RigNet (NASDAQ:RNET) was upgraded by research analysts at BidaskClub from a “sell” rating to a “hold” rating in a research report issued on Tuesday.

Several other research analysts have also recently weighed in on RNET. Piper Jaffray Companies set a $17.00 price target on shares of RigNet and gave the stock a “hold” rating in a research note on Wednesday, August 16th. ValuEngine cut shares of RigNet from a “hold” rating to a “sell” rating in a research note on Friday, October 20th. One analyst has rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $19.33.

Shares of RigNet (NASDAQ RNET) traded up $0.05 during mid-day trading on Tuesday, reaching $15.05. 34,049 shares of the company traded hands, compared to its average volume of 24,609. RigNet has a 52 week low of $14.00 and a 52 week high of $23.90. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.97 and a current ratio of 1.98.

Several institutional investors have recently modified their holdings of the company. Skandinaviska Enskilda Banken AB publ boosted its stake in shares of RigNet by 10.1% during the 3rd quarter. Skandinaviska Enskilda Banken AB publ now owns 808,089 shares of the Wireless communications provider’s stock worth $13,899,000 after acquiring an additional 74,090 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in shares of RigNet by 58.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 455,175 shares of the Wireless communications provider’s stock worth $7,988,000 after acquiring an additional 168,275 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of RigNet by 8.6% during the 3rd quarter. Dimensional Fund Advisors LP now owns 433,126 shares of the Wireless communications provider’s stock worth $7,450,000 after acquiring an additional 34,420 shares during the last quarter. State Street Corp boosted its stake in shares of RigNet by 11.8% during the 2nd quarter. State Street Corp now owns 244,028 shares of the Wireless communications provider’s stock worth $3,914,000 after acquiring an additional 25,741 shares during the last quarter. Finally, Northern Trust Corp boosted its stake in shares of RigNet by 29.6% during the 2nd quarter. Northern Trust Corp now owns 202,852 shares of the Wireless communications provider’s stock worth $3,256,000 after acquiring an additional 46,311 shares during the last quarter. Institutional investors and hedge funds own 92.25% of the company’s stock.

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RigNet Company Profile

RigNet, Inc (RigNet) provides customized systems and solutions serving customers with data networking and operational requirements. The Company provides voice and data network, video conferencing and monitoring, crew welfare, asset and weather monitoring, and real-time data services. It operates through two segments: Managed Services, and Systems Integration and Automation (SI&A).

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