RigNet (NASDAQ:RNET) Earns News Impact Rating of 0.14

Media coverage about RigNet (NASDAQ:RNET) has trended somewhat positive recently, according to Accern. Accern identifies positive and negative news coverage by monitoring more than twenty million news and blog sources in real-time. Accern ranks coverage of publicly-traded companies on a scale of negative one to one, with scores closest to one being the most favorable. RigNet earned a news impact score of 0.14 on Accern’s scale. Accern also gave media headlines about the Wireless communications provider an impact score of 56 out of 100, meaning that recent news coverage is somewhat likely to have an effect on the stock’s share price in the next several days.

These are some of the news stories that may have effected Accern’s analysis:

A number of equities analysts recently commented on the company. Simmons upped their target price on RigNet from $17.00 to $19.00 and gave the company a “neutral” rating in a report on Monday, July 3rd. BidaskClub upgraded RigNet from a “strong sell” rating to a “sell” rating in a report on Tuesday, July 11th. Finally, Zacks Investment Research downgraded RigNet from a “hold” rating to a “sell” rating in a report on Wednesday, May 10th. Two analysts have rated the stock with a sell rating, two have issued a hold rating and one has assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $20.33.

Shares of RigNet (RNET) traded down 2.24% during mid-day trading on Monday, reaching $17.45. The company had a trading volume of 13,982 shares. The company’s market capitalization is $314.59 million. The stock has a 50 day moving average of $16.64 and a 200-day moving average of $19.38. RigNet has a 52 week low of $10.86 and a 52 week high of $23.90.

RigNet (NASDAQ:RNET) last posted its quarterly earnings results on Monday, May 8th. The Wireless communications provider reported ($0.11) EPS for the quarter, beating the consensus estimate of ($0.13) by $0.02. The firm had revenue of $48.10 million during the quarter, compared to analysts’ expectations of $49.46 million. RigNet had a negative return on equity of 10.36% and a negative net margin of 5.79%. The business’s revenue for the quarter was down 22.8% on a year-over-year basis. During the same quarter last year, the firm earned ($0.08) earnings per share. On average, analysts expect that RigNet will post ($0.21) earnings per share for the current fiscal year.

In other RigNet news, Director Charles Louis Iv Davis sold 1,750 shares of the firm’s stock in a transaction on Wednesday, May 24th. The stock was sold at an average price of $16.87, for a total transaction of $29,522.50. Following the completion of the sale, the director now 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 hyperlink. 1.20% of the stock is owned by company insiders.

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About RigNet

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).

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

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