Rimini Street Inc. (NASDAQ: RMNI)’s stock price has plunge by -9.47relation to previous closing price of 1.90. Nevertheless, the company has seen a -7.53% plunge in its stock price over the last five trading sessions. seekingalpha.com reported 2024-07-31 that Rimini Street, Inc. (NASDAQ:RMNI ) Q2 2024 Earnings Conference Call July 31, 2024 5:00 PM ET Company Participants Dean Pohl – VP, Treasurer and IR Seth Ravin – President and CEO Michael Perica – CFO Conference Call Participants Brian Kinstlinger – Alliance Global Partners Operator Good afternoon ladies and gentlemen and welcome to the Rimini Street Q2 2024 Earnings Conference Call. At this time, all lines are in listen-only mode.
Is It Worth Investing in Rimini Street Inc. (NASDAQ: RMNI) Right Now?
Rimini Street Inc. (NASDAQ: RMNI) has a higher price-to-earnings ratio of 9.44x compared to its average ratio, The 36-month beta value for RMNI is at 1.32. Analysts have varying views on the stock, with 1 analysts rating it as a “buy,” 0 rating it as “overweight,” 0 as “hold,” and 0 as “sell.”
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The public float for RMNI is 45.73M, and currently, shorts hold a 5.06% of that float. The average trading volume for RMNI on August 13, 2024 was 252.25K shares.
RMNI’s Market Performance
RMNI stock saw a decrease of -7.53% in the past week, with a monthly decline of -41.69% and a quarterly a decrease of -26.34%. The volatility ratio for the week is 12.16%, and the volatility levels for the last 30 days are 7.61% for Rimini Street Inc. (RMNI). The simple moving average for the last 20 days is -34.31% for RMNI stock, with a simple moving average of -41.23% for the last 200 days.
Analysts’ Opinion of RMNI
Craig Hallum, on the other hand, stated in their research note that they expect to see RMNI reach a price target of $3, previously predicting the price at $10. The rating they have provided for RMNI stocks is “Hold” according to the report published on July 27th, 2023.
Alliance Global Partners gave a rating of “Buy” to RMNI, setting the target price at $8.50 in the report published on March 03rd of the previous year.
RMNI Trading at -37.31% from the 50-Day Moving Average
After a stumble in the market that brought RMNI to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -49.93% of loss for the given period.
Volatility was left at 7.61%, however, over the last 30 days, the volatility rate increased by 12.16%, as shares sank -43.97% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading -33.85% lower at present.
During the last 5 trading sessions, RMNI fell by -7.53%, which changed the moving average for the period of 200-days by -18.48% in comparison to the 20-day moving average, which settled at $2.5508. In addition, Rimini Street Inc. saw -47.40% in overturn over a single year, with a tendency to cut further losses.
Insider Trading
Reports are indicating that there were more than several insider trading activities at RMNI starting from MCCALLUM KATRINKA, who proposed sale 70,792 shares at the price of $1.95 back on Aug 05 ’24. After this action, MCCALLUM KATRINKA now owns shares of Rimini Street Inc., valued at $138,398 using the latest closing price.
Perica Michael L., the EVP & Chief Financial Officer of Rimini Street Inc., sale 2,082 shares at $1.82 during a trade that took place back on Aug 05 ’24, which means that Perica Michael L. is holding 149,358 shares at $3,798 based on the most recent closing price.
Stock Fundamentals for RMNI
Current profitability levels for the company are sitting at:
- 0.09 for the present operating margin
- 0.61 for the gross margin
The net margin for Rimini Street Inc. stands at 0.04. The total capital return value is set at 0.58.
Based on Rimini Street Inc. (RMNI), the company’s capital structure generated 1.89 points at debt to capital in total, while cash flow to debt ratio is standing at 0.11. The debt to equity ratio resting at -2.12. The interest coverage ratio of the stock is 10.7.
Currently, EBITDA for the company is 56.43 million with net debt to EBITDA at -1.17. When we switch over and look at the enterprise to sales, we see a ratio of 0.25. The receivables turnover for the company is 4.94for trailing twelve months and the total asset turnover is 1.17. The liquidity ratio also appears to be rather interesting for investors as it stands at 0.81.
Conclusion
In conclusion, Rimini Street Inc. (RMNI) has had a bad performance lately. Opinion on the stock among analysts is bullish, with some giving it a “buy” rating and others a “hold”. It’s important to note that the stock is currently trading at a significant distance from its 50-day moving average and its 52-week high.
