Ring Energy Inc (REI): The Latest Casualty Of Increased Volatility?

Ring Energy Inc (AMEX:REI) does about 1.76M shares in volume on a normal day but saw 1559755 shares change hands in Tuesday’s trading. The company now has a market cap of 354.31M USD. Its current market price is $1.79, marking an increase of 1.13% compared to the previous close of $1.77. The 52 week high reached by this stock is $2.43 whilst the lowest price level in 52 weeks is $1.25.

Ring Energy Inc (REI) has a 20-day trading average at $1.9095 and the current price is -26.34% off the 52-week high compared with 43.20% distance from its 52-week low. The 50-day simple moving average of the closing price is $1.8876 and its 200-day simple moving average is $1.7207. If we look at the stock’s price movements over the week, volatility stands at 3.45%, which increases to 3.98% 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 41.40 to suggest the stock is neutral.

The consensus objective for the share price is $3.00, suggesting that the stock has a potential upside of 40.33% over the period.

The company shares received a number of brokerage firm price updates over the past month, with the latest being on August 01, 2022 when ROTH Capital downgraded the stock to “Neutral” and issued a price target of between $4.90 and $7.50. ROTH Capital upgraded the stock to “Buy” from Neutral on October 14, 2021 at a price target of $4.75.

Its price is 22.60% year-to-date and 3.47% over the past year.

To reach the target analysts have set, the stock logically needs to grow 40.33 percent from here.

The company has a return on investment of 6.38% and return on equity of 10.41%. The price to earnings ratio (P/E ratio) amounts to 4.55 while the forward price to earnings ratio is 3.84. The beta has a value of 1.67. Price to book ratio is 0.45 and price to sales ratio is 0.96.