Ring Energy Inc (REI) concluded trading on 01/11/24 at a closing price of $1.37, with 2.39 million shares of worth about $3.28 million changed hands on the day. Half year performance of the stock remained negative as price took a plunge of -36.28% during that period and on Thursday the price saw a loss of about -3.52%. Currently the company’s common shares owned by public are about 175.53M shares, out of which, 131.00M shares are available for trading.
A deeper look into what the analysts at Wall Street are thinking about the price target of this stock provides us with the following: 3 analysts are covering the REI stock and their offered price forecasts bring an average price target of $3.50. Over the next 12 months, analysts forecasted that the stock’s price could jump as high as $3.50 and could fall to a lowest price of $3.50. The stock’s current price level is 60.86% above of average price target set by the analysts, while a rise to estimated low would result in gain of 60.86% for the stock. However, touching the estimated high of $3.50 would mean a gain of 60.86% for the stock.
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According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 39 times over the past 12 months. They bought 1,472,750 shares in 17 of the transactions. In 22 selling transactions, insiders dumped 40,717,513 shares.
Stock saw a price change of -7.43% in past 5 days and over the past one month there was a price change of -5.52%. Year-to-date (YTD), REI shares are showing a performance of -6.16% which decreased to -40.43% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $1.37 but also hit the highest price of $2.54 during that period. The average intraday trading volume for Ring Energy Inc shares is 2.14 million. The stock is currently trading -7.84% below its 20-day simple moving average (SMA20), while that difference is down -12.21% for SMA50 and it goes to -24.56% lower than SMA200.
Ring Energy Inc (AMEX: REI) currently have 175.53M outstanding shares and institutions hold larger chunk of about 25.51% of that.
The stock has a current market capitalization of $268.01M and its 3Y-monthly beta is at 1.74. PE ratio of stock for trailing 12 months is 3.79, while it has posted earnings per share of $0.36 in the same period. Its PEG reads 0.10 and has Quick Ratio of 0.35 while making debt-to-equity ratio of 0.59. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for REI, volatility over the week remained 3.63% while standing at 5.41% over the month.
Analysts are in expectations that Ring Energy Inc (REI) stock would likely to be making an EPS of $0.12 in the current quarter, while forecast for next quarter EPS is $0.14 and it is $0.58 for next year. For the current quarter EPS, analysts have given the company a lowest target $0.09 which is $0.15 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of $0.13 in the same quarter a year ago. Stock’s fiscal year EPS is expected to drop by -44.94% while it is estimated to increase by 20.41% in next year. EPS is likely to shrink at an annualized rate of 37.00% for next 5-years, compared to annual growth of 100.74% made by the stock over the past 5-years.
Analysts at 3 brokerage firms have issued recommendations for the Ring Energy Inc (REI)’s stock and average of those rates the stock at a “Moderate Buy” and assign it a score of 2.33. Out of those 3 Wall Street analysts, 1 recommended a “Buy” rating, while 2 were in favor recommending the stock as a “Hold” and 0 analyst recommended the stock as “Sell”.
Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by ROTH Capital on August 01, 2022 offering a Neutral rating for the stock and assigned a target price range of between $4.90 and $7.50 to it.
