Ring Energy Inc (AMEX:REI) saw an upside of 4.55% to $1.96 after adding $0.09 on Monday. The 5-day average trading volume is 1,676,845 shares of the company’s common stock. It has gained $1.9900 in the past week and touched a new high 1 time within the past 5 days. An average of 2,323,691 shares of the company has been traded in the last 20 days, and the 50-day average volume stands at 2,456,457.
REI’s 1-month performance is 8.61% or $0.1300 on its low of $1.8300 reached on 08/29/23. The company’s shares have touched a 52-week low of $1.62 and high of $3.46, with the stock’s rally to the 52-week high happening on 01/23/23. YTD, REI has lost -20.53% or -$0.4800 and has reached a new high 3 times. However, the current price is down -43.58% from the 52-week high price.
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Insider Transactions
REI stock investors last saw insider trading activity on Sep 12.Warburg Pincus (E&P) XII LLC (10% Owner) most recently sold 12,600,000 shares at $2.06 per share on Aug 09. This transaction cost the insider $25,956,000. 10% Owner, Warburg Pincus & Co US, LLC, sold 12,600,000 shares at a price of $2.06 on Aug 09. Then, on Aug 09, 10% Owner STRONGHOLD ENERGY II OPERATING sold 12,600,000 shares at a price of $2.06 per share. This transaction amounted to $25,956,000.
Valuation Metrics
REI stock has a beta of 2.02. Moving on to other valuation ratios, the trailing price-to-sales (P/S) ratio is 1.06 while the price-to-book (PB) in the most recent quarter is 0.52, with the price to cash flow ratio at 5.90.
Ring Energy Inc’s quick ratio for the period ended June 29 was 0.47, with the current ratio over the same period at 0.55. As well, the company’s long term debt to equity for the quarter ending June 29 was 0.54, while the total debt to equity was 0.54. In terms of profitability, the gross margin trailing 12 months is 71.77%. The trailing 12-month EBITDA margin is 72.16% while for the period ending June 29, Ring Energy Inc’s operating margin was 45.78%. The firm’s gross profit as reported stood at $191.74 million against revenue of $347.25 million.
Earnings Surprise
For the quarterly period ending June 29 this year, Net income and sales went down compared to those figures reported in the previous quarter. Net income shrunk -45.68% to $28.79 million, while revenue of $32.72 million was -13.65% off the previous quarter. Analysts expected REI to announce $0.1 per share in earnings in its latest quarter, but it posted $0.14, representing a 40.00% surprise. EBITDA for the quarter stood at more than $51.67 million. REI stock balance sheet for the quarter ending June 29 shows that total liabilities totaled 543.17 million, with total debt at $401.6 million. Shareholders hold equity totaling $195.36 million.
Let’s look briefly at Ring Energy Inc (REI) price momentum from a technical analysis perspective. The 9-day relative strength index as at close on 22 September was 58.09% to suggest the stock is trending Neutral, with historical volatility in this time period at 41.07%.
The stock’s 5-day moving average is $1.9040, reflecting a +2.59% or $0.0500 change from its current price. REI is currently trading +7.03% above its 20-day SMA, +13.79% above its 100-day SMA. However, the stock’s current price level is away from the SMA50 by -1.49% and SMA200 by-16.46%.
Stochastic %K and %D was 28.99% and 21.26% and the average true range (ATR) pointed at 0.0902. The RSI (14) points at 53.83%, while the 14-day stochastic is at 60.87% with the period’s ATR at 0.0928. The stock’s 9-day MACD Oscillator is pointing at -0.0244 and -0.0205 on the 14-day charts.
Analyst Ratings
In the most recent analyst report for Ring Energy Inc (AMEX: REI), ROTH Capital downgraded it to a Neutral rating. They previously had a Buy rating on the stock. Analysts offering their rating for REI stock have a consensus rating for the stock as Overweight. Currently, 0 brokerage advisors rate REI as a “sell,”, while 2 advise that investors “Hold.” 0 analysts have rated the stock as underweight. 0 rates the stock as overweight while 1 have offered a “buy” rating.
