Ring Energy Inc’s recently made public that its Director CRUM JOHN A acquired Company’s shares for reported $83700.0 on Dec 01 ’23. In the deal valued at $1.67 per share,50,000 shares were bought. As a result of this transaction, CRUM JOHN A now holds 355,094 shares worth roughly $0.7 million.
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Then, McKinney Paul D. bought 50,000 shares, generating $82,000 in total proceeds. Upon buying the shares at $1.64, the CEO and Chairman of the Board now owns 1,318,231 shares.
Before that, Petrelli Anthony Benedict bought 50,000 shares. Ring Energy Inc shares valued at $95,980 were divested by the Director at a price of $1.92 per share. As a result of the transaction, Petrelli Anthony Benedict now holds 611,294 shares, worth roughly $1.2 million.
ROTH Capital downgraded its Ring Energy Inc [REI] rating to a Neutral from a a Buy in a research note published on August 01, 2022; the price target was increased to $7.50 from $4.90. A number of analysts have revised their coverage, including ROTH Capital’s analysts, who increased its forecast for the stock in mid October from “a Neutral” to “a Buy”. Alliance Global Partners revised its rating on March 18, 2020. It rated REI as “a Neutral” which previously was an “a Buy”.
Price Performance Review of REI
On Monday, Ring Energy Inc [AMEX:REI] saw its stock jump 5.91% to $1.97. Over the last five days, the stock has gained 5.91%. Ring Energy Inc shares have risen nearly 34.93% since the year began. Nevertheless, the stocks have risen 8.24% over the past one year. While a 52-week high of $2.43 was reached on 03/25/24, a 52-week low of $1.25 was recorded on 02/06/24. SMA at 50 days reached $1.4684, while 200 days put it at $1.7172. A total of 2.67 million shares were traded, compared to the trading of 1.23 million shares in the previous session.
Levels Of Support And Resistance For REI Stock
The 24-hour chart illustrates a support level at 1.9067, which if violated will result in even more drops to 1.8433. On the upside, there is a resistance level at 2.0067. A further resistance level may holdings at 2.0433. The Relative Strength Index (RSI) on the 14-day chart is 74.77, which indicates overbought technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.1719, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bullish at 1.69%. Stochastics %K at 93.88% indicates the stock is a selling.
How much short interest is there in Ring Energy Inc?
A steep rise in short interest was recorded in Ring Energy Inc stocks on Feb 29, 2024, dropping by -1.15 million shares to a total of 13.18 million shares. Yahoo Finance data shows the prior-month short interest on Jan 31, 2024 was 14.33 million shares. There was a decline of -8.73%, which implies that there is a negative sentiment for the stock. In spite of short shares comprising just 9.78% of the overall stock float, the days-to-cover ratio (short ratio) fell to 8.84.
