Rigetti Computing (NASDAQ:RGTI) Stock Price Up 4% – Should You Buy?

Rigetti Computing, Inc. (NASDAQ:RGTI) was up 4% on Tuesday . The stock traded as high as $17.05 and last traded at $15.81. 41,946,791 shares changed hands during trading, an increase of 34% from the average daily volume of 31,327,480 shares. The stock had previously closed at $15.20.

Trending Headlines about Rigetti Computing

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

• Positive Sentiment: The federal funding provides Rigetti with substantial capital to advance its technology and potentially reduce the need for near-term private financing. The company is one of three quantum-computing firms receiving government support under a combined $300 million program. Rigetti Signs Definitive Agreement for $100M with U.S. Government
• Positive Sentiment: Investors are viewing the award as government validation of Rigetti’s strategic importance and as a potential catalyst for faster commercialization of its quantum systems. The news also lifted other quantum-computing stocks. These 3 Quantum Stocks Are on the Rise
• Neutral Sentiment: The funding involves the U.S. government taking a minority, non-controlling equity stake, meaning the capital may come with some shareholder dilution. The longer-term benefit will depend on Rigetti converting the investment into meaningful technical and commercial progress. U.S. Gets Minority Stakes in Quantum Companies
• Negative Sentiment: Rigetti’s CFO sold 25,000 shares worth approximately $375,000 on September 3, representing 15% of the CFO’s direct stake. The insider sale could raise caution about valuation and executive confidence, although it was overshadowed by the government funding announcement. Rigetti CFO Sells 25,000 Shares

Analysts Set New Price Targets

Several analysts have issued reports on RGTI shares. Mizuho lowered their target price on Rigetti Computing from $33.00 to $27.00 and set an “outperform” rating on the stock in a research note on Tuesday, May 12th. Needham & Company LLC reissued a “buy” rating and issued a $31.00 price objective on shares of Rigetti Computing in a report on Tuesday, May 12th. Zacks Research cut Rigetti Computing from a “hold” rating to a “strong sell” rating in a research note on Wednesday, August 19th. Jefferies Financial Group restated a “hold” rating and issued a $18.00 price objective on shares of Rigetti Computing in a research note on Friday, August 7th. Finally, Wall Street Zen downgraded shares of Rigetti Computing from a “hold” rating to a “sell” rating in a report on Saturday, August 8th. Seven investment analysts have rated the stock with a Buy rating, four have given a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $30.67.

Rigetti Computing Price Performance

The stock has a market capitalization of $5.28 billion, a P/E ratio of -17.57 and a beta of 2.00. The stock has a fifty day moving average price of $16.34 and a 200 day moving average price of $17.66.

Rigetti Computing (NASDAQ:RGTI) last released its quarterly earnings data on Thursday, August 6th. The company reported ($0.05) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.05). The company had revenue of $5.14 million for the quarter, compared to analyst estimates of $5.09 million. Rigetti Computing had a negative return on equity of 17.50% and a negative net margin of 2,189.54%. Research analysts anticipate that Rigetti Computing, Inc. will post -0.27 earnings per share for the current year.

Insider Buying and Selling

In other news, CFO Jeffrey Bertelsen sold 25,000 shares of the company’s stock in a transaction dated Thursday, September 3rd. The stock was sold at an average price of $15.00, for a total transaction of $375,000.00. Following the sale, the chief financial officer directly owned 168,067 shares in the company, valued at $2,521,005. This represents a 12.95% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Ray Johnson sold 84,944 shares of the stock in a transaction dated Monday, June 22nd. The stock was sold at an average price of $20.55, for a total transaction of $1,745,599.20. Following the completion of the sale, the director directly owned 95,537 shares in the company, valued at approximately $1,963,285.35. The trade was a 47.07% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 128,633 shares of company stock worth $2,434,889 over the last quarter. 1.60% of the stock is owned by corporate insiders.

Institutional Trading of Rigetti Computing

Several institutional investors and hedge funds have recently bought and sold shares of RGTI. Nykredit A S bought a new position in shares of Rigetti Computing in the second quarter worth $193,000. Corient Private Wealth LP boosted its stake in Rigetti Computing by 200.4% during the second quarter. Corient Private Wealth LP now owns 61,212 shares of the company’s stock valued at $1,183,000 after buying an additional 40,836 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in Rigetti Computing during the second quarter valued at $655,000. California State Teachers Retirement System grew its position in Rigetti Computing by 1,861.8% during the second quarter. California State Teachers Retirement System now owns 7,414,688 shares of the company’s stock worth $143,252,000 after buying an additional 7,036,733 shares in the last quarter. Finally, Ameritas Advisory Services LLC purchased a new position in Rigetti Computing during the second quarter worth about $133,000. 35.38% of the stock is currently 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.