Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Ring Energy Inc shares valued at $83,700 were purchased by CRUM JOHN A on Dec 01 ’23. At $1.67 per share, CRUM JOHN A acquired 50,000 shares. The insider’s holdings grew to 355,094 shares worth approximately $0.68 million following the completion of this transaction.
3 Tiny Stocks Primed to Explode
The world's greatest investor — Warren Buffett — has a simple formula for making big money in the markets. He buys up valuable assets when they are very cheap. For stock market investors that means buying up cheap small cap stocks like these with huge upside potential.
We've set up an alert service to help smart investors take full advantage of the small cap stocks primed for big returns.
Click here for full details and to join for free
Sponsored
Also, McKinney Paul D. purchased 50,000 shares, netting a total of over 82,000 in proceeds. Following the buying of shares at $1.64 each, the insider now holds 1,318,231 shares.
Before that, Petrelli Anthony Benedict had added 50,000 shares to its account. In a trade valued at $95,980, the Director bought Ring Energy Inc shares for $1.92 each. Upon closing the transaction, the insider’s holdings increased to 50,000 shares, worth approximately $1.17 million.
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. 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
During the last five days, there has been a surge of approximately 6.70%. Over the course of the year, Ring Energy Inc shares have jumped approximately 30.82%. Shares of the company reached a 52-week high of $1.9300 on 03/20/24 and a 52-week low of $1.2500 on 02/06/24. A 50-day SMA is recorded $1.4476, while a 200-day SMA reached $1.7170. Nevertheless, trading volume fell to 1.23 million shares from 1.71 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 1.8867, which, if violated, would cause prices to drop to 1.8633. In the upper region, resistance lies at 1.9267. The next price resistance is at 1.9433. RSI (Relative Strength Index) is 76.04 on the 14-day chart, showing overbought technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.2067, which suggests the price will decrease in the coming days. Percent R is at 3.70%, indicating bullish price movement. Stochastics %K at selling indicates that the stock is to be held.
Is Ring Energy Inc subject to short interest?
Stocks of Ring Energy Inc saw a sharp steep in short interest on Feb 29, 2024 dropping by -1.15 million shares to 13.18 million. Data from Yahoo Finance shows that the short interest on Jan 31, 2024 was 14.33 million shares. A decline of -8.73% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 8.84 of the overall float, the days-to-cover ratio (short ratio) decline to 8.84.
