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NASDAQ:RNET - RigNet Stock Price, Forecast & News

$1.54
-0.26 (-14.44 %)
(As of 03/29/2020 04:00 PM ET)
Today's Range
$1.34
Now: $1.54
$2.08
50-Day Range
$1.61
MA: $3.25
$4.20
52-Week Range
$1.02
Now: $1.54
$11.34
Volume58,887 shs
Average Volume88,327 shs
Market Capitalization$30.77 million
P/E RatioN/A
Dividend YieldN/A
Beta1.86
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. The Managed Services segment provides remote communication, telephony, and technology services for offshore and onshore drilling rigs and production facilities, support vessels, and other remote sites. The Applications and Internet-of-Things segment offers applications over-the-top of the network layer, including Software as a Service offerings, such as cyber security; applications for safety and workforce productivity; a real-time machine learning and AI data platform; and other value-added solutions. The Systems Integration segment engages in the design, consulting, engineering, project management, procurement, testing, installation, commissioning, and maintenance of telecommunications systems. RigNet, Inc. was founded in 2000 and is headquartered in Houston, Texas.
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Industry, Sector and Symbol

Industry Communication services, not elsewhere classified
Sub-IndustryOil & Gas Equipment & Services
SectorComputer and Technology
Current SymbolNASDAQ:RNET
CUSIP76658210
Phone281-674-0100

Debt

Price-To-Earnings

Sales & Book Value

Annual Sales$242.93 million
Cash Flow$0.36 per share
Book Value$2.35 per share

Profitability

Net Income$-19,160,000.00

Miscellaneous

Employees604
Market Cap$30.77 million
Next Earnings Date5/4/2020 (Estimated)
OptionableOptionable

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RigNet (NASDAQ:RNET) Frequently Asked Questions

How has RigNet's stock been impacted by COVID-19 (Coronavirus)?

RigNet's stock was trading at $3.47 on March 11th, 2020 when Coronavirus (COVID-19) reached pandemic status according to the World Health Organization. Since then, RNET shares have decreased by 55.6% and is now trading at $1.54. View which stocks have been mosted impacted by Coronavirus.

Do Wall Street analysts recommend investors buy shares of RigNet?

2 Wall Street analysts have issued "buy," "hold," and "sell" ratings for RigNet in the last year. There are currently 2 buy ratings for the stock, resulting in a consensus recommendation of "Buy." View analyst ratings for RigNet.

When is RigNet's next earnings date?

RigNet is scheduled to release its next quarterly earnings announcement on Monday, May 4th 2020. View our earnings forecast for RigNet.

How were RigNet's earnings last quarter?

RigNet Inc (NASDAQ:RNET) announced its quarterly earnings data on Wednesday, March, 4th. The Wireless communications provider reported $0.04 EPS for the quarter, beating the Zacks' consensus estimate of ($0.04) by $0.08. The Wireless communications provider earned $64.10 million during the quarter. RigNet had a negative net margin of 7.77% and a negative return on equity of 50.48%. View RigNet's earnings history.

What price target have analysts set for RNET?

2 brokers have issued twelve-month price objectives for RigNet's shares. Their forecasts range from $20.00 to $20.00. On average, they anticipate RigNet's share price to reach $20.00 in the next year. This suggests a possible upside of 1,198.7% from the stock's current price. View analysts' price targets for RigNet.

Has RigNet been receiving favorable news coverage?

Media headlines about RNET stock have been trending somewhat positive this week, according to InfoTrie. The research group scores the sentiment of press coverage by analyzing more than six thousand news and blog sources in real-time. The firm ranks coverage of public companies on a scale of -5 to 5, with scores nearest to five being the most favorable. RigNet earned a media sentiment score of 0.7 on InfoTrie's scale. They also gave headlines about the Wireless communications provider a news buzz of 4.0 out of 10, indicating that recent press coverage is somewhat unlikely to have an impact on the company's share price in the immediate future. View the latest news aboutRigNet.

Are investors shorting RigNet?

RigNet saw a decline in short interest during the month of March. As of March 13th, there was short interest totaling 668,800 shares, a decline of 14.7% from the February 27th total of 784,100 shares. Based on an average daily volume of 69,400 shares, the short-interest ratio is currently 9.6 days. Currently, 4.6% of the shares of the company are short sold. View RigNet's Current Options Chain.

