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Ring Energy Inc. (AMEX: REI) Has Been Rising 1.57% Since The Beginning Of The Year. Troubles Ahead?

During the last session, Ring Energy Inc. (AMEX:REI)’s traded shares were 3.61 million, with the beta value of the company hitting 1.96. At the end of the trading day, the stock’s price was $2.59, reflecting an intraday loss of -3.00% or -$0.08. The 52-week high for the REI share is $5.09, that puts it down -96.53 from that peak though still a striking 30.12% gain since the share price plummeted to a 52-week low of $1.81. The company’s market capitalization is $260.94M, and the average intraday trading volume over the past 10 days was 2.04 million shares, and the average trade volume was 2.59 million shares over the past three months.

Ring Energy Inc. (REI) received a consensus recommendation of an Overweight from analysts. That translates to a mean rating of 2.30. REI has a Sell rating from 0 analyst(s) out of 3 analysts who have looked at this stock. 2 analyst(s) recommend to Hold the stock while 0 suggest Overweight, and 1 recommend a Buy rating for it. 0 analyst(s) has rated the stock Underweight. Company’s earnings per share (EPS) for the current quarter are expected to be $0.23.

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Ring Energy Inc. (AMEX:REI) trade information

Ring Energy Inc. (REI) registered a -3.00% downside in the last session and has traded in the red over the past 5 sessions. The stock plummet -3.00% in intraday trading to $2.59 this Thursday, 08/04/22, hitting a weekly high. The stock’s 5-day price performance is -2.26%, and it has moved by 10.21% in 30 days. Based on these gigs, the overall price performance for the year is 1.57%. The short interest in Ring Energy Inc. (AMEX:REI) is 17.11 million shares and it means that shorts have 5.59 day(s) to cover.

The consensus price target of analysts on Wall Street is $5.33, which implies an increase of 51.41% to the stock’s current value. The extremes of the forecast give a target low and a target high price of $3.00 and $7.50 respectively. As a result, REI is trading at a discount of -189.58% off the target high and -15.83% off the low.

Ring Energy Inc. (REI) estimates and forecasts

Statistics show that Ring Energy Inc. has outperformed its competitors in share price, compared to the industry in which it operates. Ring Energy Inc. (REI) shares have gone down -0.77% during the last six months, with a year-to-date growth rate more than the industry average at 196.77% against 25.10. Yet analysts are ramping up their growth forecast for the fiscal year 2022. Revenue is predicted to grow 228.60% this quarter and then jump 242.90% in the quarter after that. In the rating firms’ projections, revenue will increase 61.90% compared to the previous financial year.

Revenue for the current quarter is expected to be $66.46 million as predicted by 3 analyst(s). Meanwhile, a consensus of 3 analyst(s) estimates revenue growth to $68.44 million by the end of Sep 2022. As per earnings report from last fiscal year’s results, sales for the corresponding quarters totaled $33.7 million and $43.73 million respectively. In this case, analysts expect current quarter sales to grow by 97.20% and then jump by 56.50% in the coming quarter.

An analysis of the company’s performance over the past 5 years shows that the company’s earnings grew an estimated 15.20%. While earnings are projected to return 100.80% in 2022, the next five years will return 37.00% per annum.

REI Dividends

Ring Energy Inc. is due to release its next quarterly earnings between March 14 and March 18. However, it is important to remember that the dividend yield ratio is merely an indicator meant to only serve as guidance.

Ring Energy Inc. (AMEX:REI)’s Major holders

Ring Energy Inc. insiders own 25.75% of total outstanding shares while institutional holders control 27.43%, with the float percentage being 36.93%. Vanguard Group, Inc. (The) is the largest shareholder of the company, while 134 institutions own stock in it. As of Mar 30, 2022, the company held over 3.43 million shares (or 3.21% of all shares), a total value of $13.09 million in shares.

The next largest institutional holding, with 2.08 million shares, is of Aristotle Capital Boston, LLC’s that is approximately 1.95% of outstanding shares. At the market price on Mar 30, 2022, these shares were valued at $7.94 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 iShares Russell 2000 ETF. Data provided on Mar 30, 2022 indicates that Vanguard Total Stock Market Index Fund owns about 2.17 million shares. This amounts to just over 2.03 percent of the company’s overall shares, with a $8.28 million market value. The same data shows that the other fund manager holds slightly less at 2.03 million, or about 1.90% of the stock, which is worth about $5.39 million.

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