Why Ring Energy Inc (AMEX: REI) At $1.63 Is Worth Your Money?

Ring Energy Inc (AMEX:REI) does about 1.80M shares in volume on a normal day but saw 1344791 shares change hands in Friday’s trading. The company now has a market cap of 322.64M USD. Its current market price is $1.63, marking a decrease of -3.55% compared to the previous close of $1.69. 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 $1.7785 and the current price is -32.92% off the 52-week high compared with 30.40% distance from its 52-week low. The 50-day simple moving average of the closing price is $1.9008 and its 200-day simple moving average is $1.6970. If we look at the stock’s price movements over the week, volatility stands at 5.39%, which decreases to 4.52% 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 35.93 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 45.67% 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.

Ring Energy Inc (REI) stock is down -8.94% over the week and -7.91% over the past month. Its price is 11.64% year-to-date and -15.10% over the past year.

To reach the target analysts have set, the stock logically needs to grow 45.67 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 4.14 while the forward price to earnings ratio is 3.49. The beta has a value of 1.73. Price to book ratio is 0.41 and price to sales ratio is 0.88.