In the last trading session, 7.34 million Ring Energy Inc. (AMEX:REI) shares changed hands as the company’s beta touched 2.04. With the company’s per share price at $1.93 changed hands at -$0.08 or -3.98% during last session, the market valuation stood at $392.70M. REI’s last price was a discount, traded about -79.27% off its 52-week high of $3.46. The share price had its 52-week low at $1.62, which suggests the last value was 16.06% up since then. When we look at Ring Energy Inc.’s average trading volume, we note the 10-day average is 3.06 million shares, with the 3-month average coming to 2.44 million.

Analysts gave the Ring Energy Inc. (REI) stock a consensus recommendation rating of an Overweight, calculated at a mean rating of 2.70. If we narrow down to specifics, the data shows that 0 out of 3 analysts rate the stock as a Sell, with a further 0 assigning it an Overweight rating. Of the remaining, 2 recommended REI as a Hold, 1 felt it is a Buy and 0 rated the stock as Underweight. Ring Energy Inc.’s EPS for the current quarter is expected to be $0.11.

Ring Energy Inc. (AMEX:REI) trade information

Instantly REI was in red as seen at the end of in last trading. With action 0.52%, the performance over the past five days has been green. The drop to weekly highs of 2.0700 on Friday, 09/15/23 subtracted -3.98% to the stock’s daily price. The company’s shares are showing year-to-date downside of -21.54%, with the 5-day performance at 0.52% in the green. However, in the 30-day time frame, Ring Energy Inc. (AMEX:REI) is 2.66% up. Looking at the short shares, we see there were 16.03 million shares sold at short interest cover period of 6.43 days.

The consensus price target for the stock as assigned by Wall Street analysts is $3.50, meaning bulls need an upside of 44.86% from its current market value. According to analyst projections, REI’s forecast low is $3.50 with $3.50 as the target high. To hit the forecast high, the stock’s price needs a -81.35% plunge from its current level, while the stock would need to soar -81.35% for it to hit the projected low.

Ring Energy Inc. (REI) estimates and forecasts

Data shows that the Ring Energy Inc. share is performing relatively much not better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot 10.92% over the past 6 months, a -33.71% in annual growth rate that is considerably lower than the industry average of -31.10%. Moreover, analysts have looked to lower expectations by upgrading its fiscal year 2023 revenue estimates. The rating firms predict current quarter revenue for Ring Energy Inc. will fall -60.70%. Year-over-year growth is forecast to reach -0.20% down from the last financial year.

Consensus estimates given by 3 financial analysts project the company’s revenue in the current quarter to hit an average of $87.23 million. 3 analysts are of the opinion that Ring Energy Inc.’s revenue for the quarter ending Dec 2023 will be $91.64 million. The company’s revenue for the corresponding quarters a year ago was $94.41 million and $99.7 million respectively. According to analysts, the company will likely register a growth in its current quarter sales, forecast at -7.60%. The estimates for the next quarter sales put growth at -8.10%.

Looking at the company’s year-on-year earnings, data shows that the past 5-year has an earnings growth rate of 42.80%. The 2023 estimates are for Ring Energy Inc. earnings to decrease by -39.30%, but the outlook for the next 5-year period is at 37.00% per year.

REI Dividends

Ring Energy Inc. is expected to release its next quarterly earnings report between November 07 and November 13.

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