RigNet, Inc. (RNET) Stock: Here’s What’s Happening

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RigNet, Inc. (RNET) is headed up in the market in today’s trading session. The company, focused on the technology space, is presently priced at $14.20 after a move down of -5.71% so far today. When it comes to technology companies, there are several aspects that have the potential to cause price movement in the market. News tends to be one of the biggest reasons for the movement. Here are the most recent stories centered around RNET:

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Mar-16-19 04:34AM RigNet (RNET) Q4 2018 Earnings Conference Call Transcript
Mar-15-19 10:30PM Edited Transcript of RNET earnings conference call or presentation 15-Mar-19 3:00pm GMT
12:10PM RigNet Records a Big Loss in Q4 After Losing a Dispute
Mar-14-19 06:41PM RigNet: 4Q Earnings Snapshot
05:02PM RigNet Announces Fourth Quarter and Full Year 2018 Earnings Results

Nonetheless, any time investors are making a decision to invest, investors should focus on much more than news, this is especially the case in the ever (changing|evolving) technology space. Here’s what’s happening with RigNet, Inc..

What We’ve Seen From RNET

Although a decline in a single session, like what we’re seeing from RigNet, Inc. may lead to fear in some investors, that by itself should not be the reason for a decision to, or not to, invest in a stock. It is generally a good idea to look into trends experienced by the stock further out than a single trading session. When it comes to RNET, below are the movements that investors have seen:

  • Past Seven Days – Over the last 7 days, RNET has produced a change in value in the amount of -1.46%.
  • Past 30 Days – The return from RigNet, Inc. throughout the past month works out to -3.07%.
  • Quarterly – In the last 3 months, the stock has produced a ROI that comes to -4.57%
  • Past 6 Months – Over the previous six months, we have seen a change of -36.89% from the stock.
  • Year To Date – Since the the first trading session of this year RNET has produced a return of 12.34%.
  • Annually – Finally, over the last year, investors have seen a change that comes to -1.73% from RNET. In this period, the stock has traded at a high price of -40.96% and a low of 41.65%.

Ratios To Pay Attention To

Digging into various key ratios having to do with a stock can provide traders an understanding of just how risky and/or potentially profitable a an investment option may be. Here are some of the key ratios to consider when looking at RNET.

Short Ratio – The short ratio is a tool that’s used by traders to measure the level of short interest. As the ratio goes higher, it shows that more investors believe that the price of the stock is headed for declines. Throughout the sector, strong tech stocks tend to come with a lower short ratio. On the other hand, we tend to see quite a few short squeezes in the sector. Nonetheless, with regard to RigNet, Inc., it’s short ratio comes to 6.41.

Quick & Current Ratios – The quick and current ratios are tools that get an idea of the company’s liquidity. Essentially, they measure the company’s abilities to cover its debts when they mature with only current assets or quick assets. In the tech sector, many companies rely on continued investor support as they work to bring new technologies to market, the current and quick ratios can look bad. However, several better companies in the technology industry come with positive quick and current ratios. As far as RNET, the quick and current ratios add up to 2.20 and 2.30 respectively.  

Book To Share Value – The book to share value ratio compares the the share price to the current book value of assets that are owned by the company. In this case, the book to share value ratio is 5.57.

Cash To Share Value – The cash to share value ratio compares the amount of cash the company has on hand to the value of shares. In this case, the cash to share value ratio comes to 1.01.

Smart Money Follows Big Money

Humans that are into investing seem to be infatuated with the term “Smart money follows big money.” It makes sense. Big money became big money by making smart decisions in the market. So, by following the moves of big money institutions and insiders, we can get a glimpse of what market pros think about a stock. When it comes to big money interest in RNET, here’s what we’re seeing:

Institutions own 89.40% of the company. Institutional interest has moved by 0.50% over the past three months. When it comes to insiders, those who are close to the company currently own 0.30% percent of RNET shares. Institutions have seen ownership changes of an accumulative -8.49% over the last three months.

What Analysts Say About RigNet, Inc.

While it’s never a good idea to blindly follow the thoughts of analysts, it is a good idea to use their opinions to validate your own opinions before making an investment decision in the technology sector. Below are|Here are} the recent moves that we have seen from analysts with regard to RNET.

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Sep-07-18 Reiterated Maxim Group Buy $20 → $24
Jan-30-18 Initiated Wells Fargo Market Perform
Jun-28-16 Upgrade Sidoti Neutral → Buy
Nov-10-15 Downgrade Sidoti Buy → Neutral
Aug-31-15 Initiated Sidoti Buy $35

Earnings

What have ween seen from RNET in terms of financial results?Here’s the information:

  • Analyst Expectations – As it stands, Wall Street analysts expect that the company will report earnings per diluted share that comes to 0.21, with -0.10 to be reported in the earnings report for the current quarter. Although this data isn’t based on earnings, because we are talking about analysts, RNET is currently rated a 0 on a scale from 1 to 5 where 1 is the poorest possible Wall Street analyst rating and 5 is the best rating.
  • 5-Year Sales – Over the past 5 years, RigNet, Inc. has reported a change in sales volume that adds up to 4.90%. Earnings per diluted share over the past 5 years have generated movement in the amount of -18.50%.
  • Quarter Over Quarter – when it comes to quarter over quarter data, or Q/Q data as it is commonly represented in the world of humans, the company has experienced a change in earnings that amounts to 35.60%. RigNet, Inc. has also experienced a change in regard to sales volume in the amount of 27.60%.

What’s Going On With Share Counts?

Investors seem to be interested in the total numbers of shares both outstanding and available. As it relates to RigNet, Inc., currently there are 20.58M with a float of 14.14M. These numbers mean that out of the total of 20.58M shares of RNET in existence today, 14.14M are available to trade hands in the public realm.

I also like to follow the short percent. Think about it, when a large portion of the float available for trading is shorted, the overall feeling in the market is that the equity is headed for a dive. With regard to RNET, the short percentage of the float is currently 1.69%. In general, high short percent of the float is anything over 40%. In my research, I have found that anything over 26% is likely a play that comes with hefty risk.

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