RigNet (RNET) Receiving Somewhat Positive Media Coverage, Accern Reports
News articles about RigNet (NASDAQ:RNET) have been trending somewhat positive this week, Accern reports. The research firm identifies negative and positive news coverage by reviewing more than 20 million blog and news sources in real-time. Accern ranks coverage of companies on a scale of -1 to 1, with scores nearest to one being the most favorable. RigNet earned a coverage optimism score of 0.04 on Accern’s scale. Accern also assigned media stories about the Wireless communications provider an impact score of 46.5870637624172 out of 100, indicating that recent news coverage is somewhat unlikely to have an impact on the stock’s share price in the near future.
A number of equities research analysts recently issued reports on RNET shares. Piper Jaffray Companies set a $17.00 price target on RigNet and gave the stock a “hold” rating in a research report on Wednesday. ValuEngine raised RigNet from a “sell” rating to a “hold” rating in a research report on Monday, July 24th. Zacks Investment Research raised RigNet from a “sell” rating to a “hold” rating in a research report on Wednesday, July 19th. Simmons upped their target price on RigNet from $17.00 to $19.00 and gave the stock a “neutral” rating in a research note on Monday, July 3rd. Finally, BidaskClub cut RigNet from a “hold” rating to a “sell” rating in a research note on Wednesday. One research analyst has rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $19.50.
Shares of RigNet (RNET) traded up 1.37% on Friday, hitting $14.80. The stock had a trading volume of 39,276 shares. The company’s market capitalization is $269.64 million. The firm has a 50-day moving average of $17.48 and a 200 day moving average of $18.29. RigNet has a 1-year low of $11.98 and a 1-year high of $23.90.
RigNet (NASDAQ:RNET) last issued its quarterly earnings data on Monday, August 7th. The Wireless communications provider reported ($0.24) EPS for the quarter, missing the consensus estimate of ($0.06) by $0.18. The firm had revenue of $49.16 million for the quarter, compared to the consensus estimate of $49.37 million. RigNet had a negative net margin of 5.69% and a negative return on equity of 9.98%. The business’s revenue was down 10.5% on a year-over-year basis. During the same period last year, the company posted ($0.27) earnings per share. On average, equities analysts anticipate that RigNet will post ($0.22) earnings per share for the current fiscal year.
In related news, Director Charles Louis Iv Davis sold 1,750 shares of the stock in a transaction dated Wednesday, May 24th. The shares were sold at an average price of $16.87, for a total value of $29,522.50. Following the completion of the transaction, the director now directly owns 43,313 shares of the company’s stock, valued at $730,690.31. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 1.20% of the stock is owned by corporate insiders.
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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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