RigNet, Inc. (RNET) Stock: Why It’s Down

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RigNet, Inc. (RNET) is falling in the market in today’s trading session. The stock, one that is focused in the technology sector, is currently priced at $8.55 after heading down -10.47% so far today. In terms of technology companies, there are quite a few factors that have the ability to generate movement in the market. News is one of the most common reasons for movement. Here are the recent headlines surrounding RNET:

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Jul-12-19 02:59PM Before You Buy RigNet, Inc. (NASDAQ:RNET), Consider Its Volatility
Jun-24-19 07:00AM RigNet Announces Settlement of Inmarsat Arbitration
Jun-20-19 08:23AM Bardasz Announces Partnership With RigNet For Data-Driven Oil And Gas
08:05AM Bardasz Signs Agreement to Become a Regional Provider of RigNets Intelie Suite of AI- Based Solutions for Oil and Gas Customers
Jun-14-19 03:13PM Why RigNet Stock Is Slumping Today

However, when making a decision to invest, investors should look into far more than just news, especially in the ever changing technology space. Here’s what’s happening in regard to RigNet, Inc..

Recent Moves From RNET

While a decline in a single session, like the fall that we’re seeing from RigNet, Inc. may make some investors fearful, a single session fall by itself should not be the reason for a decision to, or not to, invest in a company. It’s generally important to look into trends experienced by the stock beyond a single trading session. As it relates to RNET, here are the trends that investors have seen:

  • Weekly – In the last 5 trading sessions, RNET has seen a change in value that amounts to -16.42%.
  • Monthly – The monthly returns from RigNet, Inc. comes to 2.40%.
  • Quarterly – Throughout the last quarter, the stock has generated a return that works out to -16.01%
  • Past 6 Months – Throughout the last 6 months, investors have seen a performance that works out to -40.13% from the stock.
  • This Year So Far – Since the the first trading session of this year RNET has resulted in a return on investment of -32.36%.
  • Full Year – Lastly, in the past full year, we’ve seen movement that comes to -23.83% out of RNET. Over this period, the stock has traded at a high of -64.45% and a low of 18.42%.

Ratios Worth Paying Attention To

Looking at a few key ratios having to do with a company generally gives traders a view of how risky and/or potentially profitable a an investment option might be. Here are some of the important ratios to look at when digging into RNET.

Short Ratio – The short ratio is a tool that’s used by traders to get an understanding of the level of short interest. As the ratio goes higher, it shows that more investors are expecting that the stock is headed for declines. Throughout the sector, strong technology stocks tend to have a lower short ratio. However, we also see quite a few short squeezes in the space. Nonetheless, in regard to RigNet, Inc., the stock’s short ratio amounts to 4.96.

Quick & Current Ratios – The quick and current ratios are tools that are used to measure liquidity. Basically, they measure whether or not a company can pay for its debts when they come due using quick assets or current assets. Because in tech, companies rely heavily on continued support from investors as they work to bring new technologies to market, the quick and current ratios can be damning. However, quite a few gems in the technology space do have great quick and current ratios. As far as RNET, the quick and current ratios come to 0.90 and 0.90 respectively.  

Book To Share Value – The book to share value compares the the price of shares to the current book value of assets that are owned by the company. In this case, the book to share value ratio is 2.49.

Cash To Share Value – The cash to share value ratio compares the amount of cash the company has on hand to the value of the company’s stock. In terms of RNET, the cash to share value works out to 0.98.

What Are Big Money Players Doing With RigNet, Inc.

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 88.00% of the company. Institutional interest has moved by 0.03% over the past three months. When it comes to insiders, those who are close to the company currently own 1.70% percent of RNET shares. Institutions have seen ownership changes of an accumulative 0.00% over the last three months.

Analyst Opinions With Regard To RigNet, Inc.

Although it’s not a smart idea to blindly follow the opinions of analysts, it is a good idea to consider their analysis in order to validate your own opinions before making investment decisions in the technology industry. Below you’ll find the most recent moves that we have seen from analysts as it relates 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 Results And Expectations

What have ween seen from RNET in terms of financial results?Here’s what we’ve seen and what’s coming:

  • Analyst Expectations – As it stands, Wall Street analysts are expecting that RigNet, Inc. will generate EPS that totals up to be 0.10, with -0.11 being announced in the earnings announcement for the current quarter. Although this data is not earnings driven, because we’re talking on the topic of analysts, RigNet, Inc. is currently graded as a 0 considering a scale that ranges from 1 to 5 where 1 is the worst average Wall Street analyst rating and 5 is the best possible.
  • 5-Year Sales – In the last 5 years, RigNet, Inc. has announced a change in sales volume that works out to be 1.60%. Earnings through the past half decade have experienced a change of -40.50%.
  • Q/Q – when it comes to quarter over quarter data, or Q/Q data as it is often explained in the human world, RigNet, Inc. has seen a change in earnings that amounts to -106.50%. RNET has also moved the needle in terms of sales volume that totals 6.90%.

What’s Going On With Share Counts?

Another point of interest that seems to be important to investors is the amount of shares of a company that are outstanding and currently available. At the moment, there are 19.11M shares of RigNet, Inc. outstanding. Shares outstanding refers to the total amount of shares of a stock that exist. As far as the float goes, or the amount of shares that are actually available on the retail market, RNET has a float of 14.33M.

Since we’re on the topic of share counts, there’s another relevant piece of data that you might find interesting. That would be the short percentage of the float. Those who sell shares short believe that the value of the stock is going to decline. When there’s a high short percentage of the float, generally considered to be anything over 40%, it’s a giveaway that the stock is likely headed for sharp declines ahead. Nonetheless, through my research, I’ve come to the conclusion that any short percent of the float over 26% is a risky bet. When it comes to RNET, the short percent of the float is 2.31%.

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