchmark
• Neutral Sentiment: Rigetti and other quantum companies are approaching second-quarter earnings. Results could determine whether the recent sector sell-off was excessive; investors are expected to scrutinize Rigetti’s costs and progress toward commercial adoption. Quantum Earnings Could Decide Whether the Sector’s Sell-Off Has Gone Too Far
• Negative Sentiment: Comparisons with Quantum Computing, Inc. favor QUBT because of its photonic-AI strategy, NHanced transaction, lower valuation and greater analyst-implied upside. That relative assessment may divert speculative capital away from RGTI ahead of earnings. QUBT vs. RGTI: Which Quantum Computing Stock Is the Better Pick Now?
• Negative Sentiment: Investor enthusiasm remains constrained by a broad quantum-sector unwind, with high-multiple, pre-profit companies facing heavy selling. D-Wave’s record bookings and commercial traction are also viewed more favorably than Rigetti’s position ahead of results. Quantum Stocks Face Further Selling Pressure

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. Rosenblatt Securities reiterated a “buy” rating and set a $40.00 target price on shares of Rigetti Computing in a report on Thursday, June 11th. Benchmark started coverage on Rigetti Computing in a report on Monday. They set a “buy” rating and a $25.00 price target on the stock. 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. Weiss Ratings raised Rigetti Computing from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Tuesday, July 21st. Finally, Wall Street Zen upgraded Rigetti Computing from a “sell” rating to a “hold” rating in a report on Monday, July 20th. Seven investment analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $32.00.

Rigetti Computing Trading Up 12.4%

The stock has a market cap of $4.94 billion, a PE ratio of -17.08 and a beta of 1.95. The business has a fifty day simple moving average of $19.53 and a two-hundred day simple moving average of $18.44.

Rigetti Computing (NASDAQ:RGTI) last released its earnings results on Monday, May 11th. The company reported ($0.04) EPS for the quarter, beating analysts’ consensus estimates 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 company had revenue of $4.40 million during the quarter, compared to analysts’ expectations of $4.09 million. During the same quarter last year, the business posted ($0.05) EPS. The firm’s revenue for the quarter was up 198.9% compared to the same quarter last year. On average, research analysts predict that Rigetti Computing, Inc. will post -0.22 earnings per share for the current year.

Insiders Place Their Bets

In other Rigetti Computing news, CFO Jeffrey A. Bertelsen sold 3,682 shares of the stock in a transaction on Friday, May 22nd. The stock was sold at an average price of $22.95, for a total value of $84,501.90. Following the completion of the transaction, the chief financial officer owned 171,927 shares in the company, valued at approximately $3,945,724.65. This represents a 2.10% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Ray O. Johnson sold 122,188 shares of the firm’s stock in a transaction on Monday, June 8th. The shares were sold at an average price of $21.30, for a total value of $2,602,604.40. Following the transaction, the director directly owned 171,273 shares of the company’s stock, valued at $3,648,114.90. This represents a 41.64% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 728,901 shares of company stock worth $17,546,343. 1.60% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Clear Street Group Inc. lifted its holdings in shares of Rigetti Computing by 71.1% during the fourth quarter. Clear Street Group Inc. now owns 2,743,150 shares of the company’s stock valued at $60,761,000 after purchasing an additional 1,140,183 shares during the last quarter. Patriot Financial Group Insurance Agency LLC grew its stake in shares of Rigetti Computing by 105.3% in the 1st quarter. Patriot Financial Group Insurance Agency LLC now owns 123,460 shares of the company’s stock worth $1,733,000 after buying an additional 63,331 shares during the last quarter. Intech Investment Management LLC increased its position in Rigetti Computing by 66.3% during the 4th quarter. Intech Investment Management LLC now owns 120,260 shares of the company’s stock valued at $2,664,000 after buying an additional 47,935 shares in the last quarter. Spear Advisors LLC bought a new position in Rigetti Computing during the 4th quarter valued at approximately $2,062,000. Finally, Eurizon Capital SGR S.p.A. bought a new position in Rigetti Computing during the 4th quarter valued at approximately $4,937,000. 35.38% of the stock is owned by hedge funds and other 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.