RigNet (RNET) Getting Somewhat Favorable News Coverage, Analysis Finds

Media coverage about RigNet (NASDAQ:RNET) has trended somewhat positive recently, Accern Sentiment Analysis reports. The research group identifies positive and negative press coverage by reviewing more than twenty million blog and news sources. Accern ranks coverage of publicly-traded companies on a scale of negative one to positive one, with scores closest to one being the most favorable. RigNet earned a daily sentiment score of 0.16 on Accern’s scale. Accern also assigned headlines about the Wireless communications provider an impact score of 45.8764373410445 out of 100, meaning that recent press coverage is somewhat unlikely to have an impact on the company’s share price in the near future.

RNET has been the subject of several recent analyst reports. BidaskClub upgraded shares of RigNet from a “sell” rating to a “hold” rating in a research note on Friday, December 22nd. ValuEngine downgraded shares of RigNet from a “sell” rating to a “strong sell” rating in a report on Thursday, March 1st. Finally, Wells Fargo set a $15.00 price target on shares of RigNet and gave the company a “hold” rating in a report on Thursday, March 8th. Three research analysts have rated the stock with a sell rating and three have assigned a hold rating to the stock. RigNet currently has a consensus rating of “Hold” and an average price target of $17.00.

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Shares of RNET traded down $0.30 during trading hours on Friday, reaching $12.90. The company had a trading volume of 16,920 shares, compared to its average volume of 26,958. The company has a quick ratio of 2.11, a current ratio of 2.11 and a debt-to-equity ratio of 0.50. The company has a market capitalization of $237.37, a PE ratio of -18.17 and a beta of 0.94. RigNet has a 12-month low of $12.70 and a 12-month high of $22.91.

RigNet (NASDAQ:RNET) last announced its quarterly earnings results on Tuesday, March 6th. The Wireless communications provider reported ($0.21) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.15) by ($0.06). The company had revenue of $56.81 million during the quarter, compared to analysts’ expectations of $51.00 million. RigNet had a negative net margin of 7.92% and a negative return on equity of 11.51%. research analysts anticipate that RigNet will post -0.64 EPS for the current year.

In other RigNet news, Director Charles Louis Iv Davis sold 8,000 shares of the firm’s stock in a transaction dated Monday, March 19th. The shares were sold at an average price of $13.51, for a total transaction of $108,080.00. Following the completion of the transaction, the director now directly owns 32,313 shares in the company, valued at approximately $436,548.63. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 1.20% of the company’s stock.

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RigNet Company Profile

RigNet, Inc, a technology company, provides customized communications services, applications, and cybersecurity solutions in the United States and internationally. The company operates through three segments: Managed Services, Applications and Internet-of-Things (Apps & IoT), and Systems Integration.

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