Rigetti Computing (NASDAQ:RGTI) Trading Down 3.8% – Here’s Why

Shares of Rigetti Computing, Inc. (NASDAQ:RGTI) were down 3.8% during mid-day trading on Wednesday . The company traded as low as $13.44 and last traded at $13.50. Approximately 22,627,830 shares changed hands during trading, a decline of 24% from the average daily volume of 29,706,238 shares. The stock had previously closed at $14.04.

Key Headlines Impacting Rigetti Computing

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

• Positive Sentiment: Rigetti announced up to a $100M commitment to expand operations in the UK, a strategic move to accelerate development and international footprint that supports longer‑term revenue opportunities. Read More.
• Positive Sentiment: Rigetti completed a commercial sale of a 9‑qubit Novera QPU to the University of Saskatchewan — a product sale that validates the Novera platform and can help franchise customer references for future academic and commercial deals. Read More.
• Positive Sentiment: Analyst support: Rosenblatt has reiterated a Buy rating and a $40 price target, and several analyst write‑ups include RGTI among quantum names with large upside potential — these endorsements can boost investor confidence and liquidity. Read More.
• Neutral Sentiment: Sector narratives highlight “triple‑digit” upside scenarios for quantum names including RGTI, but note macro volatility has pressured prices — helpful for long‑term stories but adds uncertainty for timing. Read More.
• Neutral Sentiment: Valuation check pieces note mixed signals: strong 1‑year shareholder return (~+80%) contrasts with a sizable year‑to‑date decline (~‑40%), indicating fading short‑term momentum despite longer‑term gains. Read More.
• Negative Sentiment: Fundamentals remain a drag: recent quarterly revenue was modest and below some estimates, RGTI has large negative margins and losses (negative EPS and ROE), which keep the stock volatile and sensitive to capital‑raising and execution risk. Read More.
• Negative Sentiment: Macro and sector volatility: analysts warn that broader market pressure on quantum names can drive short‑term share weakness even when company milestones are achieved. Read More.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. Jefferies Financial Group initiated coverage on shares of Rigetti Computing in a research report on Tuesday, December 16th. They set a “hold” rating and a $30.00 price objective on the stock. Wall Street Zen cut shares of Rigetti Computing from a “hold” rating to a “sell” rating in a research note on Saturday, February 21st. Weiss Ratings reiterated a “sell (d-)” rating on shares of Rigetti Computing in a report on Monday, December 29th. Benchmark reduced their price objective on shares of Rigetti Computing from $35.00 to $25.00 and set a “buy” rating on the stock in a research report on Friday, March 20th. Finally, Needham & Company LLC decreased their price objective on shares of Rigetti Computing from $51.00 to $31.00 and set a “buy” rating for the company in a research note on Thursday, March 5th. Eight analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Rigetti Computing has a consensus rating of “Moderate Buy” and an average target price of $31.70.

Rigetti Computing Trading Down 3.8%

The company has a market cap of $4.48 billion, a PE ratio of -19.85 and a beta of 1.72. The company’s 50 day moving average is $17.21 and its 200 day moving average is $25.87.

Rigetti Computing (NASDAQ:RGTI) last issued its earnings results on Wednesday, March 4th. The company reported ($0.03) EPS for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.02. Rigetti Computing had a negative net margin of 3,111.92% and a negative return on equity of 14.91%. The business had revenue of $1.87 million for the quarter, compared to the consensus estimate of $2.33 million. Rigetti Computing’s quarterly revenue was down 17.9% compared to the same quarter last year. Analysts expect that Rigetti Computing, Inc. will post -0.34 EPS for the current year.

Insider Buying and Selling

In related news, CTO David Rivas sold 36,719 shares of the company’s stock in a transaction dated Tuesday, March 10th. The stock was sold at an average price of $17.52, for a total transaction of $643,316.88. Following the transaction, the chief technology officer directly owned 651,914 shares of the company’s stock, valued at $11,421,533.28. This represents a 5.33% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CFO Jeffrey A. Bertelsen sold 4,270 shares of the stock in a transaction dated Tuesday, March 10th. The shares were sold at an average price of $17.52, for a total value of $74,810.40. Following the completion of the transaction, the chief financial officer directly owned 175,609 shares in the company, valued at $3,076,669.68. This represents a 2.37% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing.

Institutional Investors Weigh In On Rigetti Computing

Several hedge funds have recently modified their holdings of RGTI. Vanguard Group Inc. increased its stake 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 valued at $796,750,000 after purchasing an additional 3,924,171 shares in the last quarter. State Street Corp grew its holdings in Rigetti Computing by 12.0% in the second quarter. State Street Corp now owns 8,853,006 shares of the company’s stock valued at $104,997,000 after purchasing an additional 946,850 shares during the period. Geode Capital Management LLC grew its holdings in Rigetti Computing by 2.6% in the fourth quarter. Geode Capital Management LLC now owns 7,879,325 shares of the company’s stock valued at $174,930,000 after purchasing an additional 196,891 shares during the period. Marex Group plc purchased a new stake in shares of Rigetti Computing in the second quarter valued at approximately $87,414,000. Finally, UBS Group AG increased its position in shares of Rigetti Computing by 90.9% in the third quarter. UBS Group AG now owns 3,081,174 shares of the company’s stock valued at $91,788,000 after buying an additional 1,467,483 shares in the last quarter. 35.38% of the stock is 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.