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A company insider recently bought 50,000 shares of Ring Energy Inc [REI]. Should You Buy?


The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. 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 $0.67 million following the completion of this transaction.

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 $1.15 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 drop of approximately -4.08%. Over the course of the year, Ring Energy Inc shares have jumped approximately 28.77%. Shares of the company reached a 52-week high of $2.1978 on 04/12/24 and a 52-week low of $1.2500 on 02/06/24. A 50-day SMA is recorded $1.8142, while a 200-day SMA reached $1.7404. Nevertheless, trading volume fell to 2.1 million shares from 1.49 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 1.8267, which, if violated, would cause prices to drop to 1.7733. In the upper region, resistance lies at 1.9167. The next price resistance is at 1.9533. RSI (Relative Strength Index) is 43.36 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.0733, which suggests the price will decrease in the coming days. Percent R is at 81.95%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.

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