Rigetti Computing (NASDAQ:RGTI) Stock Price Down 2.5% – Here’s What Happened

Rigetti Computing, Inc. (NASDAQ:RGTI)’s share price fell 2.5% during mid-day trading on Thursday . The stock traded as low as $14.67 and last traded at $14.85. 18,479,526 shares traded hands during mid-day trading, a decline of 46% from the average daily volume of 34,244,516 shares. The stock had previously closed at $15.23.

Rigetti Computing News Roundup

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

Rigetti Computing Stock Performance

The firm’s 50-day moving average is $19.65 and its 200 day moving average is $18.72. The stock has a market cap of $4.70 billion, a PE ratio of -16.26 and a beta of 1.95.

Rigetti Computing (NASDAQ:RGTI) last issued its quarterly earnings results on Monday, May 11th. The company reported ($0.04) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.01. The firm had revenue of $4.40 million during the quarter, compared to analysts’ expectations of $4.09 million. Rigetti Computing had a negative net margin of 2,789.71% and a negative return on equity of 10.40%. Rigetti Computing’s quarterly revenue was up 198.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.05) EPS. On average, sell-side analysts predict that Rigetti Computing, Inc. will post -0.22 EPS for the current fiscal year.

Insider Transactions at Rigetti Computing

In related news, Director Ray O. Johnson sold 84,944 shares of the firm’s stock in a transaction dated Monday, June 22nd. The stock was sold at an average price of $20.55, for a total transaction of $1,745,599.20. Following the transaction, the director owned 95,537 shares of the company’s stock, valued at $1,963,285.35. This trade represents a 47.07% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Jeffrey A. Bertelsen sold 3,682 shares of the business’s 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 in the company, valued at $3,945,724.65. This trade represents a 2.10% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last quarter, insiders sold 728,901 shares of company stock worth $17,546,343. Company insiders own 1.60% of the company’s stock.

Institutional Investors Weigh In On Rigetti Computing

Large investors have recently modified their holdings of the stock. Vanguard Group Inc. lifted its holdings in shares of Rigetti Computing by 12.2% during the fourth quarter. Vanguard Group Inc. now owns 35,970,648 shares of the company’s stock worth $796,750,000 after purchasing an additional 3,924,171 shares during the period. State Street Corp raised its position in Rigetti Computing by 12.0% during the 2nd quarter. State Street Corp now owns 8,853,006 shares of the company’s stock worth $104,997,000 after buying an additional 946,850 shares during the last quarter. Geode Capital Management LLC raised its position in Rigetti Computing by 2.6% during the 4th quarter. Geode Capital Management LLC now owns 7,879,325 shares of the company’s stock worth $174,930,000 after buying an additional 196,891 shares during the last quarter. UBS Group AG raised its position in Rigetti Computing by 90.9% during the 3rd quarter. UBS Group AG now owns 3,081,174 shares of the company’s stock worth $91,788,000 after buying an additional 1,467,483 shares during the last quarter. Finally, Northern Trust Corp lifted its stake in shares of Rigetti Computing by 16.3% in the 3rd quarter. Northern Trust Corp now owns 2,846,095 shares of the company’s stock worth $84,785,000 after acquiring an additional 397,905 shares during the period. Hedge funds and other institutional investors own 35.38% of the company’s stock.

Rigetti Computing Company Profile

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.