Today RigNet, Inc. (RNET) Stock Reaches Yearly Low

May 16, 2018 - By Samual Williams

RigNet, Inc. (NASDAQ:RNET) Logo

Investors sentiment decreased to 1.19 in Q4 2017. Its down 0.37, from 1.56 in 2017Q3. It fall, as 9 investors sold RigNet, Inc. shares while 18 reduced holdings. 12 funds opened positions while 20 raised stakes. 15.91 million shares or 0.46% less from 15.98 million shares in 2017Q3 were reported.
Dimensional Fund Limited Partnership invested 0% in RigNet, Inc. (NASDAQ:RNET). Wedge Cap Management L Lp Nc invested in 19,000 shares or 0% of the stock. Deutsche Natl Bank Ag owns 29,494 shares for 0% of their portfolio. Arrowmark Colorado Holding Limited Co stated it has 2.65 million shares. 3,645 are held by Tower Research Cap Llc (Trc). Meeder Asset has invested 0% in RigNet, Inc. (NASDAQ:RNET). California State Teachers Retirement System reported 0% of its portfolio in RigNet, Inc. (NASDAQ:RNET). Invesco Limited reported 106,880 shares stake. Northern Tru reported 191,538 shares. Punch & Assoc Inv Mngmt Incorporated reported 0.49% of its portfolio in RigNet, Inc. (NASDAQ:RNET). Swiss Natl Bank holds 0% or 23,700 shares in its portfolio. Renaissance Technologies Ltd Liability accumulated 586,600 shares. Morgan Stanley holds 34,616 shares. Stone Ridge Asset Mgmt Ltd Liability reported 0.03% of its portfolio in RigNet, Inc. (NASDAQ:RNET). Stephens Management Group Lc invested in 0.18% or 525,348 shares.

Since March 19, 2018, it had 0 buys, and 3 selling transactions for $313,108 activity. On Monday, March 19 Mulloy Kevin C. sold $43,599 worth of RigNet, Inc. (NASDAQ:RNET) or 3,300 shares.

The stock of RigNet, Inc. (NASDAQ:RNET) hit a new 52-week low and has $11.87 target or 8.00 % below today’s $12.90 share price. The 6 months bearish chart indicates high risk for the $249.79 million company. The 1-year low was reported on May, 16 by Barchart.com. If the $11.87 price target is reached, the company will be worth $19.98 million less.
The 52-week low event is an important milestone for every stock because it shows very negative momentum and is time when sellers come in. During such technical setups, fundamental investors usually stay away and are careful buying the stock.

The stock increased 1.18% or $0.15 during the last trading session, reaching $12.9. About 37,763 shares traded or 30.80% up from the average. RigNet, Inc. (NASDAQ:RNET) has declined 32.66% since May 16, 2017 and is downtrending. It has underperformed by 44.21% the S&P500.

Analysts await RigNet, Inc. (NASDAQ:RNET) to report earnings on August, 6. They expect $-0.15 earnings per share, up 37.50 % or $0.09 from last year’s $-0.24 per share. After $-0.25 actual earnings per share reported by RigNet, Inc. for the previous quarter, Wall Street now forecasts -40.00 % EPS growth.

More notable recent RigNet, Inc. (NASDAQ:RNET) news were published by: Themiddlemarket.com which released: “M&A daily wrap: GTCR, TransUnion, Callcredit, Riverside, LLR, Shore Capital, Audax, Ardian” on April 20, 2018, also Seekingalpha.com with their article: “RigNet’s (RNET) CEO Steven Pickett on Q1 2018 Results – Earnings Call Transcript” published on May 13, 2018, Fool.com published: “Why RigNet Inc Stock Is Sinking Today” on May 08, 2018. More interesting news about RigNet, Inc. (NASDAQ:RNET) were released by: Nasdaq.com and their article: “RigNet Announces First Quarter 2018 Earnings Release Date and Conference Call Information” published on April 30, 2018 as well as Globenewswire.com‘s news article titled: “RigNet Announces First Quarter 2018 Earnings Results” with publication date: May 07, 2018.

RigNet, Inc. provides systems and solutions for clients with data networking and operational requirements the United States and internationally. The company has market cap of $249.79 million. The firm operates through two divisions, Managed Services; and Systems Integration and Automation. It currently has negative earnings. It offers remote communications services for offshore and onshore drilling rigs and production facilities, as well as support vessels and other remote sites; multiprotocol label switching global network services; proactive network monitoring and management through network activities centers; and systems integration services to design, assemble, install, and commission turn-key solutions for customer communications systems.

RigNet, Inc. (NASDAQ:RNET) Institutional Positions Chart

Receive News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with our FREE daily email newsletter.

Free Email Newsletter

Enter your email address below to get the latest news and analysts' ratings for your stocks with our free daily email newsletter: