RigNet, Inc. (RNET) Reaches $12.31 52-Week Low; Goldman Capital Management Has Cut Applied Optoelectronics (Aaoi) (AAOI) Stake

May 18, 2018 - By Mary Manson

RigNet, Inc. (NASDAQ:RNET) Logo

The stock of RigNet, Inc. (NASDAQ:RNET) hit a new 52-week low and has $11.94 target or 3.00% below today’s $12.31 share price. The 5 months bearish chart indicates high risk for the $238.27M company. The 1-year low was reported on May, 18 by Barchart.com. If the $11.94 price target is reached, the company will be worth $7.15M less. The stock decreased 3.87% or $0.495 during the last trading session, reaching $12.305. About 14,590 shares traded. RigNet, Inc. (NASDAQ:RNET) has declined 32.66% since May 18, 2017 and is downtrending. It has underperformed by 44.21% the S&P500.

Goldman Capital Management Inc decreased Applied Optoelectronics Inc. (Aaoi) (AAOI) stake by 19.91% reported in 2017Q4 SEC filing. Goldman Capital Management Inc sold 20,850 shares as Applied Optoelectronics Inc. (Aaoi) (AAOI)’s stock declined 38.44%. The Goldman Capital Management Inc holds 83,850 shares with $3.17M value, down from 104,700 last quarter. Applied Optoelectronics Inc. (Aaoi) now has $657.85M valuation. The stock decreased 0.41% or $0.14 during the last trading session, reaching $33.6. About 133,735 shares traded. Applied Optoelectronics, Inc. (NASDAQ:AAOI) has declined 58.92% since May 18, 2017 and is downtrending. It has underperformed by 70.47% the S&P500.

Since January 11, 2018, it had 0 buys, and 1 insider sale for $35,370 activity. Another trade for 1,000 shares valued at $35,370 was made by BLACK RICHARD B on Thursday, January 11.

Investors sentiment decreased to 0.85 in 2017 Q4. Its down 0.34, from 1.19 in 2017Q3. It is negative, as 53 investors sold AAOI shares while 46 reduced holdings. 26 funds opened positions while 58 raised stakes. 11.84 million shares or 19.13% less from 14.64 million shares in 2017Q3 were reported. Aqr Capital Mngmt reported 0.01% of its portfolio in Applied Optoelectronics, Inc. (NASDAQ:AAOI). Pub Sector Pension Investment Board accumulated 12,179 shares. Ls Investment Advsrs Lc reported 0.02% of its portfolio in Applied Optoelectronics, Inc. (NASDAQ:AAOI). Creative Planning, Kansas-based fund reported 18,890 shares. Geode Capital Mngmt Limited Liability Corporation has 0% invested in Applied Optoelectronics, Inc. (NASDAQ:AAOI) for 166,975 shares. Texas Permanent School Fund invested in 0.01% or 13,102 shares. Bridgeway Capital Mgmt Inc has 6,900 shares. Moreover, Louisiana State Employees Retirement System has 0.01% invested in Applied Optoelectronics, Inc. (NASDAQ:AAOI) for 8,300 shares. Dreman Value Mgmt L L C stated it has 6,407 shares. Comerica Financial Bank reported 0% stake. State Board Of Administration Of Florida Retirement Sys invested in 9,850 shares or 0% of the stock. Tudor Investment Corp Et Al owns 7,293 shares. Morgan Stanley holds 0% of its portfolio in Applied Optoelectronics, Inc. (NASDAQ:AAOI) for 383,123 shares. 500 were reported by Regions. Northern Tru Corporation holds 220,724 shares or 0% of its portfolio.

Analysts await Applied Optoelectronics, Inc. (NASDAQ:AAOI) to report earnings on August, 2. They expect $0.34 earnings per share, down 76.22% or $1.09 from last year’s $1.43 per share. AAOI’s profit will be $6.66 million for 24.71 P/E if the $0.34 EPS becomes a reality. After $0.17 actual earnings per share reported by Applied Optoelectronics, Inc. for the previous quarter, Wall Street now forecasts 100.00% EPS growth.

More notable recent Applied Optoelectronics, Inc. (NASDAQ:AAOI) news were published by: Globenewswire.com which released: “Applied Optoelectronics to Participate in Upcoming Investor Conference” on May 15, 2018, also Seekingalpha.com with their article: “Applied Optoelectronics: Don’t Overreact” published on May 10, 2018, Nasdaq.com published: “New Research Coverage Highlights Ellie Mae, Micron Technology, Applied Optoelectronics, Acadia Realty Trust …” on May 16, 2018. More interesting news about Applied Optoelectronics, Inc. (NASDAQ:AAOI) were released by: Globenewswire.com and their article: “Applied Optoelectronics Reports First Quarter 2018 Results” published on May 08, 2018 as well as Seekingalpha.com‘s news article titled: “Applied Optoelectronics: Can It Deliver?” with publication date: April 22, 2018.

