RigNet Inc. (NASDAQ:RNET) went down by -3.85% during the previous trading session, and it is maintaining the win ahead of Tuesday’s trading session. The share price of the Oil & Gas Equipment & Services giant went up by $1.75 to trade ended Tuesday trading at $1.82. This is down from the $1.82 price recorded on Monday’s trading session. Thanks to this latest performance, RNET is closer to the higher price 52-week target of $12.00 and further from the lowest price target of $12.00. Its performance from the start of the year has also been negative, with RNET down by -73.48% year-to-date.
RigNet Inc. (RNET) started the day trading at $1.85 and recorded an intraday high of $1.8996. It also recorded an intraday low of $1.68 during Tuesday’s trading session. RigNet Inc. is a very active stock that recorded a trading volume that is less than -122.06% of the average daily trading volume on Tuesday. The stock’s trading volume on Tuesday was 311873, which is less than -122.06 of the total average daily trading volume of 692.54K.
RigNet Inc. (NASDAQ:RNET) 2020 Performance Impressive
The increase in RNET’s stock price on Tuesday saw its overall performance boost over the past few months. We can quantify the performance of the stock so far this year using a few metrics. The 52-week high price of RNET currently stands at $11.34, which is higher than the current trading price of the stock by 84.57%. However, RNET’s current trading price is -127.27% lower than the 52-week low price of $0.77. In terms of trading volume, RigNet Inc. currently experienced healthy participation during the last trading session. 311873 shares of RigNet Inc. were traded on the stock exchange on Tuesday, which is less than -122.06% of the 692.54K average trading volume of the stock.
The performance of the stock has been positive over the past year. RNET’s performance over the past one year has seen it plunge by -83.84%, while the stock has gone down by -72.95% in the last six months. The quarterly performance of RNET currently stands at 35.66%, and it is up by 32.08% in the last month. The only negative figure was from the weekly performance, which currently reads -9.79%. At the time of writing RNET’s report, the company has a total market cap of $37.82M, making it one of the largest publicly-traded companies in the world.RigNet Inc. also has over 625 employees all over the world.
RNET Insider Activities
For RigNet Inc., insiders hold 86.10% of all company shares. The insider transactions over the past six months are up by 326.70%. During that period, insiders bought 408,858 shares in 34 transactions. In that same period, insiders sold 118,704 of their shares in 28 transactions. After these transactions, insiders at RigNet Inc. now hold 545.23k shares, which is over 88.66% of the total company stocks. Institutional investors currently hold a large chunk of the RNET shares, as they control 2.72% of the company’s total stock.
RNET Fundamental Analysis
For RigNet Inc., the stock’s diluted earnings per share (EPS) stands at -1.71. In the coming year, analysts expect the EPS to be -1.59. The EPS growth will up over the next five years to 3.00% after plunging by -25.40% in the previous five years. In terms of revenue, RigNet Inc.’s quarterly sales (YOY) is shrinking at -0.62, which is higher than the average annual revenue of -25.40% over the past half a decade.
The Return on Investment (ROI) on RigNet Inc.’s stock currently stands at -8.30%, and it has a net profit margin of -13.90%. The operating margin of the company is -8.10%, and its gross margin is 38.10%.
RNET Analysts Prediction
Another analyst that has a Buy rating for RNET is Maxim Group, which set a price target of between $20 and $24.
Sidoti and Deutsche Bank also believe that RigNet Inc.’s stock is outperforming at the moment.
At the moment, RigNet Inc.’s Total Debt to Equity ratio stands at 7.11, and they have a long-term Debt to Equity ratio of 6.57.
RNET Technical Analysis
The Simple Moving Average (SMA) is one of the most powerful technical indicators. The 20-day Simple Moving Average of RNET currently stands at -20.30%, while the SMA50 is 15.47%. The biggest one is the SMA200, which is currently reading -55.62% ahead of Tuesday’s trading session. The Relative Strength Index of this stock is 48.14.
