RigNet (RNET) Stock Rating Upgraded by BidaskClub

RigNet (NASDAQ:RNET) was upgraded by investment analysts at BidaskClub from a “hold” rating to a “buy” rating in a research report issued on Thursday, January 11th.

Separately, ValuEngine lowered RigNet from a “hold” rating to a “sell” rating in a research report on Friday, October 20th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $19.33.

Shares of RigNet (RNET) opened at $19.00 on Thursday. The company has a current ratio of 1.98, a quick ratio of 1.97 and a debt-to-equity ratio of 0.46. The firm has a market capitalization of $338.08, a price-to-earnings ratio of -24.05 and a beta of 0.90. RigNet has a 1 year low of $14.01 and a 1 year high of $22.91.

RigNet (NASDAQ:RNET) last issued its earnings results on Monday, November 6th. The Wireless communications provider reported ($0.14) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.07) by ($0.07). RigNet had a negative net margin of 7.05% and a negative return on equity of 11.13%. equities research analysts predict that RigNet will post -0.67 earnings per share for the current year.

Several institutional investors have recently made changes to their positions in RNET. Schwab Charles Investment Management Inc. raised its holdings in shares of RigNet by 20.8% during the second quarter. Schwab Charles Investment Management Inc. now owns 55,688 shares of the Wireless communications provider’s stock valued at $894,000 after acquiring an additional 9,585 shares during the last quarter. Alliancebernstein L.P. raised its holdings in shares of RigNet by 5.5% during the second quarter. Alliancebernstein L.P. now owns 19,250 shares of the Wireless communications provider’s stock valued at $309,000 after acquiring an additional 1,000 shares during the last quarter. AJO LP raised its holdings in shares of RigNet by 493.7% during the second quarter. AJO LP now owns 116,240 shares of the Wireless communications provider’s stock valued at $1,866,000 after acquiring an additional 96,661 shares during the last quarter. Teachers Advisors LLC raised its holdings in shares of RigNet by 7.3% during the second quarter. Teachers Advisors LLC now owns 34,126 shares of the Wireless communications provider’s stock valued at $548,000 after acquiring an additional 2,310 shares during the last quarter. Finally, TIAA CREF Investment Management LLC increased its holdings in shares of RigNet by 3.6% in the second quarter. TIAA CREF Investment Management LLC now owns 52,387 shares of the Wireless communications provider’s stock valued at $841,000 after purchasing an additional 1,812 shares during the last quarter. 92.25% of the stock is owned by institutional investors and hedge funds.

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RigNet Company Profile

RigNet, Inc (RigNet) provides customized systems and solutions serving customers with data networking and operational requirements. The Company provides voice and data network, video conferencing and monitoring, crew welfare, asset and weather monitoring, and real-time data services. It operates through two segments: Managed Services, and Systems Integration and Automation (SI&A).

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