News headlines about RigNet (NASDAQ:RNET) have trended somewhat positive this week, Accern reports. Accern ranks the sentiment of media coverage by analyzing more than twenty million blog and news sources in real-time. Accern ranks coverage of public companies on a scale of negative one to one, with scores closest to one being the most favorable. RigNet earned a media sentiment score of 0.17 on Accern’s scale. Accern also gave news stories about the Wireless communications provider an impact score of 45.9771365208679 out of 100, indicating that recent media coverage is somewhat unlikely to have an effect on the stock’s share price in the immediate future.
Several research firms have recently weighed in on RNET. BidaskClub downgraded shares of RigNet from a “sell” rating to a “strong sell” rating in a research report on Monday, May 14th. Maxim Group set a $19.00 target price on shares of RigNet and gave the stock a “buy” rating in a research report on Tuesday, July 31st. ValuEngine downgraded shares of RigNet from a “hold” rating to a “sell” rating in a research report on Friday, June 29th. Finally, Zacks Investment Research raised shares of RigNet from a “sell” rating to a “hold” rating in a research report on Wednesday, May 9th. One analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company’s stock. RigNet currently has a consensus rating of “Hold” and an average target price of $17.00.
Shares of RigNet stock traded up $0.50 during trading on Wednesday, hitting $18.35. The stock had a trading volume of 6,498 shares, compared to its average volume of 57,616. The company has a market cap of $315.57 million, a P/E ratio of -25.42 and a beta of 1.42. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.75 and a quick ratio of 1.75. RigNet has a 1 year low of $10.02 and a 1 year high of $19.10.
RigNet (NASDAQ:RNET) last released its earnings results on Monday, August 6th. The Wireless communications provider reported ($0.06) earnings per share for the quarter, topping the consensus estimate of ($0.10) by $0.04. The business had revenue of $60.01 million for the quarter. RigNet had a negative net margin of 8.96% and a negative return on equity of 14.04%.
In related news, insider Brendan Sullivan sold 2,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 7th. The shares were sold at an average price of $13.00, for a total transaction of $26,000.00. Following the transaction, the insider now directly owns 3,809 shares of the company’s stock, valued at $49,517. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Digital Oilfield Investments L acquired 47,205 shares of the stock in a transaction that occurred on Tuesday, August 28th. The shares were bought at an average cost of $15.98 per share, for a total transaction of $754,335.90. The disclosure for this purchase can be found here. Over the last three months, insiders bought 257,392 shares of company stock worth $3,829,491. 2.30% of the stock is currently owned by insiders.
RigNet, Inc, a technology company, provides customized communications services, applications, and cybersecurity solutions in the United States and internationally. The company operates through three segments: Managed Services, Applications and Internet-of-Things (Apps & IoT), and Systems Integration.
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