RigNet Inc. (RNET) Hits New 52-week Low During January 14 Session

Equities Staff |

RigNet Inc. (RNET) established a new 52-week low yesterday, and could be a company to watch at the open. After opening at $15.25, RigNet Inc. dropped to $14.61 for a new 52-week low. By the closing bell, the company's stock was at $15.40 a share for a gain of 2.74%.

Falling to a new 52-week low is never fun for company's shareholder, but, depending on who you ask, it can be either a buy or a sell signal. Someone bearish on the stock might see it reaching its lowest price in a year as a sign of growing downward momentum and make sure they sell their shares. Bulls, though, are more likely to see a new 52-week low as the stock hitting its low point and anticipate a bounce in the share price.

However one plays it, it's often a critical moment for any stock and should be noted by investors.

RigNet Inc. saw 225,754 shares of its stock trade hands, that's out of 17.76 million shares outstand. The stock has an average daily volume of 186,327 shares. After hitting a new 52-week low, RigNet Inc. enters the new trading day with a market cap of 273.46 million, a 50-day SMA of $21.71 and a 200-day SMA of $28.48

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.

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

RigNet Inc. has 698 employees, is led by CEO Martin Jimmerson, and makes its home in Houston, TX.

RigNet Inc. is also a component of the Russell 2000 Index, which is generally viewed as the most reliable indicator of the health of the broader small-cap market. Using a rules-based methodology, it creates a simple, unbiased view of how America's stable of smaller publicly traded companies are performing in the stock markets.

The index consists of the 2,000 smallest companies of the 3,000 largest publicly-traded companies in the country as judged by market cap. It's constructed by Russell Investments, which also builds and maintains the Russell 3000 (an index consisting of all 3,000 biggest companies by market cap) and the large-cap Russell 1000 (which has the 1,000 largest companies from the Russell 3000).

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.

DISCLOSURE: The views and opinions expressed in this article are those of the authors, and do not represent the views of equities.com. Readers should not consider statements made by the author as formal recommendations and should consult their financial advisor before making any investment decisions. To read our full disclosure, please go to: http://www.equities.com/disclaimer


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