Rigetti Computing (NASDAQ:RGTI) Trading Down 8.6% – Here’s Why

Posted by Francis Steltz on Aug 24th, 2026

Rigetti Computing, Inc. (NASDAQ:RGTI – Get Free Report)’s share price dropped 8.6% during mid-day trading on Monday . The stock traded as low as $16.31 and last traded at $16.37. Approximately 21,587,908 shares changed hands during mid-day trading, a decline of 33% from the average daily volume of 32,299,826 shares. The stock had previously closed at $17.91.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on RGTI. Mizuho decreased their price target on Rigetti Computing from $33.00 to $27.00 and set an “outperform” rating for the company in a research note on Tuesday, May 12th. Jefferies Financial Group reissued a “hold” rating and set a $18.00 target price on shares of Rigetti Computing in a research report on Friday, August 7th. Rosenblatt Securities restated a “buy” rating and issued a $40.00 price target on shares of Rigetti Computing in a research report on Friday, August 7th. Wedbush initiated coverage on shares of Rigetti Computing in a research note on Monday, August 3rd. They set an “outperform” rating and a $40.00 target price for the company. Finally, Needham & Company LLC restated a “buy” rating and issued a $31.00 target price on shares of Rigetti Computing in a report on Tuesday, May 12th. Seven analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $30.67.

Check Out Our Latest Stock Analysis on Rigetti Computing

Rigetti Computing Stock Performance

The business has a 50 day simple moving average of $17.38 and a 200-day simple moving average of $17.73. The firm has a market cap of $5.46 billion, a price-to-earnings ratio of -18.19 and a beta of 1.99.

Rigetti Computing (NASDAQ:RGTI – Get Free Report) last posted its quarterly earnings data on Thursday, August 6th. The company reported ($0.05) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.05). The firm had revenue of $5.14 million for the quarter, compared to the consensus estimate of $5.09 million. Rigetti Computing had a negative net margin of 2,189.54% and a negative return on equity of 17.50%. As a group, research analysts anticipate that Rigetti Computing, Inc. will post -0.27 earnings per share for the current year.

Insider Activity

In other Rigetti Computing news, COO David Rivas sold 9,038 shares of Rigetti Computing stock in a transaction that occurred on Thursday, August 20th. The shares were sold at an average price of $16.79, for a total transaction of $151,748.02. Following the transaction, the chief operating officer owned 316,907 shares of the company’s stock, valued at $5,320,868.53. This trade represents a 2.77% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Ray O. Johnson sold 84,944 shares of Rigetti Computing stock in a transaction on Monday, June 22nd. The stock was sold at an average price of $20.55, for a total value of $1,745,599.20. Following the sale, the director owned 95,537 shares in the company, valued at $1,963,285.35. The trade was a 47.07% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 725,149 shares of company stock worth $17,345,425. Corporate insiders own 1.60% of the company’s stock.

Institutional Trading of Rigetti Computing

Several hedge funds have recently made changes to their positions in RGTI. Royal Bank of Canada increased its holdings in Rigetti Computing by 106.2% in the 1st quarter. Royal Bank of Canada now owns 220,701 shares of the company’s stock worth $1,748,000 after acquiring an additional 113,644 shares during the last quarter. AQR Capital Management LLC boosted its position in Rigetti Computing by 138.9% during the first quarter. AQR Capital Management LLC now owns 81,047 shares of the company’s stock worth $642,000 after purchasing an additional 47,115 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of 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 worth $890,000 after purchasing an additional 22,770 shares in the last quarter. NewEdge Advisors LLC increased its stake in shares of Rigetti Computing by 197.8% in the first quarter. NewEdge Advisors LLC now owns 25,592 shares of the company’s stock worth $203,000 after purchasing an additional 16,998 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC bought a new stake in shares of Rigetti Computing in the first quarter valued at approximately $3,115,000. 35.38% of the stock is currently owned by institutional investors.

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.