RigNet Inc (NASDAQ:RNET) has been upgraded to Hold in a statement by Zacks Investment Research earlier today.
- Updated: October 17, 2016
Zacks Investment Research has upgraded RigNet Inc (NASDAQ:RNET) to Hold in a statement released on 10/18/2016.
Showing a price of $16.60, RigNet Inc (NASDAQ:RNET) traded -2.64% lower on the day. The last stock price is up 24.60% from the 200-day moving average, compared to the Standard & Poor's 500 Index which has decreased -0.01% over the same time period. The company has recorded a 50-day moving average of $14.03 and a two hundred day average of $13.32. Trade Volume was down over the average, with 35,802 shares of RNET changing hands under the typical 74,988
Recent Performance Chart
RigNet Inc has with a one year low of $10.32 and a one year high of $32.81 and has a total market value of $0.
A total of 4 equity analysts have released a ratings update on RNET. Two equity analysts rating the company a strong buy, zero equity analysts rating the company a buy, four equity analysts rating the company a hold, zero equity analysts rating the company a underperform, and finally zero equity analysts rating the company a sell with a one year target of $15.00.
Brief Synopsis About RigNet Inc (NASDAQ:RNET)
RigNet, Inc. (RigNet) is a provider of digital technology solutions to the oil and gas industry. The Company provides managed remote communications, managed services and collaborative applications, focusing on offshore and onshore drilling rigs, energy production facilities, and energy maritime. The Company operates through three segments: Eastern Hemisphere, Western Hemisphere and RigNet Systems Integration and Automation. The Company's Eastern Hemisphere segment provides remote communications services for customers and rig sites located on the eastern side of the Atlantic Ocean. The Company's Western Hemisphere segment provides remote communications services for onshore and offshore customers and rig sites located on the western side of the Atlantic Ocean. The Company's RigNet Systems Integration and Automation segment designs, assembles, installs and commissions solutions for customer telecommunications systems.
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