In the latest trading session,, 0.51 million Ring Energy Inc (AMEX:REI) shares changed hands as the company’s beta touched 1.76. With the company’s most recent per share price at $1.93 changed hands at -$0.04 or -1.78% at last look, the market valuation stands at $382.99M. REI’s current price is a discount, trading about -25.91% off its 52-week high of $2.43. The share price had its 52-week low at $1.25, which suggests the last value was 35.23% up since then. When we look at Ring Energy Inc’s average trading volume, we note the 10-day average is 2.64 million shares, with the 3-month average coming to 1.95 million.
Ring Energy Inc (AMEX:REI) trade information
Instantly REI was in red as seen in intraday trades today. With action 6.32%, the performance over the past five days has been green. The drop to weekly highs of 1.9800 subtracted -1.78% to the stock’s daily price. The company’s shares are showing year-to-date upside of 32.53%, with the 5-day performance at 6.32% in the green. However, in the 30-day time frame, Ring Energy Inc (AMEX:REI) is 42.28% up. Looking at the short shares, we see there were 13.18 million shares sold at short interest cover period of 8.84 days.
Ring Energy Inc (REI) estimates and forecasts
Data shows that the Ring Energy Inc share is 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 -1.28% over the past 6 months, a 11.76% in annual growth rate that is considerably higher than the industry average of -1.90%. Moreover, analysts have looked to lower expectations by upgrading its fiscal year 2024 revenue estimates. The rating firms predict current quarter revenue for Ring Energy Inc will fall -28.60%, while the growth in revenue is estimated to hit -21.40% for the next quarter. Year-over-year growth is forecast to reach 0.90% up 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 $87.68 million. 3 analysts are of the opinion that Ring Energy Inc’s revenue for the quarter ending Jun 2024 will be $90.63 million. The company’s revenue for the corresponding quarters a year ago was $88.08 million. According to analysts, the company will likely register a growth in its current quarter sales, forecast at -0.50%.
Looking at the company’s year-on-year earnings, data shows that the past 5-year has an earnings growth rate of 29.41%. The 2024 estimates are for Ring Energy Inc earnings to decrease by -14.22%, 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 May 01 and May 06.
Ring Energy Inc (AMEX:REI)’s Major holders
If we look at who the major shareholders are, we find that insiders hold 12.04% of Ring Energy Inc shares while 47.70% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 54.23%. There are 47.70% institutions holding the Ring Energy Inc stock share, with Warburg Pincus LLC the top institutional holder. As of Dec 30, 2023, the company held 23.30% of the shares, roughly 46.12 million REI shares worth $89.03 million.
Blackrock Inc. holds the second largest percentage of outstanding shares, with 3.95% or 7.82 million shares worth $15.1 million as of Dec 30, 2023.
Among Mutual Funds, the top two as of Jan 30, 2024 were iShares Russell 2000 ETF and Vanguard Total Stock Market Index Fund. With 2.93 million shares estimated at $5.65 million under it, the former controlled 1.48% of total outstanding shares. On the other hand, Vanguard Total Stock Market Index Fund held about 1.35% of the shares, roughly 2.67 million shares worth around $5.15 million.
