Ring Energy Inc (AMEX:REI) price closed higher on Monday, November 11 and jumping 1.94% above its previous close.
A look at the daily price movement shows that the last close reads $1.55, with intraday deals fluctuated between $1.5001 and $1.63. The company’s 5Y monthly beta was ticking 1.635 while its P/E ratio in the trailing 12-month period read 2.79. Taking into account the 52-week price action we note that the stock hit a 52-week high of $2.20 and 52-week low of $1.25. The stock subtracted -5.95% on its value in the past month.
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Ring Energy Inc, which has a market valuation of $278.95 million, is expected to release its quarterly earnings report in December.
Technical indicators in stocks provide crucial insights into market trends, guiding investors with precise entry and exit points based on price movements for informed decision-making.On the technical perspective front, indicators give REI a short term outlook of 50% Sell on average. Looking at the stock’s medium term indicators we note that it is averaging as a 100% Sell, while an average of long term indicators are currently assigning the stock as 100% Sell.
If we dive deeper into the stock’s performance we see the positive picture represented by the PEG ratio, currently standing at 0.08. The overview shows that REI’s price is at present 2.90% off the SMA20 and -2.18% from the SMA50. The Relative Strength Index (RSI) metric on the 14-day timeframe is pointing at 50.28, with weekly volatility standing at 8.16%. The indicator jumps to 5.10% when calculated based on the past 30 days. Ring Energy Inc (AMEX:REI)’s beta value is holding at 1.61, while the average true range (ATR) indicator is currently reading 0.09.
An analysis of the Ring Energy Inc (AMEX:REI) stock in terms of its daily trading volume indicates that the 3-month average is 1.78 million. However, this figure increases on the past 10-day timeline to an average of 2.24 million.
Current records show that the company has 196.84M in outstanding shares. The insiders’ percentage holdings are 28.46% of outstanding shares while the percentage share held by institutions stands at 29.08%. The stats also highlight that short interest as of 2024-10-15, stood at 14.56 million shares, which puts the short ratio at the time at 6.78. From this we can glean that short interest is 990.00 of company’s current outstanding shares. Notably, we see that shares short in October rose slightly given the previous month’s figure stood at 13.71 million. But the 8.22% upside, the stock’s price has registered year-to-date as of last trading, will likely reignite investor interest given the prospect of it rallying even higher.
