How Will Ring Energy Inc (AMEX: REI)’s Current Price Volatility Affect Its Future Potential?

In the last trading session, 1.62 million Ring Energy Inc (AMEX:REI) shares changed hands as the company’s beta touched 1.89. With the company’s per share price at $1.76 changed hands at $0.04 or 2.33% during last session, the market valuation stood at $344.31M. REI’s last price was a discount, traded about -67.61% off its 52-week high of $2.95. The share price had its 52-week low at $1.38, which suggests the last value was 21.59% up since then. When we look at Ring Energy Inc’s average trading volume, we note the 10-day average is 2.79 million shares, with the 3-month average coming to 2.31 million.

Analysts gave the Ring Energy Inc (REI) stock a consensus recommendation rating of an Overweight, calculated at a mean rating of 2.33. 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 $ARMOUR Residential REIT, Inc..

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Ring Energy Inc (AMEX:REI) trade information

Instantly REI was in green as seen at the end of in last trading. With action 15.79%, the performance over the past five days has been green. The jump to weekly highs of 1.7750 on Monday, 11/20/23 added 2.33% to the stock’s daily price. The company’s shares are showing year-to-date downside of -28.46%, with the 5-day performance at 15.79% in the green. However, in the 30-day time frame, Ring Energy Inc (AMEX:REI) is -2.22% down. Looking at the short shares, we see there were 14.4 million shares sold at short interest cover period of 6.83 days.

The consensus price target for the stock as assigned by Wall Street analysts is $3.50, meaning bulls need an upside of 49.71% 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 -98.86% plunge from its current level, while the stock would need to soar -98.86% 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 -6.88% over the past 6 months, a -33.71% in annual growth rate that is considerably lower than the industry average of -30.90%.

Looking at the company’s year-on-year earnings, data shows that the past 5-year has an earnings growth rate of 100.74%. The 2023 estimates are for Ring Energy Inc earnings to decrease by -38.20%, 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 on November 03.

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

If we look at who the major shareholders are, we find that insiders hold 10.05% of Ring Energy Inc shares while 47.85% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 53.19%. There are 47.85% institutions holding the Ring Energy Inc stock share, with Warburg Pincus LLC the top institutional holder. As of Jun 29, 2023, the company held 25.42% of the shares, roughly 49.66 million REI shares worth $84.91 million.

Blackrock Inc. holds the second largest percentage of outstanding shares, with 4.27% or 8.35 million shares worth $14.28 million as of Jun 29, 2023.

Among Mutual Funds, the top two as of Aug 30, 2023 were iShares Russell 2000 ETF and Vanguard Total Stock Market Index Fund. With 2.7 million shares estimated at $5.11 million under it, the former controlled 1.38% of total outstanding shares. On the other hand, Vanguard Total Stock Market Index Fund held about 1.31% of the shares, roughly 2.56 million shares worth around $4.37 million.

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