RigNet Inc (RNET) is Upgraded by Sidoti to Buy

RigNet Inc (RNET) was Upgraded by Sidoti to ” Buy”. Earlier the firm had a rating of “Neutral ” on the company shares. Sidoti advised their investors in a research report released on Jun 28, 2016.

On the company’s financial health, RigNet Inc reported $-0.08 EPS for the quarter, missing the analyst consensus estimate by $ -0.10 based on the information available during the earnings call on May 9, 2016. Analyst had a consensus of $0.02. The company had revenue of $62.34 million for the quarter, compared to analysts expectations of $58.88 million. The company’s revenue was down -19.7 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $-0.06 EPS.

RigNet Inc closed down -0.95 points or -7.85% at $11.15 with 1,82,197 shares getting traded on Monday. Post opening the session at $12.01, the shares hit an intraday low of $11.1 and an intraday high of $12.05 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

In a different news, on May 31, 2016, Kevin C. Mulloy (director) sold 3,700 shares at $12.80 per share price. According to the SEC, on May 27, 2016, Martin L. Jimmerson (Interim CEO and President) sold 29,192 shares at $12.51 per share price. On May 26, 2016, Charles Louis Iv Davis (director) sold 3,500 shares at $12.42 per share price, according to the Form-4 filing with the securities and exchange commission.

RigNet Inc. (RigNet) is a provider of digital technology solutions to the oil and gas industry. The Company provides managed remote communications telecoms systems integration (project management of turnkey engineered telecommunications solutions) 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 Telecoms Systems Integration (TSI). 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 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 TSI segment designs assembles installs and commissions turnkey solutions for customer telecommunications systems.

RigNet Inc

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