The biggest gainers of the session on the Wall Street include Ring Energy, Inc. (NYSE:REI), which rose 0.21 points or 7.88% to trade at $2.83 as last check. The stock closed last session at $2.62 and sets an active trading volume day with a reported 170048 contracts so far this session. REI shares had a relatively better volume day versus average trading capacity of 1.13 million shares, but with a 53.93 million float and a -14.1% run over a week, it’s definitely worth keeping an eye on. The one year price forecast for REI stock indicates that the average analyst price target is $3.93 per share. This means the stock has a potential increase of 38.87% from where the REI share price has been trading recently.
During the recent trading session for Ring Energy, Inc. (NYSE:REI), the company witnessed their stock drop by $-0.13 over a week and surge $0.4 from the price 20 days ago. When compared to their established 52-week high of $6.59, the high they recorded in their recent session happens to be higher. Their established 52-week high was attained by the company on 05/03/19. The recent low of $1.23 stood for a -57.14% since 08/30/19, a data which is good for most investors who are looking to take advantage of the stock’s recent rise. A beta of 1.77 is also allocated to the stock. Since the beta is greater than one, it implies that the stock is more volatile than the market, a data that traders are keeping close attention to.
Looking at the current readings for Ring Energy, Inc., the two-week RSI stands at 56.3. This figure suggests that REI stock, for now, is neutral, meaning that the shares are stable in terms of price movement. The stochastic readings, on the other hand, based on the current REI readings is similarly very revealing as it has a stochastic reading of 32.95% at this stage. This figure means that REI share price today is being neutral.
Technical chart claims that Ring Energy, Inc. (REI) would settle between $2.7/share to $2.79/share level. However, if the stock price goes below the $2.56 mark, then the market for Ring Energy, Inc. becomes much weaker. If that happens, the stock price might even plunge as low as $2.51 for its downside target. The stock is currently in the red zone of MACD, with the indicator reading -0.19. Traders are always alerted for the move of a stock above or below the zero line due to the fact that the reading is an indicator of the position of the short-term average relative to the long-term average. If the MACD is above the zero line, then the short-term average relative is above that of the long-term average, thus implying an upward momentum. Vice versa is the case if the MACD is below the zero line.
Analysts at Ladenburg Thalmann lowered their recommendation on shares of REI from Buy to Neutral in their opinion released on August 26. Imperial Capital analysts again handed out a Outperform recommendation to Ring Energy, Inc. (NYSE:REI) stock but they lifted target price for the shares in a flash note issued to investors on August 22. The target price has been raised from $6 to $4. Analysts at Johnson Rice, made their first call for the equity with a Buy recommendation, according to a research note that dated back to May 28.
REI equity has an average rating of 2.16, with the figure leaning towards a bullish end. 5 analysts who tracked the company were contacted by Reuters. Amongst them, 2 rated the stock as a hold while the remaining 3 were split even though not equally. Some analysts rate the stock as a buy or a strong buy while no rated it as a sell. 3 analysts rated Ring Energy, Inc. (NYSE:REI) as a buy or a strong buy while not a single analyst advised that investors should desist from purchasing the stock or sell them if they already own the company’s stock.
Moving on, REI stock price is currently trading at 4.25X forward 12-month Consensus EPS estimates, and its P/E ratio is 6.9 while for the average stock in the same group, the multiple is 15.9. Ring Energy, Inc. current P/B ratio of 0.3 means it is trading at a discount against its industry’s 1.3.
Ring Energy, Inc. (REI)’s current-quarter revenues are projected to climb by nearly 85.5% to hit $51.12 million, based on current consensus estimate. The firm’s full-year revenues are expected to expand by over 61.9% from $120060 to a noteworthy $194440. At the other end of the current quarter income statement, Ring Energy, Inc. is expected to see its adjusted earnings surge by roughly 1200% to hit $0.13 per share. For the fiscal year, REI’s earnings are projected to climb by roughly 87.5% to hit $0.6 per share.