RigNet stock: buy or sell?

RNET stock price: $8.07 0.25% At close on May 21st, 2019

Updated on:
May 21st, 2019

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After sliding a bloodcurdling -5.59% yesterday, RigNet closed today at $8.07 and stayed constant a tiny 0.25%. Last session broke a streak of 4 red days.

RigNet, Inc. provides systems and solutions for customers with data networking and operational requirements the United States and internationally.

Should I buy RigNet stock?

Trading stocks requires experience and discipline, and your buying and selling decisions must come following a methodology. Having a trading strategy helps to make decisions easier, quicker and with less hesitations. There are thousands of trading strategies for you to choose, but at Stocks2.com we prefer those that are simple but successful.

Currently, RigNet stock doesn't match any of these trading strategies, so our recommendation is not to buy.

Buy setupElegible
New all-time highNo
New 52 week highNo
Price crossing up 200d MANo
100d MA crossing up 200d MANo
This is not a selling recommendation at all, just it's not the best moment to buy if you follow any of these trading strategies.

Is RigNet stock a buy?

Everyday, hundreds of stock ratings are posted by financial analysts to indicate a particular stock's attractiveness. At Stocks2.com, we found 1 rating published for RNET stock in the last month.

Is RNET a good stock to buy?
DateAnalyst / BrokerPrevious ratingCurrent rating
2019-3-18Maxim Groupn/aBuy

RigNet stock analysis

Daily outlook

After sliding a bloodcurdling -5.59% yesterday, RigNet closed today at $8.07 and stayed stable a tiny 0.25%.

After sliding a bloodcurdling -5.59% yesterday, RigNet closed today at $8.07 and stayed steady a tiny 0.25%. Since price and SMA200d lines crossed down on March, RNET fell $-6.99 per share (-46.41%).

RNET stock chart (daily)

Weekly outlook

RigNet shares plummed -5.06% this week, ending at $8.07. Late April RNET boosted an exceptional 8.97% in just one week. For 3 weeks in a row, price slid and lost a -21.47%.

After losing the previous support, we should expect price will slide down to find new supports. Since price and 40-weeks moving average lines crossed down early March, RNET fell $-7.64 per share (-48.63%). Trading stocks that are under the 40-weeks (that is, 200-days) moving average mark is not recommended by many experts, as it indicates that the stock has not enough institutional support.

RNET stock chart (weekly)

RigNet stock price history

RigNet stock went public on December 15th, 2010 with a price of $12.001. Since then, RNET stock lost a -32.80%, with a yearly average of -4.10%.

1: Adjusted price after possible price splits or reverse-splits.

RigNet stock historical price chart

RNET stock reached 52-week highs on September at $24.05, and all-time highs 2014-03-06 with a price of 59.06.

RigNet stock price target is $24.00

How much a stock will be priced tomorrow or next week is quite unpredictable However, financial institutions invest time and resources to provide the most accurated estimations to help investors to make their decisions. We do not recommend to follow these stock price predictions without a critical thinking from your side, as their accuracy is usually low. Currently, only 1 price prediction for RigNet stock was posted in the last 30 days:
RNET stock price predictions
DateAnalyst / BrokerActionPrevious targetCurrent targetDiff
2019-3-18Maxim GroupReiteratesn/a$24.00-
(in average)$0.00$24.000.0%

Financials and fundamental analysis

Earnings date and Earnings per Share

Since March, when RigNet posted its last earnings report, it plunged a frightening -46.41%. Unfortunately, reported EPS is not yet available in our database.
RNET earnings date and EPS evolution
QuarterReporting dateEstimated EPSActual EPSSurprise
2017-Q1-n/a-0.11n/a
2017-Q2-n/a-0.17n/a
2017-Q32017-11-06-0.09-0.19n/a
2017-Q42018-03-06-0.15-0.21n/a
2018-Q12018-05-07-0.18-0.25n/a
2018-Q22018-08-06n/a-0.23n/a
2018-Q32018-11-08n/a-0.15n/a
2018-Q42019-03-14n/a-0.05n/a
2019-Q1-n/an/an/a
2019-Q2-n/an/an/a

Annual financial results

In 2018, RigNet annual revenues rocketed an amazing 16.58% to $238.85 million dollars from $204.89 marked in 2017. However, its profit margin (compared to revenues) plunged to -26.15%, that is $-62.45 million.

