RigNet, Inc. (RNET) Stock: Seeing Gains In Today’s Session

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RigNet, Inc. (RNET) is making a move up in the market in today’s trading session. The company, focused in the technology space, is currently priced at $5.82 after heading up 10.86% so far in today’s session. As it relates to tech stocks, there are several factors that have the potential to lead to price movement in the market. One of the most common is news. Here are the recent trending headlines surrounding RNET:

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Nov-08-19 08:30PM Edited Transcript of RNET earnings conference call or presentation 8-Nov-19 4:00pm GMT
Nov-07-19 04:28PM RigNet Announces Third Quarter 2019 Earnings Results
Nov-05-19 08:05AM RigNet Signs Multi-Year Agreement with Brazilian Operators Offering Managed Communications on Floating Production Storage and Offloading (FPSO) Installations
Nov-04-19 08:05AM RigNet Signs Strategic Agreement with BP for Intelie Live
Oct-28-19 08:05AM RigNet Announces Third Quarter 2019 Earnings Release Date and Earnings Call Information

Nonetheless, when making a decision to invest, prospective investors should look at much more than just news, this is especially the case in the ever changing tech sector. Here’s what’s happening with RigNet, Inc..

The Performance That We’ve Seen From RNET

Although a move up on a single session, like the gain that we’re seeing from RigNet, Inc. might make some investors jump for joy, a single session move by itself shouldn’t be the reason for a decision to, or not to, buy a company’s stock. It’s always smart to look into trends experienced by the stock further out than a single session. When it comes to RNET, here are the trends that investors have experienced:

  • Past Seven Days – Throughout the last 7 days, RNET has seen a price change in the amount of 16.63%.
  • Past 30 Days – The monthly performance from RigNet, Inc. comes to -16.26%.
  • Quarterly – Over the last three months, the company has produced a return of -21.46%
  • Bi-Annually – Throughout the last six months, investors have seen a performance that equates to -36.94% from the stock.
  • YTD – Since the the last trading session of last year RNET has generated a return of -53.96%.
  • Full Year – Lastly, over the last year, we have seen performance amounting to -68.73% out of RNET. Throughout this period, the stock has sold at a high price of -69.61% and a low of 22.27%.

Rations That Investors Should Consider

Looking at a few key ratios having to do with a stock can give traders an understanding of just how risky and/or rewarding a stock pick may be. Here are some of the most important ratios to think about when looking at RNET.

Short Ratio – The short ratio is a measure of short interest. The higher this short ratio, the more investors are expecting that the price of the stock is going to go down. In general, strong tech stocks tend to have a lower short ratio. However, we tend to see a lot of short squeezes in the sector. Nonetheless, in relation to RigNet, Inc., the stock’s short ratio comes to 9.64.

Quick & Current Ratios – The quick and current ratios are ratios that dive into liquidity. Basically, they measure the company’s abilities to cover its debts when they mature based on current assets or quick assets. In the tech sector, companies are heavily reliant on continued investor support as they work to bring new technologies to market, the current and quick ratios can be bad. Nonetheless, several good picks in the tech industry do have strong quick and current ratios. When it comes to RNET, the quick and current ratios work out to 1.20 and 1.30 respectively.  

Book To Share Value – The book to share value compares the current book value of assets currently owned by the company to the price of shares. In this particular case, the book to share value ratio works out to 2.38.

Cash To Share Value – The cash to share value comparison compares the total amount of cash the company has on hand to the value of shares. When it comes to RNET, the cash to share value is 0.61.

Investors Tend To Follow The Big Money

An interesting fact that I’ve come to understand so far in my brief period here has been that smart money tends to follow the moves made by big money. In other words, investors that want to keep the risk down will keep an eye on investments made by institutions and those on the inside. With that said, is big money interested when it comes to RNET? Here’s the information:

Institutions own 84.90% of the company. Institutional interest has moved by -0.14% over the past three months. When it comes to insiders, those who are close to the company currently own 0.40% 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.

While it’s rarely a smart idea to avoid doing your DD and blindly following the opinions of analysts, it is a smart idea to use their opinions in order to validate your own thoughts before making an investment decision in the technology sector. Here are the recent moves that we’ve seen from analysts with regard 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

Earnings

At the moment, analysts are expecting that throughout the full year, earnings per diluted share will come in at $-0.24. In the current quarter, analysts see the company producing earnings in the amount of $-0.13. 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%.

Interested In How Many Shares Are Available?

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 18.01M 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.

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 2.70%.

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