Rignet Inc (NASDAQ:RNET) Stock Sentiment Worsens

July 27, 2018 - By Margaret Guttierez

RigNet, Inc. (NASDAQ:RNET) Logo

Sentiment for Rignet Inc (NASDAQ:RNET)

Rignet Inc (NASDAQ:RNET) institutional sentiment decreased to 0.7 in Q1 2018. Its down -0.49, from 1.19 in 2017Q4. The ratio has worsened, as 21 funds increased or opened new stock positions, while 30 trimmed and sold holdings in Rignet Inc. The funds in our partner’s database now own: 15.97 million shares, up from 15.91 million shares in 2017Q4. Also, the number of funds holding Rignet Inc in their top 10 stock positions was flat from 1 to 1 for the same number . Sold All: 6 Reduced: 24 Increased: 13 New Position: 8.

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 $239.14 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.

The stock increased 10.76% or $1.2 during the last trading session, reaching $12.35. About 71,185 shares traded or 32.49% up from the average. RigNet, Inc. (NASDAQ:RNET) has declined 27.08% since July 27, 2017 and is downtrending. It has underperformed by 39.65% the S&P500.

Millennium Tvp Management Co. Llc holds 0.96% of its portfolio in RigNet, Inc. for 64,179 shares. Kohlberg Kravis Roberts & Co. L.P. owns 4.75 million shares or 0.79% of their US portfolio. Moreover, Punch & Associates Investment Management Inc. has 0.58% invested in the company for 481,101 shares. The Colorado-based Arrowmark Colorado Holdings Llc has invested 0.35% in the stock. Menta Capital Llc, a California-based fund reported 64,981 shares.

Since January 1, 0001, it had 0 insider buys, and 3 sales for $313,108 activity.

RigNet, Inc. (NASDAQ:RNET) Ratings Coverage

Ratings analysis reveals 50% of RigNet’s analysts are positive. Out of 2 Wall Street analysts rating RigNet, 1 give it “Buy”, 0 “Sell” rating, while 1 recommend “Hold”. The lowest target is $15 while the high is $19. The stock’s average target of $17 is 37.65% above today’s ($12.35) share price. RNET was included in 3 notes of analysts from January 30, 2018. Wells Fargo maintained the shares of RNET in report on Thursday, March 8 with “Market Perform” rating.

Another recent and important RigNet, Inc. (NASDAQ:RNET) news was published by Fool.com which published an article titled: “Why RigNet Inc.’s Stock Surged Today” on July 26, 2018.

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

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