Ring Energy Inc (AMEX:REI) does about 1.73M shares in volume on a normal day but saw 940529 shares change hands in the recent trading day. The company now has a market cap of 321.04M USD. Its current market price is $1.62, marking a decrease of -3.57% compared to the previous close of $1.68. The 52 week high reached by this stock is $2.20 whilst the lowest price level in 52 weeks is $1.25.
Ring Energy Inc (REI) has a 20-day trading average at $1.6740 and the current price is -26.29% off the 52-week high compared with 29.60% distance from its 52-week low. The 50-day simple moving average of the closing price is $1.7320 and its 200-day simple moving average is $1.7042. If we look at the stock’s price movements over the week, volatility stands at 4.21%, which increases 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 44.25 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 46.0% 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.
The current price level is -3.23%, -6.47%, and -4.94% away from its SMA20, SMA50, and SMA200 respectively, with the REI price moving above the 50-day SMA on current market day. Ring Energy Inc (REI) stock is down -6.90% over the week and -5.81% over the past month. Its price is 10.96% year-to-date and -8.47% over the past year.
The stock last released its quarterly earnings report for quarter ended 6/30/2024, with the company’s earnings per share (EPS) of 0.13 above consensus estimates by 0.01. The company’s next earnings report forecasts estimating quarterly EPS at 0.1 and 0.41 for whole year. Expected sales for next quarter are $94.24M, which analysts say will come at $381.41M for the current fiscal year and next year at $390.09M. In addition, estimates put the company’s current quarterly revenue at an average of $93.42M.
To reach the target analysts have set, the stock logically needs to grow 46.0 percent from here.
Outstanding shares total 196.84M with insiders holding 12.37% of the shares and institutional holders owning 46.20% of the company’s common stock. The company has a return on investment of 5.81% and return on equity of 9.16%. The price to earnings ratio (P/E ratio) amounts to 4.52 while the forward price to earnings ratio is 3.45. The beta has a value of 1.62. Price to book ratio is 0.39 and price to sales ratio is 0.83.
