Ring Energy Inc (AMEX:REI) does about 2.31M shares in volume on a normal day but saw 4044488 shares change hands in the recent trading day. The company now has a market cap of 156.44M USD. Its current market price is $0.76, marking an increase of 2.70% compared to the previous close of $0.74. The 52 week high reached by this stock is $2.06 whilst the lowest price level in 52 weeks is $0.72. The script in recent trading has seen the stock touch a high of $2.5 and a low of $2.5.
The consensus objective for the share price is $3.47, suggesting that the stock has a potential upside of 78.1% over the period. The median price target is 69.6% 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 -6.93%, -16.96%, and -43.70% 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 -4.05% over the week and -15.83% over the past month. Its price is -44.30% year-to-date and -57.92% over the past year.
The company’s next earnings report forecasts estimating quarterly EPS at 0.02 and 0.16 for whole year. Expected sales for next quarter are $83.8M, which analysts say will come at $326.3M for the current fiscal year and next year at $363.1M. In addition, estimates put the company’s current quarterly revenue at an average of $79.9M.
Its 12-month price target is $2.5. To reach the target analysts have set, the stock logically needs to grow 78.1 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 206.51M with insiders holding 10.45% of the shares and institutional holders owning 44.54% of the company’s common stock. The company has a return on investment of 5.31% and return on equity of 8.52%. The price to earnings ratio (P/E ratio) amounts to 2.14 while the forward price to earnings ratio is 2.71. The beta has a value of 0.76. Price to book ratio is 0.18 and price to sales ratio is 0.45.
