Ring Energy, Inc. (NYSEAMERICAN:REI – Get Rating) was the target of a large decline in short interest during the month of April. As of April 15th, there was short interest totalling 13,260,000 shares, a decline of 34.0% from the March 31st total of 20,090,000 shares. Based on an average daily volume of 3,130,000 shares, the short-interest ratio is currently 4.2 days. Approximately 19.1% of the company’s stock are sold short.
NYSEAMERICAN REI opened at $4.47 on Friday. The company has a current ratio of 0.39, a quick ratio of 0.39 and a debt-to-equity ratio of 0.97. The firm has a market capitalization of $447.86 million, a price-to-earnings ratio of -148.95 and a beta of 2.13. Ring Energy has a one year low of $1.81 and a one year high of $4.85. The company has a fifty day simple moving average of $3.33.
Separately, Zacks Investment Research raised shares of Ring Energy from a “hold” rating to a “strong-buy” rating and set a $5.00 price objective for the company in a research report on Saturday, April 23rd.
Ring Energy Company Profile (Get Rating)
Ring Energy, Inc, an exploration and production company, engages in the acquisition, exploration, development, and production of oil and natural gas in Texas and New Mexico. As of December 31, 2021, the company's proved reserves consisted of approximately 77.8 million barrel of oil equivalent. It also had interests in 18,882 net developed acres and 1,406 net undeveloped acres in Andrews and Gaines counties, Texas; 18,437 net developed acres in Culberson and Reeves counties, Texas; and 13,662 net developed acres and 11,993 net undeveloped acres in Yoakum, Runnels, and Coke Counties, Texas and Lea County, New Mexico.
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