Ring Energy Inc (AMEX:REI) price closed higher on current market day and jumping 2.46% above its previous close.
A look at the daily price movement shows that the last close reads $0.78. The company’s P/E ratio in the trailing 12-month period read 2.26. Taking into account the 52-week price action we note that the stock hit a 52-week high of $2.06 and 52-week low of $0.72. The stock subtracted -5.46% on its value in the past month.
On average, analysts have forecast the company’s revenue for the quarter will hit 79.9M, with the likely lows of 78.8M and highs of 81M. The average estimate suggests sales growth for the quarter will likely fall by -19.41% when compared to those recorded in the same quarter in the last financial year. Staying with the analyst view, there is a consensus estimate of 326.3M for the company’s annual revenue in current year. Per this projection, the revenue is forecast to grow -10.93% below that which the company brought in the current year earning report.
The overview shows that REI’s price is at present 1.58% off the SMA20 and -7.08% from the SMA50. The Relative Strength Index (RSI) metric on the 14-day timeframe is pointing at 48.37, with weekly volatility standing at 3.05%. The indicator jumps to 3.40% when calculated based on the past 30 days. Ring Energy Inc (AMEX:REI)’s beta value is holding at 0.77, while the average true range (ATR) indicator is currently reading 0.05. Considering analysts have assigned the stock a price target range of $2.5-$2.5 as the low and high respectively, we find the trailing 12-month average consensus price target to be $2.5. Based on this estimate, we see that current price is roughly -212.5% off the estimated low and -212.5% off the forecast high. Investors will no doubt be excited to see the share price fall to $2.5, which is the median consensus price, and at that level REI would be -212.5% from current price.
Current records show that the company has 206.51M in outstanding shares. The insiders’ percentage holdings are 24.89% of outstanding shares while the percentage share held by institutions stands at 30.20%. But the -41.09% downside, 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.
