Rigetti Computing (NASDAQ:RGTI) Shares Down 4.7% – Here’s Why

Rigetti Computing, Inc. (NASDAQ:RGTI)’s stock price dropped 4.7% on Friday . The stock traded as low as $14.14 and last traded at $14.15. Approximately 15,763,726 shares were traded during trading, a decline of 54% from the average daily volume of 34,093,953 shares. The stock had previously closed at $14.85.

Trending Headlines about Rigetti Computing

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

• Positive Sentiment: Rigetti was highlighted in multiple articles as one of two quantum stocks with triple-digit implied upside ahead of second-quarter earnings, reinforcing bullish Wall Street expectations for the name. Article Title
• Positive Sentiment: Another report said Rigetti shares were up after an analyst upgrade, suggesting improving sentiment from the sell side. Article Title
• Positive Sentiment: Rigetti was also included in coverage citing 100%+ upside potential after the Quantinuum-SoftBank deal, keeping speculative interest in quantum stocks elevated. Article Title
• Neutral Sentiment: Rigetti announced it will report second-quarter 2026 results on August 6 and host a conference call the same day, which puts a near-term catalyst on the calendar but does not change fundamentals yet. Article Title
• Neutral Sentiment: Short-interest data showed no reported short interest as of July 24, so the update does not currently point to a meaningful squeeze setup.
• Negative Sentiment: Recent trading has been weak, with RGTI falling more than the broader market in the latest session, reflecting ongoing volatility and profit-taking in the quantum-computing group. Article Title
• Negative Sentiment: Several commentary pieces warned that quantum stocks remain expensive relative to revenues and face competition, which may be pressuring sentiment toward Rigetti and other pre-revenue names. Article Title

Analyst Upgrades and Downgrades

Several research analysts have commented on RGTI shares. Needham & Company LLC reaffirmed a “buy” rating and issued a $31.00 price target on shares of Rigetti Computing in a research report on Tuesday, May 12th. Mizuho reduced their price objective on Rigetti Computing from $33.00 to $27.00 and set an “outperform” rating for the company in a research report on Tuesday, May 12th. Rosenblatt Securities restated a “buy” rating and issued a $40.00 price objective on shares of Rigetti Computing in a research note on Thursday, June 11th. Wall Street Zen raised shares of Rigetti Computing from a “sell” rating to a “hold” rating in a research report on Monday, July 20th. Finally, Weiss Ratings upgraded shares of Rigetti Computing from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Tuesday. Seven analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $32.00.

Rigetti Computing Stock Down 4.7%

The firm has a 50-day moving average of $19.65 and a 200 day moving average of $18.72. The stock has a market capitalization of $4.70 billion, a P/E ratio of -16.26 and a beta of 1.95.

Rigetti Computing (NASDAQ:RGTI) last announced its quarterly earnings results on Monday, May 11th. The company reported ($0.04) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.05) by $0.01. Rigetti Computing had a negative net margin of 2,789.71% and a negative return on equity of 10.40%. The firm had revenue of $4.40 million for the quarter, compared to analyst estimates of $4.09 million. During the same quarter in the previous year, the firm posted ($0.05) EPS. The business’s revenue for the quarter was up 198.9% on a year-over-year basis. Analysts predict that Rigetti Computing, Inc. will post -0.22 EPS for the current fiscal year.

Insider Activity

In related news, CFO Jeffrey A. Bertelsen sold 3,682 shares of the stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $22.95, for a total value of $84,501.90. Following the completion of the transaction, the chief financial officer owned 171,927 shares of the company’s stock, valued at $3,945,724.65. This represents a 2.10% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CTO David Rivas sold 499,328 shares of the firm’s stock in a transaction dated Friday, May 29th. The stock was sold at an average price of $25.40, for a total transaction of $12,682,931.20. Following the transaction, the chief technology officer owned 325,945 shares of the company’s stock, valued at approximately $8,279,003. This represents a 60.50% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 728,901 shares of company stock worth $17,546,343. Corporate insiders own 1.60% of the company’s stock.

Institutional Investors Weigh In On Rigetti Computing

Several large investors have recently modified their holdings of the stock. Royal Bank of Canada lifted its position in shares of 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 buying an additional 113,644 shares during the period. AQR Capital Management LLC grew its position in Rigetti Computing by 138.9% in the first quarter. AQR Capital Management LLC now owns 81,047 shares of the company’s stock valued at $642,000 after acquiring an additional 47,115 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Rigetti Computing by 25.4% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 112,409 shares of the company’s stock valued at $890,000 after acquiring an additional 22,770 shares during the period. NewEdge Advisors LLC grew its position in Rigetti Computing by 197.8% in the first quarter. NewEdge Advisors LLC now owns 25,592 shares of the company’s stock valued at $203,000 after acquiring an additional 16,998 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC acquired a new position in Rigetti Computing during the first quarter worth $3,115,000. 35.38% of the stock is currently owned by 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.