Ring Energy Inc’s recently made public that its 10% Owner Warburg Pincus & Co US, LLC unloaded Company’s shares for reported $7.13 million on Oct 08 ’24. In the deal valued at $1.62 per share,4,400,000 shares were sold. As a result of this transaction, Warburg Pincus & Co US, LLC now holds 35,520,643 shares worth roughly $47.24 million.
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Then, Warburg Pincus (E&P) XII LLC sold 4,400,000 shares, generating $7,128,000 in total proceeds. Upon selling the shares at $1.62, the 10% Owner now owns 35,520,643 shares.
Before that, Warburg Pincus LLC (1) bought 4,400,000 shares. Ring Energy Inc shares valued at $7,656,000 were divested by the Affiliate at a price of $1.74 per share.
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 fall -4.32% to $1.33. Over the last five days, the stock has lost -5.67%. Ring Energy Inc shares have fallen nearly -8.90% since the year began. Nevertheless, the stocks have fallen -14.74% over the past one year. While a 52-week high of $2.20 was reached on 04/12/24, a 52-week low of $1.25 was recorded on 02/06/24. SMA at 50 days reached $1.5282, while 200 days put it at $1.7328.
Levels Of Support And Resistance For REI Stock
The 24-hour chart illustrates a support level at 1.3000, which if violated will result in even more drops to 1.2700. On the upside, there is a resistance level at 1.3800. A further resistance level may holdings at 1.4300. The Relative Strength Index (RSI) on the 14-day chart is 32.38, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -0.0690, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 95.92%. Stochastics %K at 10.51% 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 2024-11-29, dropping by -2.44 million shares to a total of 12.54 million shares. Yahoo Finance data shows the prior-month short interest on 2024-10-31 was 14.98 million shares. There was a decline of -19.43%, which implies that there is a negative sentiment for the stock.
