Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Ring Energy Inc shares valued at $7,128,000 were sold by Warburg Pincus & Co US, LLC on Oct 08 ’24. At $1.62 per share, Warburg Pincus & Co US, LLC sold 4,400,000 shares. The insider’s holdings dropped to 35,520,643 shares worth approximately $44.4 million following the completion of this transaction.
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Also, Warburg Pincus (E&P) XII LLC sold 4,400,000 shares, netting a total of over 7,128,000 in proceeds. Following the sale of shares at $1.62 each, the insider now holds 35,520,643 shares.
Before that, Warburg Pincus LLC (1) had added 4,400,000 shares to its account. In a trade valued at $7,656,000, the Affiliate bought Ring Energy Inc shares for $1.74 each.
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 -11.35%. Over the course of the year, Ring Energy Inc shares have dropped approximately -14.38%. 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 12/19/24. A 50-day SMA is recorded $1.5046, while a 200-day SMA reached $1.7308. Nevertheless, trading volume fell to 1.93 million shares from 2.25 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 1.2267, which, if violated, would cause prices to drop to 1.2033. In the upper region, resistance lies at 1.2967. The next price resistance is at 1.3433. RSI (Relative Strength Index) is 26.82 on the 14-day chart, showing oversold technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.1171, which suggests the price will decrease in the coming days. Percent R is at 100.00%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
