RigNet (RNET) Falls: Stock Goes Down 5.4%

RigNet, Inc. RNET saw a big move last session, as the company's shares fell by over 5% on the day. The move came on pretty good volume too with far more shares changing hands than in a normal session. This continues the recent downtrend for RNET, as the stock is now down over 9% since Sep 3, 2014.

The wireless network providing company has seen a flat record when it comes to current year estimate revisions over the past few weeks (0 increases, 0 decreases), and the consensus for earnings hasn't been in a trend either. This recent price action is discouraging, so make sure to keep a close watch on this firm in the near future, and especially on earnings estimates following the recent slump.

RNET currently has a Zacks Rank #3 (Hold) while its Earnings ESP is 0.00%.

Some better-ranked stocks in the same sector include Cellcom Israel Ltd. CEL, China Mobile Limited CHL, with a Zacks Rank #1 (Strong Buy) and BlackBerry Limited BBRY, with a Zacks Rank #2 (Buy).

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RIGNET INC RNET: Free Stock Analysis Report

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