Rigetti Computing (NASDAQ:RGTI) Trading Up 3.5% – Here’s What Happened

Posted by Geri Gentry on Aug 27th, 2026

Rigetti Computing, Inc. (NASDAQ:RGTI – Get Free Report) shot up 3.5% on Tuesday . The company traded as high as $17.24 and last traded at $16.94. Approximately 13,515,403 shares changed hands during mid-day trading, a decline of 58% from the average daily volume of 32,184,602 shares. The stock had previously closed at $16.37.

Analyst Ratings Changes

A number of equities analysts have commented on the company. Mizuho reduced their target price on Rigetti Computing from $33.00 to $27.00 and set an “outperform” rating for the company in a report on Tuesday, May 12th. Weiss Ratings lowered shares of Rigetti Computing from a “sell (d-)” rating to a “sell (e+)” rating in a report on Tuesday, August 11th. Needham & Company LLC reaffirmed a “buy” rating and set a $31.00 price target on shares of Rigetti Computing in a research report 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 note on Friday, August 7th. Finally, Zacks Research lowered Rigetti Computing from a “hold” rating to a “strong sell” rating in a research note on Wednesday, August 19th. Seven research analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, Rigetti Computing presently has a consensus rating of “Hold” and an average price target of $30.67.

Read Our Latest Stock Analysis on Rigetti Computing

Rigetti Computing Stock Up 3.2%

The company’s fifty day moving average is $17.09 and its two-hundred day moving average is $17.72. The stock has a market cap of $5.49 billion, a price-to-earnings ratio of -18.33 and a beta of 1.99.

Rigetti Computing (NASDAQ:RGTI – Get Free Report) last posted its earnings results on Thursday, August 6th. The company reported ($0.05) EPS for the quarter, meeting the consensus estimate of ($0.05). Rigetti Computing had a negative return on equity of 17.50% and a negative net margin of 2,189.54%.The firm had revenue of $5.14 million for the quarter, compared to analyst estimates of $5.09 million. Sell-side analysts predict that Rigetti Computing, Inc. will post -0.27 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CFO Jeffrey A. Bertelsen sold 3,860 shares of the stock in a transaction on Thursday, August 20th. The stock was sold at an average price of $16.89, for a total transaction of $65,195.40. Following the completion of the sale, the chief financial officer directly owned 168,067 shares of the company’s stock, valued at $2,838,651.63. This trade represents a 2.25% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CTO Andrew Joseph Bestwick sold 5,791 shares of Rigetti Computing stock in a transaction on Thursday, August 20th. The shares were sold at an average price of $16.81, for a total transaction of $97,346.71. Following the completion of the transaction, the chief technology officer owned 1,036,121 shares in the company, valued at approximately $17,417,194.01. This trade represents a 0.56% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 725,149 shares of company stock valued at $17,345,425 over the last 90 days. Insiders own 1.60% of the company’s stock.

Institutional Investors Weigh In On Rigetti Computing

Hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its holdings in shares of Rigetti Computing by 12.2% in the 4th quarter. Vanguard Group Inc. now owns 35,970,648 shares of the company’s stock valued at $796,750,000 after purchasing an additional 3,924,171 shares in the last quarter. State Street Corp lifted its position in shares of Rigetti Computing by 12.0% during the 2nd quarter. State Street Corp now owns 8,853,006 shares of the company’s stock valued at $104,997,000 after acquiring an additional 946,850 shares during the period. Geode Capital Management LLC lifted its position in shares of Rigetti Computing by 2.6% during the 4th quarter. Geode Capital Management LLC now owns 7,879,325 shares of the company’s stock valued at $174,930,000 after acquiring an additional 196,891 shares during the period. California State Teachers Retirement System boosted its stake in shares of Rigetti Computing by 1,861.8% during the 2nd quarter. California State Teachers Retirement System now owns 7,414,688 shares of the company’s stock worth $143,252,000 after acquiring an additional 7,036,733 shares in the last quarter. Finally, UBS Group AG grew its holdings in shares of Rigetti Computing by 90.9% in the 3rd quarter. UBS Group AG now owns 3,081,174 shares of the company’s stock worth $91,788,000 after acquiring an additional 1,467,483 shares during the period. Institutional investors and hedge funds 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.