Who are some of RigNet's key competitors?

What other stocks do shareholders of RigNet own?

Based on aggregate information from My MarketBeat watchlists, some companies that other RigNet investors own include FLIR Systems (FLIR), Enbridge (ENB), Valero Energy (VLO), Baidu (BIDU), Callon Petroleum (CPE), IBM (IBM), Corbus Pharmaceuticals (CRBP), Amicus Therapeutics (FOLD), Huntington Bancshares (HBAN) and Iridium Communications (IRDM).

Who are RigNet's key executives?

RigNet's management team includes the following people:
  • Mr. Steven E. Pickett, CEO, Pres & Director (Age 55)
  • Mr. Lee M. Ahlstrom, Sr. VP & CFO (Age 52)
  • Mr. Brendan Sullivan, CTO & Chief Information Officer (Age 45)
  • Mr. Brad Eastman, Sr. VP & Gen. Counsel (Age 51)
  • Mr. Jay T. Hilbert, Sr. VP of Global Sales (Age 59)

What is RigNet's stock symbol?

RigNet trades on the NASDAQ under the ticker symbol "RNET."

Who are RigNet's major shareholders?

RigNet's stock is owned by a number of institutional and retail investors. Top institutional shareholders include FMR LLC (14.76%), ArrowMark Colorado Holdings LLC (14.16%), Punch & Associates Investment Management Inc. (3.78%), Renaissance Technologies LLC (2.78%), Kopion Asset Management LLC (2.48%) and State Street Corp (1.33%). Company insiders that own RigNet stock include Benjamin Andrew Carter, Brendan Sullivan, Digital Oilfield Investments L, Fund Holdings Gp Ltd Kkr, Keith Olsen, Kevin C Mulloy and Tonya Maumus Mcdermott. View institutional ownership trends for RigNet.

Which major investors are selling RigNet stock?

RNET stock was sold by a variety of institutional investors in the last quarter, including Boston Partners, Russell Investments Group Ltd., FMR LLC, Geode Capital Management LLC, Charles Schwab Investment Management Inc., and Nuveen Asset Management LLC. View insider buying and selling activity for RigNet.

Which major investors are buying RigNet stock?

RNET stock was acquired by a variety of institutional investors in the last quarter, including Kopion Asset Management LLC, ArrowMark Colorado Holdings LLC, Renaissance Technologies LLC, Barclays PLC, UBS Group AG, State Street Corp, and Punch & Associates Investment Management Inc.. Company insiders that have bought RigNet stock in the last two years include Digital Oilfield Investments L, and Fund Holdings Gp Ltd Kkr. View insider buying and selling activity for RigNet.

How do I buy shares of RigNet?

Shares of RNET can be purchased through any online brokerage account. Popular online brokerages with access to the U.S. stock market include Vanguard Brokerage Services, TD Ameritrade, E*TRADE, Robinhood, Fidelity, and Charles Schwab.

What is RigNet's stock price today?

One share of RNET stock can currently be purchased for approximately $1.54.

How big of a company is RigNet?

RigNet has a market capitalization of $30.77 million and generates $242.93 million in revenue each year. RigNet employs 604 workers across the globe. View additional information about RigNet.

What is RigNet's official website?

The official website for RigNet is http://www.rig.net/.

How can I contact RigNet?

RigNet's mailing address is 15115 PARK ROW BOULEVARD SUITE 300, HOUSTON TX, 77084. The Wireless communications provider can be reached via phone at 281-674-0100 or via email at [email protected]


MarketBeat Community Rating for RigNet (NASDAQ RNET)

Community Ranking:  2.5 out of 5 (star star half star)
Outperform Votes:  282 (Thanks for Voting!)
Underperform Votes:  292 (Thanks for Voting!)
Total Votes:  574
MarketBeat's community ratings are surveys of what our community members think about RigNet and other stocks. Vote "Outperform" if you believe RNET will outperform the S&P 500 over the long term. Vote "Underperform" if you believe RNET will underperform the S&P 500 over the long term. You may vote once every thirty days.
This page was last updated on 3/29/2020 by MarketBeat.com Staff

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