Ring Energy Inc. [AMEX: REI] loss -10.42% or -0.2 points to close at $1.72 with a heavy trading volume of 4242454 shares. The company report on March 9, 2023 that Ring Energy Announces Record Fourth Quarter and Full Year 2022 Results, Nearly 80% Increase in Year-End 2022 Proved Reserves and Provides 2023 Guidance.
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It opened the trading session at $1.85, the shares rose to $1.85 and dropped to $1.70, the range by which the price of stock traded the whole day. The daily chart for REI points out that the company has recorded -40.69% loss over the past six months. However, it is still 6.52% higher than its most recent low trading price.
If we look at the average trading volume of 2.37M shares, REI reached to a volume of 4242454 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here is what top equities market gurus are saying about Ring Energy Inc. [REI]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for REI shares is $5.50 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on REI stock is a recommendation set at 2.70. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
ROTH Capital have made an estimate for Ring Energy Inc. shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on August 01, 2022. The new note on the price target was released on October 14, 2021, representing the official price target for Ring Energy Inc. stock.
The Average True Range (ATR) for Ring Energy Inc. is set at 0.13, with the Price to Sales ratio for REI stock in the period of the last 12 months amounting to 0.99. The Price to Book ratio for the last quarter was 0.46, with the Price to Cash per share for the same quarter was set at 0.02. Price to Free Cash Flow for REI in the course of the last twelve months was 1.55 with Quick ratio for the last quarter at 0.40.
Trading performance analysis for REI stock
Ring Energy Inc. [REI] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -16.91. With this latest performance, REI shares dropped by -25.54% in over the last four-week period, additionally sinking by -40.69% over the last 6 months – not to mention a drop of -47.40% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for REI stock in for the last two-week period is set at 29.46, with the RSI for the last a single of trading hit 24.36, and the three-weeks RSI is set at 33.04 for Ring Energy Inc. [REI]. The present Moving Average for the last 50 days of trading for this stock 2.2352, while it was recorded at 1.8920 for the last single week of trading, and 2.7484 for the last 200 days.
Ring Energy Inc. [REI]: A deeper dive into fundamental analysis
Operating Margin for any stock indicates how profitable investing would be, and Ring Energy Inc. [REI] shares currently have an operating margin of +55.82 and a Gross Margin at +77.47. Ring Energy Inc.’s Net Margin is presently recorded at +39.92.
Return on Equity for this stock inclined to 28.83, with Return on Assets sitting at 13.60.
Ring Energy Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.40 and a Current Ratio set at 0.40.
Ring Energy Inc. [REI]: An earnings per share (EPS) analysis
The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for REI. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Ring Energy Inc. go to 37.00%.
An analysis of insider ownership at Ring Energy Inc. [REI]
There are presently around $157 million, or 52.40% of REI stock, in the hands of institutional investors. The top three institutional holders of REI stocks are: WARBURG PINCUS LLC with ownership of 49,656,894, which is approximately 0% of the company’s market cap and around 9.30% of the total institutional ownership; BLACKROCK INC., holding 6,300,710 shares of the stock with an approximate value of $10.84 million in REI stocks shares; and VANGUARD GROUP INC, currently with $7.36 million in REI stock with ownership of nearly 0.007% of the company’s market capitalization.
Positions in Ring Energy Inc. stocks held by institutional investors increased at the end of Thursday and at the time of the Thursday reporting period, where 68 institutional holders increased their position in Ring Energy Inc. [AMEX:REI] by around 7,205,659 shares. Additionally, 51 investors decreased positions by around 5,937,486 shares, while 20 investors held positions by with 78,392,492 shares. The mentioned changes placed institutional holdings at 91,535,637 shares, according to the latest SEC report filing. REI stock had 22 new institutional investments in for a total of 645,201 shares, while 13 institutional investors sold positions of 2,662,490 shares during the same period.