The stock of Ring Energy Inc. (AMEX:REI) decreased by -$0.06 on Tuesday to finish at $1.88, down -3.09 percent. The last five days have seen an average of 4,090,740 shares of common stock traded. 3 times new highs were reached in the current year, with a fall of -$0.5800. The average number of shares traded over the last 20 days was 2,908,590, while the average volume over the last 50 days totaled 2,559,310.
REI stock dropped -6.93% since last month. On 08/15/23, the company’s shares reached a one-month low of $1.8600. The stock touched a high of $3.46 on 01/23/23, after rallying from a low of $1.62 in 52 weeks. The price of REI stock has declined by -23.58% or -$0.5800 this year, reaching a new high 3 times. Still, the stock price is down -45.74% from the 52-week high.
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Insider Transactions
REI stock investors should be aware that Ring Energy Inc. (REI) stock had its last reported insider trading activity 96 days ago on May 12. On May 12, CEO and Chairman of the Board McKinney Paul D. acquired 25,000 shares at $1.70 each. This transaction resulted in the insider spending $42,500. On Mar 20, HARRIS RICHARD E sold 77,400 shares at a price of US$1.76. After the transaction, the insider now owns 227,694 shares. CEO and Chairman of the Board McKinney Paul D. had earlier bought 50,000 shares on Mar 16 for $1.78 a share. The transaction was completed for $89,000.
Valuation Metrics
Ring Energy Inc. (REI) has a trailing price-to-earnings (P/E) ratio of 2.08. Beta for the stock is 2.04. There are also a few other valuation ratios worth considering, including the trailing price-to-sales (P/S) ratio of 1.02, the price-to-book (PB) ratio of 0.49, and the price-to-cash flow ratio of 5.70.
Financial Health
For the three months ended June 29, Ring Energy Inc.’s quick ratio was 0.50, while its current ratio was 0.50, indicating its inability to pay off its debt. The company’s long-term debt to equity ratio for the quarter ending June 29 is 0.54, and the total debt to equity ratio is 0.54. As far as profitability goes, gross margin for the trailing twelve months is 93.30% percent. Ring Energy Inc.’s EBITDA margin for the year ended June 29 was 72.16%, whereas its operating margin stood at 45.50% for the same period. Based on annual data, it had gross profit of $191.74 million and revenue of $347.25 million.
Investors will also look at the performance of the company’s management in order to determine the potential profitability of their investment. REI’s return on assets (ROA) during the last 12 months has been 11.90%. There was a 17.00% return on investment (ROI) in the past year. In the meantime, the return on equity (ROE) for the last 12 months was 23.20%.
Earnings Surprise
According to Ring Energy Inc.’s quarterly financial report for the quarter that ended June 29. A lower net income was reported in the quarter under review than the previous quarter. Net income for the quarter came in at $79.35 million, while revenues fell by -7.07% to $88.08 million. It was predicted that Ring Energy Inc.’s quarterly earnings would be $0.14, but it ended up being $0.1. EBITDA was $51.67 million for the quarter. At the end of Ring Energy Inc.’s most recent quarter ended June 29, its liabilities totaled 543.17 million, while its total debt was $401.6 million. Equity owned by shareholders amounts to $195.36 million.
Technical Picture
Here’s a quick look at Ring Energy Inc.’s (REI) price momentum from a technical perspective. As of 15 August, the RSI 9-day stood at 27.94%, suggesting the stock is oversold, with a 44.13% historical volatility rate.
The stochastic %K and %D were 7.66% and 9.65% respectively, while the average true range (ATR) was 0.1184. Based on the 14-day stochastic reading of 3.51%, the RSI (14) reading is 37.06%. On the 9-day MACD Oscillator, the stock is at -0.1222, and the 14-day reading is at -0.2248.
Analyst Ratings
Ring Energy Inc. (AMEX: REI) was downgraded by ROTH Capital to a a Neutral rating in its latest research report. The stock was previously rated as a a Buy. Analysts have assigned Ring Energy Inc. (REI) an Overweight rating. REI is a stock that is recommended for selling by 0 brokerage firms, while 2 companies recommend holding. The stock is underweighted by 0 analysts. Among the analysts who rate the stock, 0 rates it overweight and 1 other recommend it as a buy.
What is REI’s price target for the next 12 months?
The current consensus forecast for the stock is between $3.50 and $3.50, with a median target price of $3.50. In analyzing these forecasts, the average price target given by analysts for Ring Energy Inc. (REI) is $3.50.
