A company insider recently bought 507,214 shares of Ring Energy Inc. [REI]. Should You Buy?


Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Ring Energy Inc. shares valued at $1,354,261 were purchased by Kruse William R on Aug 01. At $2.67 per share, Kruse William R acquired 507,214 shares. The insider’s holdings grew to 13,446,948 shares worth approximately $27.97 million following the completion of this transaction.

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As published in a research note from ROTH Capital on August 01, 2022, Ring Energy Inc. [REI] has been rated down from a Buy to a Neutral and the price target has been revised to $7.50 from $4.90. This represents a 72.27% premium over Thursday’s closing price. Analysts at ROTH Capital upgraded the stock from ‘”a Neutral”‘ to ‘”a Buy”‘ outlook in a report released in mid October. Earlier on March 18, 2020, Alliance Global Partners downgraded its rating. Their new recommendation was “a Neutral” for REI stock which previously was a “a Buy”.

Analyzing REI Stock Performance

On Thursday, Ring Energy Inc. [AMEX: REI] rose 4.52% to $2.08. The stock’s lowest price that day was $2.02, but it reached a high of $2.11 in the same session. During the last five days, there has been a drop of approximately -8.37%. Over the course of the year, Ring Energy Inc. shares have dropped approximately -15.45%. Shares of the company reached a 52-week high of $2.5400 on 01/23/23 and a 52-week low of $1.9500 on 02/22/23. A 50-day SMA is recorded $2.3100, while a 200-day SMA reached $2.9000. Nevertheless, trading volume fell to 2.37 million shares from 3.71 million shares the previous day.

Support And Resistance Levels for Ring Energy Inc. (REI)

According to the 24-hour chart, there is a support level at 2.0300, which, if violated, would cause prices to drop to 1.9800. In the upper region, resistance lies at 2.1200. The next price resistance is at 2.1600. RSI (Relative Strength Index) is 39.46 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.1500, which suggests the price will decrease in the coming days. Percent R is at 71.11%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.

Is Ring Energy Inc. subject to short interest?

Stocks of Ring Energy Inc. saw a sharp rise in short interest on Jan 30, 2023 jumping by 2.33 million shares to 20.76 million. Data from Yahoo Finance shows that the short interest on Dec 29, 2022 was 18.43 million shares. A jump of 11.22% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 11.55 of the overall float, the days-to-cover ratio (short ratio) jumped to 11.55.

Which companies own the most shares of Ring Energy Inc. (REI)?

According to BlackRock Fund Advisors filings, the company currently owns 5,589,135 shares, which is about 3.21% of the total REI shares outstanding. The investor’s shares have appreciated by 214,668 from its previous 13-F filing of 5374467.0 shares. With the completion of the buy transaction, Cooper Creek Partners Management’s stake is now worth $10,069,941. The Vanguard Group, Inc. acquire a 0.02% interest valued at $9.83 million while Aristotle Capital Boston LLC sold a -77,253 stake. A total of 339,806 shares of Ring Energy Inc. were sold by Two Sigma Investments LP during the quarter, and 234,200 were bought by Two Sigma Advisers LP. In its current portfolio, Geode Capital Management LLC holds 1,654,921 shares valued at $3.91 million.

In terms of Ring Energy Inc. share price expectations, FactSet research, analysts set an average price target of $5.50 in the next 12 months, up nearly 176.38% from the previous closing price of $1.99. Analysts anticipate Ring Energy Inc. stock to reach $8.00 by 2023, with the lowest price target being $3.00. In spite of this, 2 analysts ranked Ring Energy Inc. stock as a Hold at the end of 2023.


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