In the last trading session, 2,915,829 shares of the Ring Energy, Inc.(NYSE:REI) were traded, and its beta was 2.65. Most recently the company’s share price was $1.96, and it changed around $0.01 or 0.01% from the last close, which brings the market valuation of the company to $160.07 Million. REI currently trades at a discount to its 52-week high of $2.4, offering almost -22.45% off that amount. The share price’s 52-week low was $0.43, which indicates that the current value has risen by an impressive 78.06% since then. We note from Ring Energy, Inc.’s average daily trading volume that its 10-day average is 4.84 Million shares, with the 3-month average coming to 5.08 Million.
Ring Energy, Inc. stock received a consensus recommendation rating of Hold, based on a mean score of 2.8. If we narrow it down even further, the data shows that none out of 6 analysts rate the stock as a Sell; another 1 rate it as Overweight. Among the rest, 5 recommended REI as a Hold, whereas none deemed it a Buy, and no one rated it as Underweight. Ring Energy, Inc. is expected to report earnings per share of $0.04 for the current quarter.
Ring Energy, Inc. (NYSE:REI): Trading Information
Instantly REI has showed a green trend with a performance of 0.51% at the end of last trading. The performance over the last five days has remained in the red territory. The rise to weekly highs of $2.25 on Tuesday, Feb 16 increased the stock’s daily price by 12.89%. The company’s shares are currently up 1.97% year-to-date, but still down -0.0798 over the last five days. On the other hand, Ring Energy, Inc. (NYSE:REI) is 0.81% up in the 30-day period. We can see from the shorts that 8.69 Million shares have been sold at a short interest cover period of 1.71 day(s).
The consensus price target as assigned by Wall Street analysts is $1.75, which translates to bears needing to reduce their stock price by -10.71% from its current value. Analyst projections state that REI is forecast to be at a low of $1 and a high of $2.5. In order for the stock price to hit the forecast high, the stock would need to surge +27.55% from its current level, while the stock would need to crash -48.98% from its current level to reach the projected low.
Ring Energy, Inc. (REI) projections and forecasts
Ring Energy, Inc. share prices are not performing particularly well compared to other companies within the same industry. As is evident from the statistics, the company’s shares have risen +94.06 percent over the past six months and at a -79.31% annual growth rate that is well below the industry average of -27%. However, despite this, analysts have decided to cut back on their fiscal year 2021 revenue estimates. The rating firms predict that it will lose -76.5% in revenue this quarter, and will report a decline of -57.1% in the next quarter. The year-over-year growth rate is expected to be -43.4%, down from the previous year.
Consensus estimates provided by 4 financial analysts predict the company will bring in an average of $29.04 Million in revenue for the current quarter. 3 analysts expect Ring Energy, Inc. to make $28.36 Million in revenue for the quarter ending March 01, 2021. The company’s sales for the same quarters a year ago were $52.23 Million and $39.57 Million respectively. Analysts predict that the company’s current quarter sales will drop, forecast at -44.4%. Forecasts for the next quarter put sales growth at -28.3%.
Looking at the company’s year-over-year earnings, the past five years showed a positive earnings growth rate of 6.3%. Ring Energy, Inc. earnings are expected to increase by 198.7% in 2021, but the outlook is positive 37% per year for the next five years.
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Ring Energy, Inc. (NYSE:REI)’s Biggest Investors
Upon looking at major shareholders, it appears that insiders hold 27.86% of Ring Energy, Inc. shares, and 34.28% of them are in the hands of institutional investors. The stock currently has a share float of 47.51%. Ring Energy, Inc. stock is held by 78 institutions, with Aristotle Capital Boston, LLC being the largest institutional investor. By Sep 29, 2020, it held 4.13% of the shares, which is about 3.37 Million shares worth $2.29 Million.
Carlyle Group Inc., with 3.21% or 2.62 Million shares worth $1.78 Million as of Sep 29, 2020, holds the second largest percentage of outstanding shares.