Rigetti Computing (NASDAQ:RGTI) Stock Price Up 4% – Here’s What Happened

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

Key Stories Impacting Rigetti Computing

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

• Positive Sentiment: Rigetti secured a $100 million CHIPS award to expand quantum-computing capabilities, including readout electronics, cryogenic capacity and chip fabrication. The funding could accelerate scaling while reducing the near-term burden on Rigetti’s balance sheet. Rigetti Secures $100 Million CHIPS Award to Advance Quantum Scaling
• Positive Sentiment: The Commerce Department is reportedly preparing up to $300 million in minority equity investments in Rigetti, D-Wave and Quantinuum. Potential government capital would strengthen Rigetti’s financial position and provide additional validation for its technology roadmap. Uncle Sam’s Quantum Leap: Feds Fund a $300M Quantum Supercycle
• Neutral Sentiment: Analyst commentary remains optimistic about quantum-computing adoption and views the government funding as a reason to consider Rigetti, but the sector remains highly speculative and commercialization timelines are uncertain. Rigetti: If You Wanted to Buy Quantum, Do It Now
• Negative Sentiment: Rigetti continues to face widening losses, uneven revenue and execution risk. Its latest quarterly results included a loss of $0.05 per share, while analysts expect a full-year loss, limiting the immediate fundamental support for the stock. Rising Losses Weigh on Rigetti’s Outlook
• Negative Sentiment: Quantum stocks broadly pulled back as expectations for another Federal Reserve rate move increased. Higher rates typically pressure richly valued, unprofitable growth companies such as RGTI. Quantum Stocks Fall as Rate-Hike Odds Climb

Analysts Set New Price Targets

Several brokerages have issued reports on RGTI. Rosenblatt Securities reissued a “buy” rating and issued a $40.00 price target on shares of Rigetti Computing in a report on Friday, August 7th. Wedbush began coverage on Rigetti Computing in a research report on Monday, August 3rd. They issued an “outperform” rating and a $40.00 price target on the stock. Benchmark assumed coverage on Rigetti Computing in a research note on Monday, July 27th. They set a “buy” rating and a $25.00 price objective for the company. Weiss Ratings raised Rigetti Computing from a “sell (e+)” rating to a “sell (d-)” rating in a report on Wednesday, September 2nd. Finally, Jefferies Financial Group restated a “hold” rating and issued a $18.00 target price on shares of Rigetti Computing in a research note on Friday, August 7th. Seven research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $30.67.

Rigetti Computing Stock Performance

The company’s 50-day moving average is $16.20 and its 200-day moving average is $17.65. The firm has a market cap of $5.06 billion, a price-to-earnings ratio of -16.84 and a beta of 2.00.

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

Insiders Place Their Bets

In other Rigetti Computing news, Director Ray O. Johnson sold 84,944 shares of the stock in a transaction on Monday, June 22nd. The stock was sold at an average price of $20.55, for a total value of $1,745,599.20. Following the transaction, the director directly owned 95,537 shares in the company, valued at approximately $1,963,285.35. This trade represents a 47.07% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Jeffrey A. Bertelsen sold 25,000 shares of the stock in a transaction on Thursday, September 3rd. The shares were sold at an average price of $15.00, for a total value of $375,000.00. Following the completion of the transaction, the chief financial officer owned 168,067 shares in the company, valued at $2,521,005. The trade was a 12.95% decrease in their ownership of the stock. 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. Insiders have sold a total of 248,633 shares of company stock valued at $4,316,489 over the last quarter. Company insiders own 1.60% of the company’s stock.

Institutional Investors Weigh In On Rigetti Computing

Institutional investors and hedge funds have recently made changes to their positions in the company. Royal Bank of Canada raised its holdings in Rigetti Computing by 106.2% during the 1st quarter. Royal Bank of Canada now owns 220,701 shares of the company’s stock worth $1,748,000 after purchasing an additional 113,644 shares during the last quarter. AQR Capital Management LLC boosted its stake in shares of Rigetti Computing by 138.9% in the 1st quarter. AQR Capital Management LLC now owns 81,047 shares of the company’s stock valued at $642,000 after purchasing an additional 47,115 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of Rigetti Computing by 25.4% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 112,409 shares of the company’s stock worth $890,000 after buying an additional 22,770 shares during the period. NewEdge Advisors LLC grew its position in shares of Rigetti Computing by 197.8% during the 1st quarter. NewEdge Advisors LLC now owns 25,592 shares of the company’s stock worth $203,000 after buying an additional 16,998 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC bought a new stake in shares of Rigetti Computing during the first quarter worth approximately $3,115,000. Institutional investors own 35.38% of the company’s stock.

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.