Shares of RigNet Inc (NASDAQ:RNET) have earned a consensus recommendation of “Hold” from the seven research firms that are covering the company, MarketBeat reports. Two research analysts have rated the stock with a sell recommendation, four have given a hold recommendation and one has issued a buy recommendation on the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $19.00.
A number of research firms have recently weighed in on RNET. BidaskClub downgraded RigNet from a “hold” rating to a “sell” rating in a research report on Wednesday, February 7th. Wells Fargo & Co began coverage on RigNet in a research report on Tuesday, January 30th. They set a “market perform” rating and a $18.00 target price for the company. Finally, ValuEngine downgraded RigNet from a “hold” rating to a “sell” rating in a research report on Thursday, November 9th.
RigNet (NASDAQ RNET) traded down $0.15 during trading on Friday, reaching $14.00. The company’s stock had a trading volume of 15,800 shares, compared to its average volume of 30,964. 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 $257.89, a price-to-earnings ratio of -17.72 and a beta of 0.95. RigNet has a one year low of $13.70 and a one year high of $22.91.
Several hedge funds have recently added to or reduced their stakes in RNET. Ramsey Quantitative Systems bought a new stake in shares of RigNet during the fourth quarter worth $102,000. SG Americas Securities LLC bought a new stake in shares of RigNet during the fourth quarter worth $110,000. American Century Companies Inc. bought a new stake in shares of RigNet during the third quarter worth $174,000. The Manufacturers Life Insurance Company raised its position in shares of RigNet by 15.2% during the second quarter. The Manufacturers Life Insurance Company now owns 11,867 shares of the Wireless communications provider’s stock worth $190,000 after acquiring an additional 1,562 shares during the last quarter. Finally, Macquarie Group Ltd. bought a new stake in shares of RigNet during the third quarter worth $223,000. Institutional investors own 91.80% of the company’s stock.
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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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