RNET annual Sales and Income evolution
YearSalesYoYIncome/(margin)YoY
2013$221 M-$16 M7.4%-
2014$330 M49.60%$16 M4.7%-4.31%
2015$271 M-17.84%$-16.97 M-6.3%-208.56%
2016$221 M-18.67%$-11.51 M-5.2%-32.21%
2017$205 M-7.13%$-16.18 M-7.9%40.58%
2018$239 M16.58%$-62.45 M-26.1%286.08%

Quarterly financial results

RigNet reported $60.24 M in sales for 2018-Q4, a -6.99% less compared to previous quarter. Reported quarter earnings marked $-49.72 million with a profit margin of -82.53%. Profit margin plummed a -78.14% compared to previous quarter when profit margin was -4.40%. When comparing revenues to same quarter last year, RigNet sales marked a remarkable increase and jumped a 6.04%.
RNET quarterly Sales and Income evolution
QuarterSales1QoQ2Income1/(margin)QoQ2
2017-Q1$48 M-$-2.03 M-4.2%-
2017-Q2$49 M2.27%$-4.25 M-8.6%109.36%
2017-Q3$51 M3.43%$-4.23 M-8.3%-0.42%
2017-Q4$57 M11.74%$-5.67 M-10.0%33.96%
2018-Q1$54 M-5.25%$-5.56 M-10.3%-1.99%
2018-Q2$60 M11.47%$-4.33 M-7.2%-22.08%
2018-Q3$65 M7.94%$-2.85 M-4.4%-34.23%
2018-Q4$60 M-6.99%$-49.72 M-82.5%1,646.43%

RigNet ownership

When you are planning to invest in shares of a company, it's worth to have a look its ownership structure.

Management staff in all public traded companies that hold equity is required to report every transaction to the SEC. For RigNet, 1.81% of all outstanding shares are owned by its staff.

Bearish positions for RNET stock account 0.00%, no big difference from last month.

For a better context understanding, the following table shows ownership data compared to other related companies:

RNETGSATHRSIRDMITRN
Market cap$157.0 M$812.0 M$22.2 B$2.7 B$712.4 M
Total shares19.5 M1,450.0 M118.1 M113.2 M21.0 M
Float shares11.6 M521.7 M117.6 M98.5 M15.6 M
  - Institutional holdings (%)89.1%27.9%92.7%98.6%57.4%
  - Insider holdings (%)1.8%58.1%0.4%14.0%19.1%
Shares in short selling0.0%0.0%0.0%0.0%0.0%

RigNet summary

Tuesday, May 21st, 2019
Open$8.06
Close$8.07
Day range$7.97 - $8.18
Previous close$8.05
Session gain0.25%
Average true range$0.55
50d mov avg$10.38
100d mov avg$12.32
200d mov avg$14.63
Daily pattern
Weekly pattern lt02c

RigNet performance

Stocks performance is always measured in comparision to the market or competitors and related stocks in the same industry. We selected Globalstar, Harris, Iridium Communications, Ituran Location and Control, Loral Space and Communications, Oceaneering International and Schlumberger as the bechmarking frame for RigNet stock.
Stock3m6m12m
RNETRigNet-46.52%-51.56%-31.90%
GSATGlobalstar-5.08%40.00%3.70%
HRSHarris14.10%30.39%25.37%
IRDMIridium Communica...10.47%5.95%80.00%
ITRNIturan Location a...-6.05%3.99%6.85%
LORLLoral Space and C...-8.19%-14.30%-3.60%
OIIOceaneering Inter...17.28%11.36%-19.12%
SLBSchlumberger-10.96%-12.88%-40.21%

RigNet competitors

One check before investing in any stock is to have a look a list of its competitors, in this case for RigNet. We chose 7 companies as RigNet competitors as they are in the same industry or have similar market objectives.