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Sunday, September 18, 2016 Stock Pick

Stock Price: $13.47

RigNet, Inc. provides digital technology solutions to the oil and gas industry. The company operates through three segments: Eastern Hemisphere, Western Hemisphere, and Telecoms Systems Integration.

Basically, RNET helps oil and gas companies meet their communication and other technology needs when oil companies are drilling in remote locations such as off-shore or off the grid. The company is based in the middle of the oil and gas energy industry in Houston.

The oil and gas industry seems to have reached a sort of bottom lately with the worse likely behind it last fall and winter. RNET wasn't immune as investment in technology by oil and gas companies tailed off as the industry was in a contractor period. RNET dropped from over $55 to $13.47 currently.

It looks like the bad news is priced into RNET at this point. RNET had $59.7 million in cash and cash equivalents on the balance sheet as of June 30, 2016. RNET is trading at a market cap of only $239.85 million.

Oil has a way of trending back higher and we wouldn't be surprised if it's much higher by early next year. If so, we'll see oil and gas companies start to invest heavily again and RNET come back into play.

Speculative Score: 6

1 Being the Least Speculative and Most Confident

10 Being the Most Speculative and Possibly the Most Risky

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