RigNet (RNET) Receives Media Sentiment Rating of 0.15

News coverage about RigNet (NASDAQ:RNET) has been trending somewhat positive recently, according to Accern Sentiment. The research firm identifies positive and negative press coverage by reviewing more than twenty million news and blog sources in real time. Accern ranks coverage of companies on a scale of -1 to 1, with scores closest to one being the most favorable. RigNet earned a media sentiment score of 0.15 on Accern’s scale. Accern also gave headlines about the Wireless communications provider an impact score of 46.9737205263964 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.

Here are some of the headlines that may have effected Accern Sentiment’s analysis:

A number of research analysts recently commented on the stock. BidaskClub upgraded shares of RigNet from a “sell” rating to a “hold” rating in a research note on Thursday. Maxim Group set a $19.00 price target on shares of RigNet and gave the company a “buy” rating in a research note on Tuesday, August 7th. ValuEngine lowered shares of RigNet from a “hold” rating to a “sell” rating in a research note on Friday, June 29th. Finally, Zacks Investment Research upgraded shares of RigNet from a “sell” rating to a “hold” rating in a research note on Wednesday, May 9th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $17.00.

RNET traded up $0.40 on Thursday, reaching $14.15. The company had a trading volume of 41,800 shares, compared to its average volume of 39,076. RigNet has a fifty-two week low of $10.02 and a fifty-two week high of $19.10. The firm has a market cap of $257.49 million, a P/E ratio of -19.93 and a beta of 0.96. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.75 and a current ratio of 1.75.

RigNet (NASDAQ:RNET) last announced its quarterly earnings results on Monday, August 6th. The Wireless communications provider reported ($0.06) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.10) by $0.04. RigNet had a negative net margin of 8.96% and a negative return on equity of 14.04%. The business had revenue of $60.01 million for the quarter.

In other RigNet news, insider Brendan Sullivan sold 2,000 shares of the stock in a transaction that occurred on Tuesday, August 7th. The shares were sold at an average price of $13.00, for a total transaction of $26,000.00. Following the transaction, the insider now owns 3,809 shares in the company, valued at approximately $49,517. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, major shareholder Digital Oilfield Investments L bought 58,167 shares of the firm’s stock in a transaction on Wednesday, August 15th. The shares were acquired at an average price of $13.60 per share, for a total transaction of $791,071.20. The disclosure for this purchase can be found here. Corporate insiders own 2.30% of the company’s stock.

About RigNet

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.

Further Reading: Diversification Important in Investing

Insider Buying and Selling by Quarter for RigNet (NASDAQ:RNET)

Receive News & Ratings for RigNet Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for RigNet and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply