RigNet Inc. (RNET) Drops 5.74% on January 20

Equities Staff |

RigNet Inc. (RNET) was one of the Russell 2000's biggest losers for Wednesday January 20 as the stock slid 5.74% to $13.31, a loss of $-0.81 per share. Starting at an opening price of $13.88 a share, the stock traded between $13.11 and $13.98 over the course of the trading day. Volume was 251,591 shares over 2,642 trades, against an average daily volume of 187,687 shares and a total float of 17.76 million.

The losses send RigNet Inc. down to a market cap of $236.35 million. In the last year, RigNet Inc. has traded between $40.27 and $13.65, and its 50-day SMA is currently $20.74 and 200-day SMA is $28.26.

RigNet Inc provides managed remote communications, systems integration and collaborative applications dedicated to the oil and gas industry.

RigNet Inc. is based out of Houston, TX and has some 698 employees. Its CEO is Martin Jimmerson.

For a complete fundamental analysis analysis of RigNet Inc., check out Equities.com’s Stock Valuation Analysis report for RNET. To see the latest independent stock recommendations from Equities.com’s analysts, visit our Research section.

The Russell 2000 is one of the leading indices tracking small-cap companies in the United States. It's maintained by Russell Investments, an industry leader in creating and maintaining indices, and consists of the smallest 2000 stocks from the broader Russell 3000 index.

Russell's indices differ from traditional indices like the Dow Jones Industrial Average (DJIA) or S&P 500, whose members are selected by committee, because they base membership entirely on an objective, rules based methodology. The 3,000 largest companies by market cap make up the Russell 3000, with the 2,000 smaller companies making up the Russell 2000. It's a simple approach that gives a broad, unbiased look at the small-cap market as a whole.

For more news on the financial markets, go to Equities.com. Also, learn more about our independent proprietary equity research reports and our robust do-it-yourself Stock Valuation Analysis reports in our Research section.

All data provided by QuoteMedia and was accurate as of 4:30PM ET.

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