During the last session, Ring Energy, Inc. (NYSE:REI)’s traded shares were 3,180,000,000, with the beta value of the company hitting 2.5. At the end of the trading day, the stock’s price was $2.29, reflecting an intraday loss of -2.97% or -$0.07. The 52-week high for the REI share is $3.36, that puts it down -46.72% from that peak though still a striking +81.22% gain since the share price plummeted to a 52-week low of $0.43. The company’s market capitalization is $227.13 Million, and the average intraday trading volume over the past 10 days was 2.69 Million shares, and the average trade volume was 7.46 Million shares over the past three months.
Ring Energy, Inc. (REI) received a consensus recommendation of Overweight from analysts. That translates to a mean rating of 2.6. REI has a Sell rating from none of the analyst(s) out of 5 analysts who have looked at this stock. 3 analyst(s) recommend to Hold the stock while 1 suggest Overweight, and 1 recommend a Buy rating for it. None of the analyst(s) has rated the stock Underweight. Company’s earnings per share (EPS) for the current quarter are expected to be $0.02.
Ring Energy, Inc. (NYSE:REI): Trading Information
Ring Energy, Inc. (REI) registered a -2.97% downside in the last session and has traded in the red over the past 5 sessions. The stock spiked 9.31% in intraday trading to $2.53- this Thursday, Apr 01, hitting a weekly high. The stock’s 5-day price performance is -2.55%, and it has moved by -10.2% in 30 days. Despite these dips, the overall price performance for the year is 247.02%. The short interest in Ring Energy, Inc. (NYSE:REI) is 13.86 Million shares and it means that shorts have 1.86 day(s) to cover.
The consensus price target of analysts on Wall Street is $3.16, which implies an increase of 37.99% to the stock’s current value. The extremes of the forecast give a target low and a target high price of $3 and $3.48 respectively. As a result, REI is trading at a discount of 51.97% off the target high and 31% off the low.
Ring Energy, Inc. (REI) projections and forecasts
Statistics show that Ring Energy, Inc. has underperformed its competitors in share price, compared to the industry in which it operates. Ring Energy, Inc. (REI) shares have gone up +220.28% during the last six months, with a year-to-date growth rate less than the industry average at -60.71% against 14.5%. Yet analysts are winding down their growth forecast for the fiscal year 2021. Revenue is predicted to decline -71.4% this quarter and then fall -87.5% in the quarter after that. In the rating firms’ projections, revenue will increase 13% compared to the previous financial year.
Revenue for the current quarter is expected to be $27.7 Million as predicted by 2 analyst(s). Meanwhile, a consensus of 2 analyst(s) estimates revenue growth to $33.7 Million by the end of June 2021. As per earnings report from last fiscal year’s results, sales for the corresponding quarters totaled $39.57 Million and $10.64 Million respectively. In this case, analysts expect current quarter sales to lessen by -30% and then jump by 216.8% in the coming quarter.
An analysis of the company’s performance over the past 5 years shows that the company’s earnings fell an estimated -61%. While earnings are projected to return -886.8% in 2021, the next five years will return 37% per annum.
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Ring Energy, Inc. (NYSE:REI)’s Biggest Investors
Ring Energy, Inc. insiders own 24.48% of total outstanding shares while institutional holders control 17.69%, with the float percentage being 23.42%. Hudson Bay Capital Management LP is the largest shareholder of the company, while 70 institutions own stock in it. As of Dec 30, 2020, the company held over 3.3 Million shares (or 3.33% of all shares), a total value of $2.18 Million in shares.
The next largest institutional holding, with 3.09 Million shares, is of Aristotle Capital Boston, LLC’s that is approximately 3.12% of outstanding shares. At the market price on Dec 30, 2020, these shares were valued at $2.04 Million.
Also, the Mutual Funds coming in first place with the largest holdings of Ring Energy, Inc. (REI) shares are Vanguard Total Stock Market Index Fund and Vanguard Extended Market Index Fund. Data provided on Dec 30, 2020 indicates that Vanguard Total Stock Market Index Fund owns about 971,271 shares. This amounts to just over 0.98 percent of the company’s overall shares, with a $640.94 Thousand market value. The same data shows that the other fund manager holds slightly less at 912.4 Thousand, or about 0.92% of the stock, which is worth about $602.09 Thousand.