In today’s recent session, 0.81 million shares of the Ring Energy Inc. (AMEX:REI) have been traded, and its beta is 1.78. Most recently the company’s share price was $3.26, and it changed around -$0.32 or -8.94% from the last close, which brings the market valuation of the company to $434.40M. REI at last check was trading at a discount to its 52-week high of $5.09, offering almost -56.13% off that amount. The share price’s 52-week low was $1.81, which indicates that the recent value has risen by an impressive 44.48% since then. We note from Ring Energy Inc.’s average daily trading volume that its 10-day average is 2.4 million shares, with the 3-month average coming to 2.88 million.
Ring Energy Inc. stock received a consensus recommendation rating of an Overweight, based on a mean score of 2.30. If we narrow it down even further, the data shows that 0 out of 3 analysts rate the stock as a Sell; another 0 rate it as Overweight. Among the rest, 1 recommended REI as a Hold, whereas 2 deemed it a Buy, and 0 rated it as Underweight. Ring Energy Inc. is expected to report earnings per share of $0.23 for the current quarter.
Ring Energy Inc. (AMEX:REI) trade information
Instantly REI has been showing red trend so far today with a performance of -8.94% on intraday trading today. The performance over the last five days has remained in the red territory. The rise to weekly highs of 4.30 on Tuesday, 06/21/22 increased the stock’s daily price by 24.19%. The company’s shares are currently up 57.02% year-to-date, but still down -15.76% over the last five days. On the other hand, Ring Energy Inc. (AMEX:REI) is -14.96% down in the 30-day period. We can see from the shorts that 16.8 million shares have been sold at a short interest cover period of 6.57 day(s).
The consensus price target as assigned by Wall Street analysts is $4.80, which translates to bulls needing to increase their stock price by 32.08% from its current value. Analyst projections state that REI is forecast to be at a low of $4.00 and a high of $5.50. In order for the stock price to hit the forecast high, the stock would need to plunge -68.71% from its current level, while the stock would need to crash -22.7% from its current level to reach the projected low.
Ring Energy Inc. (REI) estimates and forecasts
Ring Energy Inc. share prices are performing particularly well compared to other companies within the same industry. As is evident from the statistics, the company’s shares have risen 65.74 percent over the past six months and at a 164.52% annual growth rate that is well above the industry average of 26.50%. Moreover, analysts have decided to roll up on their fiscal year 2022 revenue estimates. The rating firms predict that it will gain 228.60% in revenue this quarter, and will report an increase of 257.10% in the next quarter. The year-over-year growth rate is expected to be 35.70%, up from the previous year.
Consensus estimates provided by 3 financial analysts predict the company will bring in an average of $66.46 million in revenue for the current quarter. 3 analysts expect Ring Energy Inc. to make $68.44 million in revenue for the quarter ending Sep 2022. The company’s sales for the same quarters a year ago were $33.7 million and $43.73 million respectively. Analysts predict that the company’s current quarter sales will jump, forecast at 97.20%. Forecasts for the next quarter put sales growth at 56.50%.
Looking at the company’s year-over-year earnings, the past five years showed a positive earnings growth rate of 15.20%. Ring Energy Inc. earnings are expected to increase by 100.80% in 2022, but the outlook is positive 37.00% per year for the next five years.
Ring Energy Inc.’s next quarterly earnings report is expected to be released around August 08 and August 12.
Ring Energy Inc. (AMEX:REI)’s Major holders
Upon looking at major shareholders, it appears that insiders hold 25.92% of Ring Energy Inc. shares, and 27.62% of them are in the hands of institutional investors. The stock currently has a share float of 37.28%. Ring Energy Inc. stock is held by 129 institutions, with Vanguard Group, Inc. (The) being the largest institutional investor. By Mar 30, 2022, it held 3.21% of the shares, which is about 3.43 million shares worth $13.09 million.
Aristotle Capital Boston, LLC, with 1.95% or 2.08 million shares worth $7.94 million as of Mar 30, 2022, holds the second largest percentage of outstanding shares.
Vanguard Total Stock Market Index Fund and Vanguard Extended Market Index Fund were the top two Mutual Funds as of Mar 30, 2022. The former held 2.17 million shares worth $8.28 million, making up 2.03% of all outstanding shares. On the other hand, Vanguard Extended Market Index Fund held roughly 1.1 million shares worth around $4.21 million, which represents about 1.03% of the total shares outstanding.