RigNet (NASDAQ:RNET) changed 1.30% to recent value of $8.54. The stock transacted 79360 shares during most recent day however it has an average volume of 62.51K shares. It spotted trading -64.49% off 52-week high price. On the other end, the stock has been noted 18.28% away from the low price over the last 52-weeks.
RigNet (NASDAQ:RNET) the leading provider of ultra-secure, intelligent networking solutions announced that Bardasz, data-driven drilling solutions and real-time services provider, has signed a reseller agreement to deliver Intelie’s suite of solutions to Bardasz’ customers in Mexico. Intelie Live, RigNet’s machine learning- based advanced predictive analytics solution will provide Oil and Gas companies in the region with real-time AI based monitoring that can capture every bit of data across distributed assets, from oil platform operations to pressure-pump engines; in order to capture, process and analyze thousands of events per second in real-time.
As we work with RigNet, we are committed to provide the latest AI based solutions to provide real-time intelligence for our customers, said Pablo Perez, CEO of Bardasz. With this goal in mind, Intelie Live is the ideal solution to provide real-time intelligence for our customers. This solution will give our customers greater awareness and information to manage inefficiencies, improve productivity and increase financial performance.
RigNet is excited to join with Bardasz, one of the region’s top data-driven technology solutions provider. With its long history of technology thought leadership in Mexico, they are the logical partner to accelerate the next wave of digital transformation through this offering, says Intelie CEO, Lelio Souza.
This agreement with Bardasz is indicative of the demand for Intelie’s solutions in the Energy sector. With Bardasz’ digital capabilities and focus, we expect a successful productive relationship, says Steven Picket, CEO of RigNet. This advances RigNet’s regional reseller strategy to expand and reach individual markets. RNET has a gross margin of 38.40% and an operating margin of -26.70% while its profit margin remained -28.40% for the last 12 months. Its earnings per share (EPS) expected to touch remained -75.00% for this year while earning per share for the next 5-years is expected to reach at 3.00%.
The company has 19.46M of outstanding shares and 14.33M shares were floated in the market. According to the most recent quarter its current ratio was 0.9 that represents company’s ability to meet its current financial obligations. The price moved ahead of -0.86% from the mean of 20 days, -6.84% from mean of 50 days SMA and performed -39.01% from mean of 200 days price. Company’s performance for the week was -0.93%, 8.79% for month and YTD performance remained -32.44%.
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