RingCentral Inc. (RNG): Keep paying attention to its insider activity

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NTGR
NTGR

RingCentral Inc. (NYSE:RNG) saw a downside of -5.23% to $35.99 after subtracting -$1.98 on Wednesday. The 5-day average trading volume is 1,287,286 shares of the company’s common stock. It has gained $39.28 in the past week and touched a new high 4 times within the past 5 days. An average of 1,177,377 shares of the company has been traded in the last 20 days, and the 50-day average volume stands at 1,805,547.

RNG’s 1-month performance is 7.35% or $1.33 on its low of $31.62 reached on 01/06/23. The company’s shares have touched a 52-week low of $28.00 and high of $179.16, with the stock’s rally to the 52-week high happening on 01/24/23. YTD, RNG has achieved 7.26% or -$0.41 and has reached a new high 4 times. However, the current price is down -79.92% from the 52-week high price.


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Insider Transactions

RNG stock investors last saw insider trading activity on Jan 10.Marlow John H (SVP, CAO & General Counsel) most recently sold 835 shares at $34.96 per share on Jan 10. This transaction cost the insider $29,189. Chief Accounting Officer, Agarwal Vaibhav, sold 945 shares at a price of $35.42 on Jan 04. Then, on Dec 14, CEO & Chairman Shmunis Vladimir sold 38,017 shares at a price of $39.86 per share. This transaction amounted to $1,515,472.

Valuation Metrics

RNG stock has a beta of 0.85. Moving on to other valuation ratios, the trailing price-to-sales (P/S) ratio is 1.81 while the price to cash flow ratio at 20.57.

RingCentral Inc.’s quick ratio for the period ended September 29 was 1.20, with the current ratio over the same period at 1.20. In terms of profitability, the gross margin trailing 12 months is 67.70%. The firm’s gross profit as reported stood at $1.15 billion against revenue of $1.59 billion.

Earnings Surprise

For the quarterly period ending September 29 this year, Net income and sales went up compared to those figures reported in the previous quarter. Net income grew 48.44% to -$284.62 million, while revenue of -$159.52 million was 43.95% off the previous quarter. Analysts expected RNG to announce $0.5 per share in earnings in its latest quarter, but it posted $0.55, representing a 10.00% surprise. EBITDA for the quarter stood at more than -$88.01 million. RNG stock balance sheet for the quarter ending September 29 shows that total liabilities totaled 2.56 billion, with total debt at $1.68 billion. Shareholders hold equity totaling $95.87 million.

Let’s look briefly at RingCentral Inc. (RNG) price momentum from a technical analysis perspective. The 9-day relative strength index as at close on 24 January was 44.21% to suggest the stock is trending Neutral, with historical volatility in this time period at 61.83%.

The stock’s 5-day moving average is $36.42, reflecting a -3.70% or -$1.35 change from its current price. RNG is currently trading +3.97% above its 20-day SMA, -18.69% above its 100-day SMA. However, the stock’s current price level is away from the SMA50 by -5.16% and SMA200 by-69.59%.

Stochastic %K and %D was 73.36% and 74.33% and the average true range (ATR) pointed at 2.13. The RSI (14) points at 46.53%, while the 14-day stochastic is at 44.06% with the period’s ATR at 2.13. The stock’s 9-day MACD Oscillator is pointing at 0.61 and 1.20 on the 14-day charts.

Analyst Ratings

In the most recent analyst report for RingCentral Inc. (NYSE: RNG), MKM Partners downgraded it to a Neutral rating. They previously had a Buy rating on the stock.

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