RigNet, Inc. (RNET) Hit 1 Year Low

May 16, 2018 - By Marguerite Chambers

RigNet, Inc. (NASDAQ:RNET) Logo

Investors sentiment decreased to 1.19 in Q4 2017. Its down 0.37, from 1.56 in 2017Q3. It worsened, as 9 investors sold RigNet, Inc. shares while 18 reduced holdings. 12 funds opened positions while 20 raised stakes. 15.91 million shares or 0.46% less from 15.98 million shares in 2017Q3 were reported.
Rhumbline Advisers has 11,948 shares. Schwab Charles Investment Mgmt Inc owns 60,638 shares for 0% of their portfolio. Renaissance Techs Ltd Liability Corporation has 0.01% invested in RigNet, Inc. (NASDAQ:RNET). Meeder Asset Mngmt Incorporated holds 0% of its portfolio in RigNet, Inc. (NASDAQ:RNET) for 1,875 shares. Jpmorgan Chase reported 434,377 shares. 1,109 are owned by Ameritas Partners Inc. Morgan Stanley holds 0% of its portfolio in RigNet, Inc. (NASDAQ:RNET) for 34,616 shares. Sg Americas Securities Ltd Liability Corp reported 7,367 shares or 0% of all its holdings. Dimensional Fund Ltd Partnership accumulated 464,357 shares. Geode Cap Mgmt Ltd Llc has invested 0% of its portfolio in RigNet, Inc. (NASDAQ:RNET). Moreover, Alliancebernstein L P has 0% invested in RigNet, Inc. (NASDAQ:RNET). 51,539 are held by Tiaa Cref Ltd Co. 29,494 were reported by Deutsche Bank & Trust Ag. Swiss National Bank & Trust stated it has 23,700 shares. Her Majesty The Queen In Right Of The Province Of Alberta As Represented By Alberta Investment Management Corp, Alberta – Canada-based fund reported 12,000 shares.

Since March 19, 2018, it had 0 buys, and 3 sales for $313,108 activity. 12,000 shares were sold by Davis Charles Louis IV, worth $161,424.

The stock of RigNet, Inc. (NASDAQ:RNET) hit a new 52-week low and has $11.87 target or 8.00 % below today’s $12.90 share price. The 6 months bearish chart indicates high risk for the $249.79 million company. The 1-year low was reported on May, 16 by Barchart.com. If the $11.87 price target is reached, the company will be worth $19.98 million less.
The 52-week low event is an important milestone for every stock because it shows very negative momentum and is time when sellers come in. During such technical setups, fundamental investors usually stay away and are careful buying the stock.

The stock increased 1.18% or $0.15 during the last trading session, reaching $12.9. About 37,763 shares traded or 30.80% up from the average. RigNet, Inc. (NASDAQ:RNET) has declined 32.66% since May 16, 2017 and is downtrending. It has underperformed by 44.21% the S&P500.

Analysts await RigNet, Inc. (NASDAQ:RNET) to report earnings on August, 6. They expect $-0.15 EPS, up 37.50 % or $0.09 from last year’s $-0.24 per share. After $-0.25 actual EPS reported by RigNet, Inc. for the previous quarter, Wall Street now forecasts -40.00 % EPS growth.

More notable recent RigNet, Inc. (NASDAQ:RNET) news were published by: Nasdaq.com which released: “RigNet Inc’s Revenue Rises as Its Site Count Increases” on May 08, 2018, also Nasdaq.com with their article: “RigNet Announces First Quarter 2018 Earnings Release Date and Conference Call Information” published on April 30, 2018, Themiddlemarket.com published: “M&A daily wrap: GTCR, TransUnion, Callcredit, Riverside, LLR, Shore Capital, Audax, Ardian” on April 20, 2018. More interesting news about RigNet, Inc. (NASDAQ:RNET) were released by: Fool.com and their article: “Why RigNet Inc Stock Is Sinking Today” published on May 08, 2018 as well as Seekingalpha.com‘s news article titled: “RigNet’s (RNET) CEO Steven Pickett on Q1 2018 Results – Earnings Call Transcript” with publication date: May 13, 2018.

RigNet, Inc. provides systems and solutions for clients with data networking and operational requirements the United States and internationally. The company has market cap of $249.79 million. The firm operates through two divisions, Managed Services; and Systems Integration and Automation. It currently has negative earnings. It offers remote communications services for offshore and onshore drilling rigs and production facilities, as well as support vessels and other remote sites; multiprotocol label switching global network services; proactive network monitoring and management through network activities centers; and systems integration services to design, assemble, install, and commission turn-key solutions for customer communications systems.

RigNet, Inc. (NASDAQ:RNET) Institutional Positions Chart

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