Ring Energy Inc (AMEX:REI) shares, rose in value, with the stock price down by -4.31% to the previous day’s close as strong demand from buyers drove the stock to $2.00.
Actively observing the price movement in the last trading, the stock closed the session at $2.09. The value of beta (5-year monthly) was 1.73 whereas the PE ratio was 3.72 over 12-month period. Referring to stock’s 52-week performance, its high was $2.43, and the low was $1.25. On the whole, REI has fluctuated by 42.86% over the past month.
With the market capitalization of Ring Energy Inc currently standing at about $395.86 million, investors are eagerly awaiting this quarter’s results, scheduled for May 01, 2024 – May 06, 2024. As a result, investors might want to see an improvement in the stock’s price before the company announces its earnings report. Analysts are projecting the company’s earnings per share (EPS) to be $0.1, which is expected to increase to $0.15 for fiscal year $0.43 and then to about $0.47 by fiscal year 2025. Data indicates that the EPS growth is expected to be -15.70% in 2025, while the next year’s EPS growth is forecast to be 9.30%.
Analysts have estimated the company’s revenue for the quarter at $87.68 million, with a low estimate of $83.2 million and a high estimate of $92 million. According to the average forecast, sales growth in current quarter could jump down -0.50%, compared to the corresponding quarter of last year. Wall Street analysts also predicted that in 2025, the company’s y-o-y revenues would reach $364.37 million, representing an increase of 0.90% from the revenues reported in the last year’s results.
Revisions could be a useful indicator to get insight on short-term price movement; so for the company, there were no upward and no downward review(s) in last seven days. We see that REI’s technical picture suggests that short-term indicators denote the stock is a 100% Buy on average. However, medium term indicators have put the stock in the category of Hold while long term indicators on average have been pointing out that it is a 50% Buy.
The stock’s technical analysis shows that the PEG ratio is about 0.10, with the price of REI currently trading nearly 10.44% and 29.30% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 66.33, while the 7-day volatility ratio is showing 4.76% which for the 30-day chart, stands at 5.34%. Furthermore, Ring Energy Inc (REI)’s beta value is 1.79, and its average true range (ATR) is 0.09.
A comparison of Ring Energy Inc (REI) with its peers suggests the former has fared considerably weaker in the market. REI showed an intraday change of -4.31% in last session, and over the past year, it shrunk by -5.21%%.
Data on historical trading for Ring Energy Inc (AMEX:REI) indicates that the trading volumes over the past 10 days have averaged 1.97 million and over the past 3 months, they’ve averaged 1.91 million. According to company’s latest data on outstanding shares, there are 196.84 million shares outstanding.
Nearly 36.96% of Ring Energy Inc’s shares belong to company insiders and institutional investors own 24.18% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 13.34 million shares as on Mar 15, 2024, resulting in a short ratio of 6.81. According to the data, the short interest in Ring Energy Inc (REI) stood at 6.74% of shares outstanding as of Mar 15, 2024; the number of short shares registered in Feb 15, 2024 reached 13.95 million. The stock has risen by 36.99% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the REI stock heading into the next quarter.
