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

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RigNet, Inc. (RNET) is headed up in the market today. The company, focused in the tech sector, is presently trading at $13.12 after tumbling -5.81% so far in today’s session. As it relates to technology companies, there are several aspects that have the potential to cause movement in the market. News tends to be one of the biggest reasons for the movement. Here are the most recent trending headlines associated with RNET:

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Mar-20-19 04:05AM Edited Transcript of RNET earnings conference call or presentation 15-Mar-19 3:00pm GMT
Mar-19-19 08:05AM RigNet and CertifiedSafety Announce Partnership to offer SmartConnect Connected Worker IIoT Solution with the IntelieLive Data Analytics Platform
Mar-16-19 04:34AM RigNet (RNET) Q4 2018 Earnings Conference Call Transcript
Mar-15-19 12:10PM RigNet Records a Big Loss in Q4 After Losing a Dispute
Mar-14-19 06:41PM RigNet: 4Q Earnings Snapshot

Nonetheless, when making a decision with regard to investing, investors should focus on much more than news, especially in the ever changing tech industry. Here’s what’s happening in regard to RigNet, Inc..

Trends That We’ve Seen From RNET

While a decline in a single session, like the fall that we’re seeing from RigNet, Inc. may cause fear in some investors, a single session fall alone shouldn’t be the reason for a decision to, or not to, invest in a stock. It is always smart to look at trends beyond a single trading session. When it comes to RNET, below are the movements that investors have experienced:

  • Past Seven Days – In the last 5 trading sessions, RNET has generated a change in price amounting to -12.71%.
  • Past 30 Days – The monthly returns from RigNet, Inc. has been -12.18%.
  • Past 3 Months – In the last quarter, the company has produced a return on investment that comes to -10.63%
  • Past Six Months – Throughout the past 6 months, investors have seen a performance that works out to -36.00% from the company.
  • Year To Date – Since the open of this year RNET has resulted in a return of 3.80%.
  • Annually – Finally, over the past year, we have seen performance that comes to -8.57% out of RNET. In this period of time, the stock has sold at a high of -45.45% and a low of 30.87%.

Ratios That Are Notable

Digging into various key ratios associated with a company generally gives prospective investors an understanding of just how dangerous and/or rewarding a pick might be. Below are some of the key ratios to look at when digging into RNET.

Short Ratio – The short ratio is a tool that’s used by investors to get an understanding of the level of short interest. As the ratio climbs, it shows that more investors are expecting that the stock is going to fall. In general, strong technology stocks can come with a lower short ratio. On the other hand, we tend to see quite a few short squeezes in the space. Nonetheless, as it relates to RigNet, Inc., the stock’s short ratio is 6.46.

Quick & Current Ratios – The quick and current ratios are tools that are used to get an idea of the company’s liquidity. Essentially, they measure whether or not a company can pay its debts as they mature using current assets or quick assets. In the tech sector, several companies rely on the continuation of investor support as they work to bring new technologies to market, the current and quick ratios can seem upsetting. Nonetheless, some good picks in the technology sector come with positive quick and current ratios. In terms of RNET, the quick and current ratios total up to 2.20 and 2.30 respectively.  

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

Cash To Share Value – The cash to share value ratio compares the total cash on hand to the price of the company’s stock. In this case, the cash to share value ratio comes to 1.01.

What Are Big Money Players Doing With RigNet, Inc.

An interesting fact I’ve come to understand so far in my brief period here has been that smart investors tend to follow big money players. So, investors that want to keep their investments relatively safe will follow trades made by institutions and insiders of the company. So, is big money interested in regard to RNET? Here’s what’s going on:

  • Institutions – At the moment, institutional investors hold 89.40% of the company. On the other hand, it is worth considering that institutional ownership has seen a move of 0.50% throughout the past 3 months.
  • Insider Holdings – When it comes to insiders, those close to the situation currently hold 0.30% of the company. Their ownership of the company has seen a change of -8.49% over the last quarter.

What Analysts Think About RigNet, Inc.

While it’s never a good idea to avoid doing your due diligence and blindly following the opinions of analysts, it is a good idea to consider their thoughts in order to validate your own thoughts when it comes to making investment decisions in the technology space. 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

Financial Performance

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

  • Analyst Expectations – At the moment, Wall Street analysts are expecting that RigNet, Inc. will create EPS coming to a total of 0.21, with -0.10 to be reported in the earnings announcement for the current quarter. Although this is not tide to earnings, because we’re chatting on the topic of Wall St. analysts, RNET is currently rated a 0 considering a scale that ranges from 1 to 5 where 1 is the poorest possible Wall St. analyst rating and 5 is the best.
  • 5-Year Sales – Over the past half decade, RigNet, Inc. has created a movement in revenue that works out to be 4.90%. Earnings per diluted share in the past half decade have seen movement in the amount of -18.50%.
  • Q/Q – In terms of quarter over quarter data, or Q/Q data as it is often referred to as in the human world, RNET has experienced a change in earnings that amounts to 35.60%. RigNet, Inc. has also experienced movement with regard to sales volume that comes to a total of 27.60%.

What You Need To Know About Share Counts

Traders and investors seem to have a heavy interest in the counts of shares both outstanding and available. When it comes to RigNet, Inc., there are currently 20.58M with a float of 14.14M. This means that out of the total of 20.58M shares of RNET in existence today, 14.14M are available to trade hands in the public space.

I also like to take a look at the short float. After all, if a high percentage of the float available for trading is shorted, the overall opinion among investors is that the company is going to lose value. As far as it relates to RNET, the percentage of the float that is sold short is 1.69%. Most investors would say that a concerning short percent of the float is considered to be anything over 40%. In my research, I have seen that a short ratio over 26% is probably going to be a a play that could prove to be very risky.

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