Rigetti Computing (NASDAQ:RGTI) Trading 5.8% Higher – Here’s What Happened

Posted by Brenda Bartman on May 20th, 2026

Rigetti Computing, Inc. (NASDAQ:RGTI – Get Free Report) shares were up 5.8% on Wednesday . The stock traded as high as $17.21 and last traded at $16.88. Approximately 26,945,609 shares were traded during mid-day trading, a decline of 10% from the average daily volume of 29,877,018 shares. The stock had previously closed at $15.96.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on RGTI shares. Rosenblatt Securities reaffirmed a “buy” rating and issued a $40.00 price target on shares of Rigetti Computing in a research note on Thursday, March 5th. Needham & Company LLC reaffirmed a “buy” rating and issued a $31.00 price target on shares of Rigetti Computing in a research note on Tuesday, May 12th. Royal Bank Of Canada downgraded shares of Rigetti Computing to a “hold” rating in a research note on Thursday, January 22nd. TD Cowen downgraded shares of Rigetti Computing from a “buy” rating to a “hold” rating in a research note on Thursday, February 12th. Finally, Wall Street Zen cut shares of Rigetti Computing from a “hold” rating to a “sell” rating in a report on Sunday, April 26th. Eight research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Rigetti Computing currently has a consensus rating of “Moderate Buy” and a consensus target price of $29.18.

Get Our Latest Stock Analysis on RGTI

Rigetti Computing Price Performance

The stock has a market capitalization of $5.61 billion, a price-to-earnings ratio of -19.40 and a beta of 1.79. The business’s fifty day moving average price is $16.54 and its 200-day moving average price is $21.18.

Rigetti Computing (NASDAQ:RGTI – Get Free Report) last issued its quarterly earnings data on Monday, May 11th. The company reported ($0.04) earnings per share (EPS) for the quarter, beating 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%. The business’s revenue was up 198.9% on a year-over-year basis. During the same period last year, the company earned ($0.05) earnings per share. Equities research analysts predict that Rigetti Computing, Inc. will post -0.19 earnings per share for the current fiscal year.

Insider Activity

In related news, CFO Jeffrey A. Bertelsen sold 4,270 shares of the business’s stock in a transaction dated Tuesday, March 10th. The shares were sold at an average price of $17.52, for a total transaction of $74,810.40. Following the transaction, the chief financial officer directly owned 175,609 shares in the company, valued at approximately $3,076,669.68. The trade was a 2.37% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CTO David Rivas sold 36,719 shares of the business’s stock in a transaction dated Tuesday, March 10th. The stock was sold at an average price of $17.52, for a total transaction of $643,316.88. Following the transaction, the chief technology officer owned 651,914 shares in the company, valued at approximately $11,421,533.28. This trade represents a 5.33% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 1.60% of the stock is currently owned by insiders.

Institutional Trading of Rigetti Computing

Hedge funds have recently added to or reduced their stakes in the stock. Danske Bank A S bought a new stake in Rigetti Computing in the third quarter worth about $30,000. Parallel Advisors LLC raised its position in Rigetti Computing by 403.2% in the third quarter. Parallel Advisors LLC now owns 1,087 shares of the company’s stock worth $32,000 after acquiring an additional 871 shares during the period. Clearstead Advisors LLC bought a new stake in Rigetti Computing in the third quarter worth about $35,000. Heritage Wealth Advisors raised its position in Rigetti Computing by 454.3% in the fourth quarter. Heritage Wealth Advisors now owns 1,164 shares of the company’s stock worth $26,000 after acquiring an additional 954 shares during the period. Finally, Larson Financial Group LLC raised its position in Rigetti Computing by 138.4% in the fourth quarter. Larson Financial Group LLC now owns 1,218 shares of the company’s stock worth $27,000 after acquiring an additional 707 shares during the period. Institutional investors own 35.38% of the company’s stock.

Rigetti Computing Company Profile

(Get Free Report)

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.