Full Breakdown
Rigetti Computing Faces Decline Amid Broader Tech Selloff
2/13/2026, 11:59:45 AM
Overview of the Stock's Performance
Rigetti Computing Inc (NASDAQ:RGTI) experienced a notable decline in its stock price, falling 8.25% to $15.07 amid a broader selloff in the technology sector. This downturn coincided with the Nasdaq's 1.68% drop and the S&P 500's 1.05% decrease, indicating a challenging environment for tech stocks overall.
Short Interest and Market Sentiment
The short interest in Rigetti Computing has risen, increasing from 43.24 million shares to 45.46 million shares, which represents 13.84% of the company's publicly available shares. Given the recent average trading volume of 33.84 million shares per day, it would take approximately 1.34 days for short sellers to cover their positions without significantly impacting the stock price.
Technical Analysis
From a technical perspective, Rigetti's stock is trading 27.2% below its 20-day simple moving average (SMA) and 48.7% below its 100-day SMA, indicating a bearish trend in the short to medium term. The stock's current position is closer to its 52-week lows than its highs, reflecting ongoing volatility. The Relative Strength Index (RSI) stands at 35.02, suggesting neutral momentum, while the Moving Average Convergence Divergence (MACD) is below its signal line, further indicating bearish pressure.
Earnings Outlook
Looking ahead, Rigetti Computing's next major catalyst will be its earnings report scheduled for March 4, 2026. Analysts estimate a loss of 4 cents per share, an improvement from a loss of 8 cents year-over-year, with revenue expectations set at $2.46 million, up from $2.27 million year-over-year. The stock currently holds a Buy rating with an average price target of $25.91.
Analyst Ratings
Recent analyst actions reflect a positive outlook for Rigetti Computing. B. Riley Securities upgraded the stock to Buy while maintaining a target price of $35.00 on January 22, 2023. Similarly, Wedbush rated the stock as Outperform, raising its target to $40.00 on January 21, 2023, and Rosenblatt also maintained a Buy rating with a target of $40.00.
Conclusion
As Rigetti Computing navigates a challenging market environment characterized by broader tech selloffs, the company's stock performance remains under scrutiny. The upcoming earnings report and analyst ratings will be critical in shaping investor sentiment and determining the stock's trajectory in the near future.
