Ring Energy Inc. (AMEX:REI) currently has a daily average trading volume of 2.41M but it saw 2933853 shares traded on Thursday. With a market cap of 308.14M USD, stock’s current market price of $1.74 came rising about 1.16 while comparing to the previous closing price of $1.72. In past 52 weeks, the stock remained buoying in the range of price level as high as $5.09 and as low as $1.70. In the recent trading on the day, stock has struck highest price mark of $1.79 while lowest mark touched by it was $1.63.
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Taking a look at 20-day trading activity of Ring Energy Inc. (REI) gives us an average price of $2.0515, while its current price level is -65.82% below from 52-week high level whereas it is 2.35% above from lowest level seen by the stock during that period. Simple moving average of 50 days or SMA-50 of the stock’s closing price is $2.2254 while that of 200 days or SMA-200 reads an average of $2.7343. A closer look into the stock’s movement over the week reveals that its volatility is standing at 8.83% during that period while stretching the period over a month that decreases to 5.95%. It is also necessary to take a look into other indicators of a stock too, to get a better idea about its price movement. And in doing so, we find stock’s 14-day relative strength index (RSI) standing at 30.93 which implies that the stock is in neutral territory.
The company’s shares got several price updates from the analyst firms in past one month and most recent of them is from the ROTH Capital which downgraded the stock as “Neutral” in its note to investors issued on August 01, 2022, recommending a price target of between $4.90 and $7.50 for it. ROTH Capital upgraded its recommendation for the stock as a “Buy” from “Neutral” on October 14, 2021 while assigning a price target of $4.75.
Over the week, REI’s stock price is moving -12.56% down while it is -24.02% when we observe its performance for the past one month. Year-to-date it is -29.27% down and over the past year, the stock is showing a downside performance of -44.59%.
The latest quarterly earnings report issued by the company was for quarter ended 9/29/2022, when its quarterly earnings per share (EPS) of $0.28 beat the consensus estimate of $0.24 for the same. The company is expected to be releasing its next quarterly report in 05/09/2023, for which analysts forecasted an EPS of $0.22 while estimate for next year EPS is $0.73. For REI, analysts are forecasting an EPS-growth rate of 135.50% for current year and estimate for EPS growth in next year is 21.90%. In next quarter, company is expected to be making quarterly sales of $118.33 million as analysts are expecting the sales for current fiscal year at $357 million and seeing the company making $419 million in sales next year. Moreover, analysts are in estimates of $109 million for current-quarter revenue.
Currently, Ring Energy Inc.’s total number of outstanding shares is 180.63M with 15.15% of that held by the insiders while 57.91% of its common stock has been owned by the institutions. Company’s return on investment (ROI) stands at 17.00%. It has a price to earnings ratio (P/E ratio) of 1.74 while having a 2.10 of forward P/E ratio. Stock’s beta reads 1.99. Stock has a price to book (P/B) ratio of 0.46 while price to sale or P/S ratio amounts to 1.00.
As per SEC documents, Vanguard Total Stock Market Index shunned 2,558,293 of company’s common stock of worth $5.37 million as per recent closing price of the stock. Vanguard Total Stock Market Index is not the only institutional holder which restructured its stake in Ring Energy Inc., as iShares Russell 2000 ETF dumped 2,131,339 shares of worth $4.48 million to bring its holdings to a total of 6750.0 shares.
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