Ring Energy Inc (AMEX:REI) price on Thursday, November 14, rose 1.32% above its previous day’s close as an upside momentum from buyers pushed the stock’s value to $1.54.
A look at the stock’s price movement, the close in the last trading session was $1.52, moving within a range at $1.505 and $1.55. The beta value (5-Year monthly) was 1.635 while the PE ratio in trailing twelve months stood at 2.72. Turning to its 52-week performance, $2.20 and $1.25 were the 52-week high and 52-week low respectively. Overall, REI moved -2.53% over the past month.
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Ring Energy Inc’s market cap currently stands at around $305.22 million, with investors looking forward to this quarter’s earnings report slated for in December.
Analysts have a consensus estimate of 87.5M for the company’s revenue for the quarter, with a low and high estimate of 86.4M and 89M respectively. The average forecast suggests down to a -12.45% growth in sales growth compared to quarterly growth in the same period last fiscal year. Wall Street analysts have also projected the company’s year-on-year revenue to grow to 369.87M, representing a 2.44% jump on that reported in the last financial year.
Turning to the stock’s technical picture we see that short term indicators suggest on average that REI is a 50% Sell. On the other hand, the stock is on average a 100% Sell as suggested by medium term indicators while long term indicators are putting the stock in 100% Sell category.
The technical evaluation for the stock shows the PEG ratio is 0.07, with REI’s current price about 0.69% and -4.21% off the 20-day and 50-day simple moving averages respectively. The Relative Strength Index (RSI, 14) currently prints 47.79, while 7-day volatility ratio is 7.50% and 5.21% in the 30-day chart. Further, Ring Energy Inc (REI) has a beta value of 1.61, and an average true range (ATR) of 0.09.
If we refocus on Ring Energy Inc (AMEX:REI), historical trading data shows that trading volumes averaged 2.36 over the past 10 days and 1.81 million over the past 3 months. The company’s latest data on shares outstanding shows there are 196.84 million shares.
The 28.46% of Ring Energy Inc’s shares are in the hands of company insiders while institutional holders own 31.88% of the company’s shares. Also important is the data on short interest which shows that short shares stood at 14.98 million on 2024-10-31, giving us a short ratio of 7.82. The data shows that as of 2024-10-31 short interest in Ring Energy Inc (REI) stood at 1019.0000000000001 of shares outstanding, with shares short rising to 13.99 million registered in 2024-09-30. Current price change has pushed the stock 5.48% YTD, which shows the potential for further growth is there. It is this reason that could see investor optimism for the REI stock continues to rise going into the next quarter.
