RigNet, Inc. (RNET) Stock: A Good Pick In The technology Space?

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RigNet, Inc. (RNET) is falling in the market today. The company, one that is focused in the tech sector, is currently trading at $5.54 after tumbling -6.20% so far in today’s session. As it relates to tech companies, there are quite a few factors that have the ability to generate price movement in the market. News tends to be one of the biggest reasons for the movement. Here are the recent headlines relating to RNET:

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Oct-28-19 08:05AM RigNet Announces Third Quarter 2019 Earnings Release Date and Earnings Call Information
Oct-22-19 08:05AM RigNet Accelerates Growth in Gulf of Mexico Operations with Opening of New Office in Lafayette, Louisiana Metropolitan Area
Oct-17-19 09:52AM Did You Manage To Avoid RigNet’s (NASDAQ:RNET) Devastating 85% Share Price Drop?
Oct-02-19 08:05AM FCC Commissioner Brendan Carr Meets with Executives from T-Mobile and RigNet
Sep-17-19 10:22AM Do Institutions Own Shares In RigNet, Inc. (NASDAQ:RNET)?

Nonetheless, any time investors are making a decision with regard to investing, prospective investors should focus on far more than just news, this is especially the case in the ever evolving technology sector. Here’s what’s going on with RigNet, Inc..

Recent Moves From RNET

While a single session decline, like what we’re seeing from RigNet, Inc. might cause fear in some investors, a single session fall by itself shouldn’t be the basis of a decision to, or not to, buy a company’s stock. It is generally smart to dig into trends experienced by the stock further out than a single trading session. In the case of RNET, here are the trends that investors have experienced:

  • Weekly – Over the last seven days, RNET has generated a change in price in the amount of -1.01%.
  • Monthly – The monthly ROI from RigNet, Inc. comes to -23.74%.
  • Past Three Months – Over the past quarter, the stock has produced a ROI that comes to -32.30%
  • Past Six Months – Throughout the last six months, we’ve seen a change that works out to -38.37% from the company.
  • YTD – Since the close of last year RNET has generated a return on investment of -53.24%.
  • Annually – Finally, in the past year, we’ve seen a change amounting to -64.05% from RNET. Over this period of time, the stock has sold at a high price of -71.05% and a low price of 16.46%.

Notable Ratios

Looking at a few ratios associated with a company can provide prospective investors a look of just how dangerous and/or rewarding a an investment option might be. Below are a few of the key ratios to consider when looking at RNET.

Short Ratio – The short ratio is a measure of short interest. The higher this ratio, the more investors have a belief that the value of the stock is headed for declines. Throughout the sector, strong tech stocks can carry a lower short ratio. On the other hand, we also tend to see quite a few short squeezes in the space. Nonetheless, with regard to RigNet, Inc., it’s short ratio amounts to 9.20.

Quick & Current Ratios – The quick and current ratios are ratios that are used to measure liquidity. Essentially, they measure If a company is able to pay its debts as they mature with only current assets or quick assets. Because in tech, companies rely on continued investor support as they work to bring new technologies to market, the current and quick ratios can seem upsetting. However, several better companies in the tech space do have strong current and quick ratios. When it comes to RNET, the quick and current ratios come to 1.20 and 1.30 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 particular case, that ratio works out to 2.38.

Cash To Share Value – Finally, the cash to share value ratio compares the total 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 ratio comes to 0.55.

Moves From Big Money Players

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 84.90% of the company. Institutional interest has moved by -0.16% over the past three months. When it comes to insiders, those who are close to the company currently own 1.40% percent of RNET shares. Institutions have seen ownership changes of an accumulative 0.00% over the last three months.

What Analysts Think About RigNet, Inc.

Although it’s rarely a smart idea to avoid doing your due diligence and blindly following the opinions of analysts, it is a good idea to consider their analysis when validating your own opinions before making an investment decision in the tech industry. Below are the most recent moves that we have seen from analysts as it relates to RNET.

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Oct-16-19 Initiated National Securities Buy
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

Financial Results And Expectations

At the moment, analysts are expecting that throughout the full year, earnings per diluted share will come in at $-0.15. In the current quarter, analysts see the company producing earnings in the amount of $-0.05. Over the last 5 years, RNET has generated revenue in the amount of $1.60% with earnings coming in at -40.50%. On a quarter over quarter basis, earnings have seen movement of -38.90% and revenue has seen movement of 0.50%.

What’s The Float Looking Like?

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 19.96M 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 14.59M.

I also like to take a look at the short percent. After all, when a high percentage of the float available for trading is sold short, the overall opinion in the market is that the company is headed for a dive. As far as it relates to RNET, the percentage of the float that is sold short is 2.57%. In general, concerning short percent of the float would be any percentage over 40%. However, I’ve found that anything over 26% is generally a a play that could prove to be very risky.

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