Ring Energy Inc (AMEX:REI) does about 1.92M shares in volume on a normal day but saw 3201292 shares change hands in the recent trading day. The company now has a market cap of 219.95M USD. Its current market price is $1.10, marking an increase of 0.92% compared to the previous close of $1.09. The 52 week high reached by this stock is $2.20 whilst the lowest price level in 52 weeks is $1.08. The script in recent trading has seen the stock touch a high of $2.5 and a low of $2.5.
Ring Energy Inc (REI) has a 20-day trading average at $1.2755 and the current price is -49.95% off the 52-week high compared with 1.85% distance from its 52-week low. The 50-day simple moving average of the closing price is $1.3404 and its 200-day simple moving average is $1.5840. If we look at the stock’s price movements over the week, volatility stands at 6.62%, which decreases to 5.41% 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 29.04 to suggest the stock is oversold.
The consensus objective for the share price is $2.75, suggesting that the stock has a potential upside of 60.0% over the period. The median price target is 56.0% away from the current levels at $2.5.
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 -13.76%, -17.93%, and -30.56% 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 -8.33% over the week and -14.73% over the past month. Its price is -19.12% year-to-date and -22.54% over the past year.
Its 12-month price target is $2.5. To reach the target analysts have set, the stock logically needs to grow 60.0 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 $2.5, given the recent momentum. And then, on the bullish side of things, one analyst is expecting the stock to peak at $2.5.
Outstanding shares total 198.56M with insiders holding 10.64% of the shares and institutional holders owning 47.83% of the company’s common stock. The company has a return on investment of 5.42% and return on equity of 8.20%. The price to earnings ratio (P/E ratio) amounts to 3.27 while the forward price to earnings ratio is 2.53. The beta has a value of 1.09. Price to book ratio is 0.25 and price to sales ratio is 0.60.
