Rigetti Computing (NASDAQ:RGTI) Shares Down 5.5% – What’s Next?

Rigetti Computing, Inc. (NASDAQ:RGTI) fell 5.5% during mid-day trading on Friday . The company traded as low as $24.44 and last traded at $25.54. 60,787,678 shares traded hands during mid-day trading, an increase of 76% from the average session volume of 34,444,297 shares. The stock had previously closed at $27.03.

More Rigetti Computing News

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

• Positive Sentiment: The biggest driver is fresh federal backing for quantum computing, with reports that the U.S. government will invest up to $100 million in Rigetti and two peers, while President Trump’s broader $2.013 billion incentive package could further support the sector. The U.S. Government Just Invested in These 3 Quantum Computing Stocks. Should Retail Investors Follow Suit?
• Positive Sentiment: Investor enthusiasm is also being fueled by Rigetti’s 108-qubit Cepheus-1 launch, which keeps hopes alive for eventual quantum advantage and signals continued product progress. Rigetti Computing’s 108-Qubit Push Keeps Quantum Advantage Hopes Alive
• Positive Sentiment: Commentary around rising QPU demand and a potential commercial breakout has reinforced the idea that Rigetti may be moving closer to monetizing its technology. Rigetti Computing’s 108-Qubit Push Keeps Quantum Advantage Hopes Alive
• Neutral Sentiment: Several articles highlighted a breakout setup and institutional interest, suggesting traders are positioning for more upside, but these are more sentiment-driven than fundamental developments. This Quantum Computing Stock May Be Closer to a Breakout Than You Think
• Neutral Sentiment: Coverage on quantum stocks as a broader sector trade, including comparisons to an “AI boom” narrative, is adding momentum across the group rather than pointing to a Rigetti-specific catalyst. Stock Market Today, May 28: Rigetti Computing Extends Gains on Quantum Optimism
• Neutral Sentiment: One note reported short-interest data that was effectively flat and not meaningful, so it does not appear to be a real driver for the stock. Quantum Computing’s Commercial Breakout Has Arrived (RGTI)

Analyst Upgrades and Downgrades

A number of research firms have issued reports on RGTI. Northland Securities began coverage on shares of Rigetti Computing in a research note on Monday, April 20th. They issued a “market perform” rating and a $20.00 target price for the company. Mizuho reduced their target price on shares of Rigetti Computing from $33.00 to $27.00 and set an “outperform” rating for the company in a research note on Tuesday, May 12th. Rosenblatt Securities reiterated a “buy” rating and issued a $40.00 target price on shares of Rigetti Computing in a research note on Thursday, March 5th. Benchmark reduced their target price on shares of Rigetti Computing from $35.00 to $25.00 and set a “buy” rating for the company in a research note on Friday, March 20th. Finally, TD Cowen cut Rigetti Computing from a “buy” rating to a “hold” rating in a research report on Thursday, February 12th. 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. According to MarketBeat.com, Rigetti Computing has an average rating of “Moderate Buy” and a consensus target price of $29.18.

Rigetti Computing Stock Down 5.5%

The stock has a market cap of $8.49 billion, a P/E ratio of -29.36 and a beta of 1.79. The business has a 50-day simple moving average of $17.59 and a 200-day simple moving average of $20.49.

Rigetti Computing (NASDAQ:RGTI) last announced its earnings results on Monday, May 11th. The company reported ($0.04) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.01. The firm had revenue of $4.40 million during the quarter, compared to analysts’ expectations of $4.09 million. Rigetti Computing had a negative return on equity of 10.40% and a negative net margin of 2,789.71%.The company’s revenue was up 198.9% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.05) earnings per share. On average, analysts predict that Rigetti Computing, Inc. will post -0.19 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Rigetti Computing news, CFO Jeffrey A. Bertelsen sold 3,682 shares of the company’s stock in a transaction that occurred on Friday, May 22nd. The stock was sold at an average price of $22.95, for a total transaction of $84,501.90. Following the completion of the sale, the chief financial officer owned 171,927 shares of the company’s stock, valued at $3,945,724.65. This represents a 2.10% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CTO David Rivas sold 18,759 shares of the stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of $22.96, for a total value of $430,706.64. Following the completion of the sale, the chief technology officer directly owned 713,155 shares of the company’s stock, valued at $16,374,038.80. This represents a 2.56% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 63,430 shares of company stock valued at $1,233,336 in the last ninety days. Company insiders own 1.60% of the company’s stock.

Institutional Investors Weigh In On Rigetti Computing

Hedge funds have recently modified their holdings of the business. Penserra Capital Management LLC boosted its position in shares of Rigetti Computing by 43.8% in the third quarter. Penserra Capital Management LLC now owns 2,445,818 shares of the company’s stock valued at $72,860,000 after acquiring an additional 744,577 shares during the period. Clear Street Group Inc. bought a new stake in shares of Rigetti Computing in the third quarter valued at approximately $47,752,000. Federated Hermes Inc. boosted its position in shares of Rigetti Computing by 6,219.1% in the third quarter. Federated Hermes Inc. now owns 100,853 shares of the company’s stock valued at $3,004,000 after acquiring an additional 99,257 shares during the period. Van ECK Associates Corp boosted its position in shares of Rigetti Computing by 384.2% in the third quarter. Van ECK Associates Corp now owns 548,217 shares of the company’s stock valued at $16,331,000 after acquiring an additional 434,995 shares during the period. Finally, Spear Advisors LLC bought a new stake in shares of Rigetti Computing in the fourth quarter valued at approximately $2,062,000. 35.38% of the stock is owned by 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.