Ring Energy Inc. (AMEX: REI) is -21.14% lower on its value in year-to-date trading and has touched a low of $1.62 and a high of $4.89 in the current 52-week trading range. The question becomes, what are the chances the stock will make a comeback and enjoy potential growth. Why not look at analysts view on what the future holds for the stock. The REI stock was last observed hovering at around $1.94 in the last trading session, with the day’s loss setting it 0.0% off its average median price target of $5.75 for the next 12 months. It is also 75.75% off the consensus price target high of $8.00 offered by 3 analysts, but current levels are 44.57% higher than the price target low of $3.50 for the same period.
Currently trading at $1.94, the stock is 9.20% and 4.79% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 1.32 million and changing 0.00% at the moment leaves the stock -19.84% off its SMA200. REI registered -53.37% loss for a year compared to 6-month loss of -30.71%. The firm has a 50-day simple moving average (SMA 50) of $2.15 and a 200-day simple moving average (SMA200) of $2.90.
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The stock witnessed a 12.14% gain in the last 1 month and extending the period to 3 months gives it a -6.73%, and is 10.23% up over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 4.62% over the week and 5.02% over the month.
Ring Energy Inc. (REI) has around 98 employees, a market worth around $376.50M and $367.20M in sales. Current P/E ratio is 1.80 and Fwd P/E is 3.00. Profit margin for the company is 44.70%. Distance from 52-week low is 19.38% and -60.33% from its 52-week high. The company has generated returns on investments over the last 12 months (17.00%).
Ring Energy Inc. (REI) Analyst Forecasts
Analyst recommendations provided by FactSet shows that the consensus forecast for Ring Energy Inc. (REI) is a “Overweight”. 3 analysts offering their recommendations for the stock have an average rating of 2.70, where 2 rate it as a Hold and 0 think it is a “Overweight”. 1 of the analysts rate the stock as a “Buy”. 0 analysts have rated the stock as a Sell or Underperform.
Ring Energy Inc. is expected to release its quarterly report on 08/09/2023.The EPS is expected to shrink by -38.20% this year
Ring Energy Inc. (REI) Top Institutional Holders
The shares outstanding are 177.98M, and float is at 147.80M with Short Float at 11.08%.
Ring Energy Inc. (REI) Insider Activity
A total of 19 insider transactions have happened at Ring Energy Inc. (REI) in the last six months, with sales accounting for 5 and purchases happening 14 times. The most recent transaction is an insider purchase by McKinney Paul D., the company’s CEO and Chairman of the Board. SEC filings show that McKinney Paul D. bought 25,000 shares of the company’s common stock on May 12 at a price of $1.70 per share for a total of $42500.0. Following the purchase, the insider now owns 1.35 million shares.
Ring Energy Inc. disclosed in a document filed with the SEC on Mar 20 that HARRIS RICHARD E (Director) sold a total of 77,400 shares of the company’s common stock. The trade occurred on Mar 20 and was made at $1.76 per share for $0.14 million. Following the transaction, the insider now directly holds 0.23 million shares of the REI stock.
Still, SEC filings show that on Mar 16, McKinney Paul D. (CEO and Chairman of the Board) acquired 50,000 shares at an average price of $1.78 for $89000.0. The insider now directly holds 1,320,192 shares of Ring Energy Inc. (REI).
Ring Energy Inc. (REI): Who are the competitors?
The company’s main competitors (and peers) include Vital Energy Inc. (VTLE) that is trading -33.94% down over the past 12 months. Mexco Energy Corporation (MXC) is -26.75% down on the 1-year trading charts.