Ring Energy Inc. (AMEX:REI) does about 1.36M shares in volume on a normal day but saw 13019747 shares change hands in Monday trading. The company now has a market cap of 46.92M USD and an enterprise value of about $428.28M. Its current market price is $0.69, marking a decrease of -13.91% compared to the previous close of $0.80. The 52 week high reached by this stock is $3.31 whilst the lowest price level in 52 weeks is $0.52. The script in recent trading has seen the stock touch a high of $0.81 and a low of $0.66.
Ring Energy Inc. (REI) has a 20-day trading average at $1.0163 and the current price is -79.30% off the 52-week high compared with 32.23% distance from its 52-week low. The 50-day simple moving average of the closing price is $1.0897 and its 200-day simple moving average is $1.4380. If we look at the stock’s price movements over the week, volatility stands at 11.55%, which decreases to 7.94% over 1 month. It is also key to look at other market indicators of price movement for the stock, where we see that the relative strength index (RSI) is at 22.80 to suggest the stock is oversold.
6 analysts observing the Ring Energy Inc. (REI) stock have set the 12-month price targets for the company’s shares at between $1.00 and $2.02. The consensus objective for the share price is $1.27, suggesting that the stock has a potential upside of 45.67% over the period. The median price target is 50.71% away from the current levels at $1.40.
FactSet Research has provided data showing that 6 brokerages have issued ratings for the stock. 0 analysts have rated it as a sell, while 1 advise that it is a overweight. 0 analysts have rated it as a buy and 5 have advised that investors hold their positions. The consensus recommendation rating is Hold and Wall Street’s advice is for investors to Moderate Buy the stock.
The company shares received a number of brokerage firm price updates over the past month, with the latest being on March 18, 2020 when Alliance Global Partners downgraded the stock to “Neutral” and issued a price target of . Johnson Rice also downgraded the stock to “Accumulate” from Buy on March 17, 2020 at a price target of . SunTrust downgraded its price target at $1.
The current price level is -34.05%, -37.96%, and -52.61% away from its SMA20, SMA50, and SMA200 respectively, with the REI price moving above the 50-day SMA on August 31. Ring Energy Inc. (REI) stock is down -24.48% over the week and -37.71% over the past month. Its price is -74.05% year-to-date and -53.07% over the past year.
The stock last released its quarterly earnings report for quarter ended 6/29/2020, with the company’s earnings per share (EPS) of $0.4 above consensus estimates by $0.4. The company’s next earnings report is expected on 11/10/2020, with forecasts estimating quarterly EPS at $0 and $0.23 for whole year. REI’s earnings per share are forecast to shrink by -60.30% this year and -104.30% over next year. Expected sales for next quarter are $27.97 million, which analysts say will come at $106.54 million for the current fiscal year and next year at $110.98 million. In addition, estimates put the company’s current quarterly revenue at an average of $26.86 million.
Its 12-month price target is $1.40. To reach the target analysts have set, the stock logically needs to grow 45.67 percent from here. Of course, the average price target is just what the average analysts believe a stock will be worth in the next 52 weeks, and is only one metric. There are analysts with lower targets than the average, including one bearish Wall Street research firm advocating investors to wait for the price to pull back to $1.00, given the recent momentum. And then, on the bullish side of things, one analyst is expecting the stock to peak at $2.02.
Outstanding shares total 67.98M with insiders holding 17.77% of the shares and institutional holders owning 63.36% of the company’s common stock. The company has a return on investment of 5.20% and return on equity of -15.10%. The beta has a value of 2.69. Price to book ratio is 0.11 and price to sales ratio is 0.31.
According to a U.S. Securities and Exchange Commission filing, iShares Core S&P Small Cap ETF has added its position in Ring Energy Inc. (REI) to 3,724,036 shares, mirroring a recent increase by 0.36%. iShares Core S&P Small Cap ETF added 13314.0 shares of Ring Energy Inc. common stock bringing its total worth to about $4.1 million at the end of recent close, SEC documents show. iShares Core S&P Small Cap ETF isn’t the only investment manager who changed stakes and is followed by Vanguard Total Stock Market Index, which sold off 0.0 shares to end up with 1,214,955 shares worth $1.34 million. Vanguard Extended Market Index Fu cut their holdings by 0.00% in the company over the course of the most recent quarter. It now holds a 1.34% position in Ring Energy Inc. thanks to 0.91 million shares amounting to $1.0 million.