Among 13 analysts covering Applied Optoelectronics (NASDAQ:AAOI), 6 have Buy rating, 3 Sell and 4 Hold. Therefore 46% are positive. Applied Optoelectronics had 43 analyst reports since August 6, 2015 according to SRatingsIntel. Northland Capital maintained the stock with “Sell” rating in Friday, October 13 report. The stock of Applied Optoelectronics, Inc. (NASDAQ:AAOI) earned “Buy” rating by Cowen & Co on Thursday, July 13. The firm earned “Outperform” rating on Thursday, February 25 by Cowen & Co. Cowen & Co maintained the stock with “Outperform” rating in Thursday, February 22 report. Cowen & Co maintained the stock with “Buy” rating in Thursday, December 7 report. Raymond James maintained Applied Optoelectronics, Inc. (NASDAQ:AAOI) on Friday, October 13 with “Buy” rating. The firm has “Buy” rating by DA Davidson given on Friday, August 4. As per Wednesday, November 8, the company rating was maintained by Needham. FBR Capital maintained it with “Hold” rating and $32.0 target in Friday, February 16 report. As per Tuesday, February 13, the company rating was maintained by Craig Hallum.

Since March 19, 2018, it had 0 insider buys, and 3 selling transactions for $313,108 activity. $43,599 worth of RigNet, Inc. (NASDAQ:RNET) was sold by Mulloy Kevin C. on Monday, March 19. The insider Davis Charles Louis IV sold 8,000 shares worth $108,085.

Analysts await RigNet, Inc. (NASDAQ:RNET) to report earnings on August, 6. They expect $-0.15 earnings per share, up 37.50% or $0.09 from last year’s $-0.24 per share. After $-0.25 actual earnings per share reported by RigNet, Inc. for the previous quarter, Wall Street now forecasts -40.00% EPS growth.

More notable recent RigNet, Inc. (NASDAQ:RNET) news were published by: Seekingalpha.com which released: “RigNet’s (RNET) CEO Steven Pickett on Q1 2018 Results – Earnings Call Transcript” on May 13, 2018, also Nasdaq.com with their article: “RigNet Inc’s Revenue Rises as Its Site Count Increases” published on May 08, 2018, Globenewswire.com published: “RigNet Announces First Quarter 2018 Earnings Release Date and Conference Call Information” on April 20, 2018. More interesting news about RigNet, Inc. (NASDAQ:RNET) were released by: Fool.com and their article: “Why RigNet Inc Stock Is Sinking Today” published on May 08, 2018 as well as Themiddlemarket.com‘s news article titled: “M&A daily wrap: GTCR, TransUnion, Callcredit, Riverside, LLR, Shore Capital, Audax, Ardian” with publication date: April 20, 2018.

Investors sentiment decreased to 1.19 in 2017 Q4. Its down 0.37, from 1.56 in 2017Q3. It dived, as 9 investors sold RigNet, Inc. shares while 18 reduced holdings. 12 funds opened positions while 20 raised stakes. 15.91 million shares or 0.46% less from 15.98 million shares in 2017Q3 were reported. Manufacturers Life Ins The stated it has 0% of its portfolio in RigNet, Inc. (NASDAQ:RNET). Vanguard Grp Inc owns 628,876 shares. Mufg Americas Corp stated it has 100 shares. Stephens Inv Limited Company accumulated 525,348 shares. Wedge L L P Nc reported 19,000 shares. Comml Bank Of America Corp De reported 0% of its portfolio in RigNet, Inc. (NASDAQ:RNET). Tiaa Cref Inv Mgmt Ltd Liability Com stated it has 51,539 shares or 0% of all its holdings. Renaissance Lc reported 586,600 shares. Federated Investors Pa invested in 388 shares or 0% of the stock. Stratos Wealth Prtn Limited holds 0% or 100 shares. Northern Tru has invested 0% in RigNet, Inc. (NASDAQ:RNET). Schwab Charles Investment Mgmt stated it has 60,638 shares or 0% of all its holdings. Zurcher Kantonalbank (Zurich Cantonalbank) owns 466 shares. Blackrock Inc holds 0% or 870,221 shares in its portfolio. Kohlberg Kravis Roberts And L P owns 4.75M shares.

RigNet, Inc. provides systems and solutions for clients with data networking and operational requirements the United States and internationally. The company has market cap of $238.27 million. The firm operates through two divisions, Managed Services; and Systems Integration and Automation. It currently has negative earnings. It offers remote communications services for offshore and onshore drilling rigs and production facilities, as well as support vessels and other remote sites; multiprotocol label switching global network services; proactive network monitoring and management through network activities centers; and systems integration services to design, assemble, install, and commission turn-key solutions for customer communications systems.

Among 4 analysts covering RigNet (NASDAQ:RNET), 2 have Buy rating, 0 Sell and 2 Hold. Therefore 50% are positive. RigNet had 8 analyst reports since August 5, 2015 according to SRatingsIntel. The firm has “Market Perform” rating given on Thursday, March 8 by Wells Fargo. The stock has “Neutral” rating by Sidoti on Tuesday, November 10. Sidoti upgraded the shares of RNET in report on Tuesday, June 28 to “Buy” rating. The firm earned “Buy” rating on Monday, August 31 by Sidoti. Piper Jaffray maintained the stock with “Hold” rating in Wednesday, August 16 report. The stock of RigNet, Inc. (NASDAQ:RNET) has “Hold” rating given on Wednesday, August 5 by Oppenheimer.

RigNet, Inc. (NASDAQ:RNET) Institutional Positions Chart

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