RigNet Inc. (RNET) Plunges 5.18%

RigNet Inc. (RNET) Plunges 5.18%

RigNet Inc. (RNET) had a rough trading day for Thursday October 10 as shares tumbled 5.18%, or a loss of $-0.38 per share, to close at $6.95. After opening the day at $7.42, shares of RigNet Inc. traded as high as $7.42 and as low as $6.85. Volume was 19,578 shares over 325 trades, against an average daily volume of n/a shares and a total float of 19.97 million.

As a result of the decline, RigNet Inc. now has a market cap of $138.78 million. In the last year, shares of RigNet Inc. have traded between a range of $19.65 and $6.15, and its 50-day SMA is currently $n/a and 200-day SMA is $n/a.

RigNet Inc operates as a technology company that provides customized communications services, applications, real-time machine learning, and cybersecurity solutions. It operates through the following segments: The Managed Communications Services segment provides remote communications, telephony, and technology services for offshore and onshore drilling rigs and production facilities, support vessels, and other remote sites; The Applications and Internet-of-Things segment focuses on the applications over-the-top of the Managed Services segment including Supervisory Control and Data Acquisition (SCADA) and Software as a Service (SaaS); The Systems Integration segment gives design and implementation services for customer telecommunications systems.

RigNet Inc. is based out of Houston, TX and has some 604 employees. Its CEO is Steven E. Pickett.

RigNet Inc. is a component of the Russell 2000. 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.

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