In the last trading session, 2,345,252 Ring Energy, Inc. (NYSE:REI) shares changed hands as the company’s beta touched 2.46. With the company’s per share price at $2.68 changed hands at -$0.11 or -0.04% during last session, the market valuation stood at $266.06 Million. REI’s last price was a discount, traded about -25.37% off its 52-week high of $3.36. The share price had its 52-week low at $0.43, which suggests the last value was 83.96% up since then. When we look at Ring Energy, Inc.’s average trading volume, we note the 10-day average is 3.24 Million shares, with the 3-month average coming to 2.61 Million.
Analysts gave the Ring Energy, Inc. (REI) stock a consensus recommendation rating of Overweight, calculated at a mean rating of 2.7. If we narrow down to specifics, the data shows that none out of 3 analysts rate the stock as a Sell, with a further none assigning it an Overweight rating. Of the remaining, 2 recommended REI as a Hold, 1 felt it is a Buy and none rated the stock as Underweight. Ring Energy, Inc.’s EPS for the current quarter is expected to be $0.04.
Ring Energy, Inc. (NYSE:REI) trade information
Although REI has turned red as seen at the end of in last trading. With action -3.94%, the performance over the past five days has been green. The jump to weekly highs of $3.11- on Wednesday, Jun 16 added 13.83% to the stock’s daily price. The company’s shares are showing year-to-date upside of 3.06%, with the 5-day performance at 0.02% in the green. However, in the 30-day time frame, Ring Energy, Inc. (NYSE:REI) is 0.14% up. Looking at the short shares, we see there were 13.57 Million shares sold at short interest cover period of 5.2 days.
The consensus price target for the stock as assigned by Wall Street analysts is $3.24, meaning bulls need an upside of 20.9% from its current market value. According to analyst projections, REI’s forecast low is $3 with $3.48 as the target high. To hit the forecast high, the stock’s price needs a +29.85% upsurge from its current level, while the stock would need to tank 11.94% for it to hit the projected low.
Ring Energy, Inc. (REI) estimates and forecasts
Data shows that the Ring Energy, Inc. share is not performing relatively much better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot +270.11% over the past 6 months, a -21.43% in annual growth rate that is considerably lower than the industry average of 4.4%. But despite this, analysts have looked to lower expectations by downgrading its fiscal year 2021 revenue estimates. The rating firms predict current quarter revenue for Ring Energy, Inc. will drop -90%, while the growth in revenue is estimated to hit 20% for the next quarter. Year-over-year growth is forecast to reach 14.8% up from the last financial year.
Consensus estimates given by 2 financial analysts project the company’s revenue in the current quarter to hit an average of $32.2 Million. 2 analysts are of the opinion that Ring Energy, Inc.’s revenue for the quarter ending September 01, 2021 will be $33.55 Million. The company’s revenue for the corresponding quarters a year ago was $10.64 Million and $31.47 Million respectively. According to analysts, the company will likely register a growth in its current quarter sales, forecast at 202.7%. The estimates for the next quarter sales put growth at 6.6%.
Looking at the company’s year-on-year earnings, data shows that the past 5-year has an earnings growth rate of -61%. The 2021 estimates are for Ring Energy, Inc. earnings to decrease by -886.8%, but the outlook for the next 5-year period is at 37% per year.
Ring Energy, Inc. (NYSE:REI)’s Major holders
If we look at who the major shareholders are, we find that insiders hold 32.55% of Ring Energy, Inc. shares while 17.58% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 26.06%. There are 85 institutions holding the Ring Energy, Inc. stock share, with Aristotle Capital Boston, LLC the top institutional holder. As of Mar 30, 2021, the company held 3.15% of the shares, roughly 3.13 Million REI shares worth $7.22 Million.
Vanguard Group, Inc. (The) holds the second largest percentage of outstanding shares, with 2.78% or 2.76 Million shares worth $6.38 Million as of Mar 30, 2021.
Among Mutual Funds, the top two as of Mar 30, 2021 were Vanguard Total Stock Market Index Fund and Vanguard Extended Market Index Fund. With 1699471 shares estimated at $3.93 Million under it, the former controlled 1.71% of total outstanding shares. On the other hand, Vanguard Extended Market Index Fund held about 0.97% of the shares, roughly 959.8 Thousand shares worth around $2.22 Million.