Rigetti Computing (NASDAQ:RGTI) Shares Up 3.2% – Here’s What Happened

Rigetti Computing, Inc. (NASDAQ:RGTI) shares shot up 3.2% during mid-day trading on Tuesday . The company traded as high as $18.47 and last traded at $18.27. 24,360,234 shares traded hands during trading, a decline of 18% from the average session volume of 29,685,768 shares. The stock had previously closed at $17.70.

Key Stories Impacting Rigetti Computing

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

• Positive Sentiment: Northland reiterates a bullish view and frames rising AI compute demand as a tailwind for quantum players; Street estimates ahead of Q1 show modest revenue expectations (~$4.09M), which has helped lift sentiment. Northland Believes Compute Demand For AI Leading Quantum Industry, Here’s What it Thinks About Rigetti Computing (RGTI)
• Positive Sentiment: Rigetti’s hardware roadmap and reported progress toward higher‑qubit systems, plus recent international/government contracts, are reshaping the investment narrative toward an integrated quantum‑provider story. This execution news is cited as a reason for improved analyst expectations. Will Quantum Hardware Milestones and Global Contracts Reshape Rigetti Computing’s (RGTI) Investment Narrative?
• Positive Sentiment: Management visibility: CEO Subodh Kulkarni (and CFO Jeff Bertelsen) will present at the Needham Technology, Media & Consumer Conference, increasing investor access ahead of earnings. Rigetti Computing to Participate in Fireside Chat at 21st Annual Needham Technology, Media, & Consumer Conference
• Neutral Sentiment: Recent momentum: the stock has seen a strong month and substantial one‑year gains, prompting fresh valuation discussion — investors are weighing growth potential vs. current pricing. Assessing Rigetti Computing (RGTI) Valuation After Recent Share Price Momentum And Ongoing Losses
• Neutral Sentiment: Market context: coverage noting that RGTI has outperformed during recent sessions as broader markets dip — a reminder some moves reflect headline flow and momentum trading as much as fundamentals. Rigetti Computing, Inc. (RGTI) Gains As Market Dips: What You Should Know
• Negative Sentiment: Critical takes: retail/investor commentary (e.g., The Motley Fool) underscores that Rigetti is still early, with a long path to a sustainable, profitable business — a caution for longer‑term investors. Is Rigetti Computing a Buy?
• Negative Sentiment: Fundamental headwinds remain: recent quarterly results showed an EPS beat but a revenue miss and very large negative margins/ongoing losses — the company is not yet cash‑flow positive, which leaves valuation sensitive to execution and future revenue ramps.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on RGTI. Royal Bank Of Canada cut shares of Rigetti Computing to a “hold” rating in a research report on Thursday, January 22nd. Benchmark cut 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 report on Friday, March 20th. Mizuho cut their target price on shares of Rigetti Computing from $50.00 to $43.00 and set an “outperform” rating for the company in a research report on Thursday, March 5th. Wall Street Zen cut shares of Rigetti Computing from a “hold” rating to a “sell” rating in a research report on Sunday, April 26th. Finally, Northland Securities began coverage on shares of Rigetti Computing in a research report on Monday, April 20th. They set a “market perform” rating and a $20.00 target price for the company. Eight investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Rigetti Computing presently has a consensus rating of “Moderate Buy” and a consensus target price of $30.64.

Rigetti Computing Price Performance

The business’s 50-day moving average price is $16.25 and its two-hundred day moving average price is $23.02. The firm has a market cap of $6.07 billion, a price-to-earnings ratio of -26.87 and a beta of 1.79.

Rigetti Computing (NASDAQ:RGTI) last posted its quarterly earnings data on Wednesday, March 4th. The company reported ($0.03) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.02. The business had revenue of $1.87 million during the quarter, compared to analyst estimates of $2.33 million. Rigetti Computing had a negative net margin of 3,111.92% and a negative return on equity of 14.91%. The business’s quarterly revenue was down 17.9% on a year-over-year basis. As a group, sell-side analysts forecast that Rigetti Computing, Inc. will post -0.16 earnings per share for the current year.

Insider Buying and Selling

In other news, CFO Jeffrey A. Bertelsen sold 4,270 shares of the business’s stock in a transaction that occurred on 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 owned 175,609 shares of the company’s stock, valued at $3,076,669.68. The trade was a 2.37% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CTO David Rivas sold 36,719 shares of the business’s stock in a transaction that occurred on Tuesday, March 10th. The shares were sold at an average price of $17.52, for a total transaction of $643,316.88. Following the completion of the transaction, the chief technology officer directly owned 651,914 shares of the company’s stock, valued at approximately $11,421,533.28. This represents a 5.33% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 1.60% of the company’s stock.

Institutional Investors Weigh In On Rigetti Computing

A number of institutional investors have recently bought and sold shares of RGTI. Heritage Wealth Advisors grew its holdings in Rigetti Computing by 454.3% in the fourth quarter. Heritage Wealth Advisors now owns 1,164 shares of the company’s stock valued at $26,000 after purchasing an additional 954 shares during the period. Larson Financial Group LLC grew its holdings in Rigetti Computing by 138.4% in the fourth quarter. Larson Financial Group LLC now owns 1,218 shares of the company’s stock valued at $27,000 after purchasing an additional 707 shares during the period. EFG International AG purchased a new stake in Rigetti Computing in the fourth quarter valued at approximately $28,000. Tsfg LLC grew its holdings in Rigetti Computing by 320.5% in the fourth quarter. Tsfg LLC now owns 1,312 shares of the company’s stock valued at $29,000 after purchasing an additional 1,000 shares during the period. Finally, Northwestern Mutual Wealth Management Co. grew its holdings in Rigetti Computing by 180.3% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 1,334 shares of the company’s stock valued at $30,000 after purchasing an additional 858 shares during the period. 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.