Rigetti Computing (NASDAQ: RGTI) Sees Stock Decline Despite Strong Analyst Ratings and Institutional Interest

Rigetti Computing, Inc. (NASDAQ: RGTI) saw its stock price decline 5.7% during Friday’s trading session, with shares trading as low as $12.79 before closing at $12.53. The trading volume came in at 52.48 million shares, marking a 70% drop from its average session volume of 173 million shares.

Wall Street Analysts Remain Bullish on Rigetti Computing

Despite the stock’s recent dip, analysts continue to forecast strong growth for Rigetti Computing. Several firms have maintained a “Buy” rating, highlighting the company’s potential in the quantum computing sector:

📈 Benchmark reiterated a $2.50 price target and a “Buy” rating.

📈 Needham & Company LLC reaffirmed a $2.00 target, emphasizing Rigetti’s long-term prospects.

📈 B. Riley raised its price objective from $4.00 to $8.50, maintaining a “Buy” rating.

📈 Craig Hallum initiated coverage with a $12.00 price target, citing growth potential in the quantum computing market.

According to MarketBeat, five analysts currently rate Rigetti stock as a “Buy”, with a consensus price target of $5.70—suggesting potential upside.

Rigetti Computing’s Financial Overview

🔹 Market Cap: $2.47 billion

🔹 PE Ratio: -33.76 (indicating the company is currently unprofitable)

🔹 Beta: 1.26 (moderate volatility compared to the market)

🔹 Debt-to-Equity Ratio: 0.02 (indicating low debt levels)

🔹 50-Day Moving Average: $10.95

🔹 200-Day Moving Average: $4.50

Insider Activity: Executives Reducing Positions

Recent insider selling activity indicates that major shareholders and executives are offloading shares:

🔻 Bessemer Venture Partners X. L. sold 1.28 million shares at an average price of $1.52, totaling $1.95 million. This represents a 6.16% decrease in their holdings.

🔻 Director Michael S. Clifton sold 125,000 shares at $5.03 per share, totaling $628,750, reducing his position by 10.51%.

Institutional Investors Continue to Increase Positions

Despite recent sell-offs by insiders, institutional investors remain bullish:

✅ SG Americas Securities LLC increased its stake by 166.9%, now holding 63,202 shares.

✅ Charles Schwab Investment Management raised its holdings by 14.4%, bringing its total to 1.15 million shares.

✅ Penserra Capital Management LLC expanded its position by 9.8%, now owning 4.55 million shares.

✅ State Street Corp increased its stake by 12.9%, bringing its total to 2.71 million shares.

✅ Jane Street Group LLC boosted its holdings by 23.8%, acquiring an additional 47,013 shares.

With 35.38% of Rigetti stock owned by hedge funds and institutional investors, Wall Street continues to show strong confidence in the company’s long-term growth prospects in the quantum computing industry.