Ring Energy Inc. [REI] Investment Appeal on the Rise


Ring Energy Inc.’s filing revealed that its 10% Owner Warburg Pincus (E&P) XII LLC unloaded Company’s shares for reported $25.96 million on Aug 09. In the deal valued at $2.06 per share,12,600,000 shares were sold. As a result of this transaction, Warburg Pincus (E&P) XII LLC now holds 46,994,853 shares worth roughly $ 86.94 million.

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Then, Warburg Pincus & Co US, LLC sold 12,600,000 shares, generating $25,956,000 in total proceeds. Upon selling the shares at $2.06, the 10% Owner now owns 46,994,853 shares.

Before that, STRONGHOLD ENERGY II OPERATING sold 12,600,000 shares. Ring Energy Inc. shares valued at $25,956,000 were divested by the 10% Owner at a price of $2.06 per share. As a result of the transaction, STRONGHOLD ENERGY II OPERATING now holds 46,994,853 shares, worth roughly $86.94 million.

ROTH Capital downgraded its Ring Energy Inc. [REI] rating to a Neutral from a a Buy in a research note published on Friday, August 01, 2022; the price target was increased to $7.50 from $4.90. PT values the company’s stock at a premium of 75.33 to its Friday closing price.

Price Performance Review of REI

On Friday, Ring Energy Inc. [AMEX:REI] saw its stock jump 2.78% to $1.85. On the same session, the stock had its day’s lowest price of $1.79, but rose to a high of $1.87. Over the last five days, the stock has lost -3.14%. Ring Energy Inc. shares have fallen nearly -24.80% since the year began. Nevertheless, the stocks have fallen -42.72% over the past one year. While a 52-week high of $3.46 was reached on 01/23/23, a 52-week low of $1.62 was recorded on 03/16/23. SMA at 50 days reached $1.9858, while 200 days put it at $2.1179. A total of 2.57 million shares were traded, compared to the trading of 1.12 million shares in the previous session.

Levels Of Support And Resistance For REI Stock

The 24-hour chart illustrates a support level at 1.8000, which if violated will result in even more drops to 1.7500. On the upside, there is a resistance level at 1.8850. A further resistance level may holdings at 1.9200. The Relative Strength Index (RSI) on the 14-day chart is 39.22, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -0.0929, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 82.80%. Stochastics %K at 14.06% indicates the stock is a buying.

How much short interest is there in Ring Energy Inc.?

A steep rise in short interest was recorded in Ring Energy Inc. stocks on Aug 14, 2023, dropping by 60000.0 shares to a total of 16.26 million shares. Yahoo Finance data shows the prior-month short interest on Jul 13, 2023 was 16.32 million shares. There was a decline of -0.37%, which implies that there is a negative sentiment for the stock. In spite of short shares comprising just 12.19% of the overall stock float, the days-to-cover ratio (short ratio) fell to 5.76.

According to FactSet, Ring Energy Inc.’s share price will average $3.50 in the next year, based on opinions of analysts polled by the firm. This is up nearly 94.44 percent from its previous closing price of $1.80. Analysts expect Ring Energy Inc. stock to reach the higher price of $3.50, while the lowest price estimate is $3.50. However, 3 analysts have rated REI stock as an Overweight in their predictions for 2023.


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