Rigetti Shares Hit 52-Week Low Ahead of Nov. 10 Earnings

TradingView reporter Kala Ghazi reported that Rigetti Computing, Inc. (BATS:RGTI) shares fell to a new 52-week low of $10.60 before the company’s third-quarter earnings report. The decline extended a broader retreat from quantum computing stocks as investors assessed slow technical progress, high spending and unclear customer demand.

Kala Ghazi said Rigetti’s decline formed part of a broader sector move. Investors were reassessing the near-term outlook for quantum computing and the timeline for meaningful commercial adoption. The Nov. 10 report therefore faced a sector test, not just a company test.

What will investors measure on Nov. 10?

Rigetti scheduled its third-quarter results for Nov. 10. The report and analyst expectations cited by TradingView provide four reference points:

• Third-quarter earnings date: Nov. 10.
• Expected revenue: $3.68 million.
• Expected loss: $0.05 per share.
• New 52-week share-price low: $10.60.

The revenue and per-share loss estimates give investors a baseline for judging Rigetti’s progress. Kala Ghazi said the market will likely focus on the concerns that drove the sell-off: slow technological progress, heavy spending, and uncertainty over when customer demand will materialize and how large it may become.

The estimates establish the financial starting point. The broader concerns will shape how investors interpret the result. A company can land near the financial baseline while the market continues to question the sector’s commercial timetable. Rigetti’s Nov. 10 results will show how revenue and losses compare with analyst expectations.

Kala Ghazi said investors will judge the report against three broader questions: the pace of technical progress, the scale of spending, and the timing and size of customer demand. Those concerns sit above the earnings estimate in the current debate. They explain why a single revenue or loss comparison may not settle investor sentiment.

Why did B. Riley lower its target?

In a note to investors, B. Riley cut its Rigetti price target to $25 from $35 while maintaining a “Buy” rating. Kala Ghazi said the revised target still implied 134% upside from the stock’s last closing price.

The two parts of the note pull in different directions. B. Riley retained a positive rating after the sell-off, which Kala Ghazi described as continued confidence in Rigetti’s longer-term value. The target cut acknowledged pressure on the stock and the wider quantum computing sector.

It also reduced expectations for how quickly that longer-term potential might appear in the share price. The $25 target supports continued optimism, but it provides a more cautious marker than the previous $35 target. B. Riley still sees value in Rigetti. Its lower target lowers the expected pace of that value reaching the market.

Can earnings stabilize sentiment?

For investors, the central issue is whether Rigetti’s Nov. 10 results can stabilize sentiment or reinforce concerns about spending and demand. Kala Ghazi said the new 52-week low shows that investors demand more evidence of progress. The sector-wide decline also means investors are evaluating Rigetti against their confidence in quantum computing as an investable theme.

That makes the report a test on two levels. Company performance supplies the first measure through revenue and per-share results against expectations. Sector conviction supplies the second through evidence of technical progress, spending levels, and customer demand. B. Riley’s rating shows that the firm still sees substantial value, while the lower target shows how it has tempered that optimism.

The next catalyst is fixed: Nov. 10. Investors will compare reported revenue with $3.68 million and the per-share result with the expected $0.05 loss. Then they will weigh whether the report offers enough evidence to ease the sector’s concerns.

If it does, the report could help stabilize sentiment. If it does not, the results could reinforce the concerns that have pushed the sector lower. Kala Ghazi framed Nov. 10 as a near-term test of whether Rigetti can begin to justify the more optimistic views held by some analysts.