NASDAQ:RNETRigNet Stock Price, Forecast & News

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 stock has decreased by 45.5% and is now trading at $1.89. View which stocks have been most impacted by Coronavirus.

2 Wall Street analysts have issued "buy," "hold," and "sell" ratings for RigNet in the last year. There are currently 1 hold rating and 1 buy rating for the stock, resulting in a consensus recommendation of "Buy." View analyst ratings for RigNet.

RigNet is scheduled to release its next quarterly earnings announcement on Monday, August 3rd 2020. View our earnings forecast for RigNet.

RigNet Inc (NASDAQ:RNET) released its quarterly earnings data on Friday, May, 8th. The Wireless communications provider reported ($1.34) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.57) by $0.77. The Wireless communications provider had revenue of $58.76 million for the quarter. RigNet had a negative return on equity of 100.04% and a negative net margin of 13.83%. View RigNet's earnings history.

2 brokers have issued 12 month price targets for RigNet's shares. Their forecasts range from $20.00 to $20.00. On average, they anticipate RigNet's stock price to reach $20.00 in the next twelve months. This suggests a possible upside of 958.2% from the stock's current price. View analysts' price targets for RigNet.

News headlines about RNET stock have trended somewhat negative on Tuesday, InfoTrie reports. The research firm identifies positive and negative press coverage by monitoring more than six thousand news and blog sources. 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 -1.5 on InfoTrie's scale. They also assigned media headlines about the Wireless communications provider a news buzz of 0.0 out of 10, indicating that recent press coverage is extremely unlikely to have an effect on the company's share price in the near term. View the latest news about RigNet.

RigNet saw a increase in short interest in June. As of June 30th, there was short interest totaling 899,700 shares, an increase of 67.6% from the June 15th total of 536,900 shares. Based on an average daily volume of 606,700 shares, the days-to-cover ratio is currently 1.5 days. Currently, 6.1% of the company's shares are sold short. View RigNet's Current Options Chain.

Some companies that are related to RigNet include Schlumberger (SLB), Halliburton (HAL), National-Oilwell Varco (NOV), TechnipFMC (FTI), Dril-Quip (DRQ), RPC (RES), Oceaneering International (OII), Seacor (CKH), Helix Energy Solutions Group (HLX), Era Group (ERA), Oil States International (OIS), Matrix Service (MTRX), Tidewater (TDW), Newpark Resources (NR) and Geospace Technologies (GEOS). View all competitors.

Based on aggregate information from My MarketBeat watchlists, some companies that other RigNet investors own include Ring Energy (REI), Ring Energy (REI), B2Gold (BTG), Advanced Micro Devices (AMD), FLIR Systems (FLIR), Intel (INTC), SSR Mining (SSRM), Bristol-Myers Squibb (BMY), Enbridge (ENB) and Gates Industrial (GTES).

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

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.

One share of RNET stock can currently be purchased for approximately $1.89.

RigNet has a market capitalization of $37.76 million and generates $242.93 million in revenue each year. RigNet employs 604 workers across the globe.

The official website for RigNet is www.rig.net.

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]