Ring Energy (NYSE:REI) was the target of a large growth in short interest during the month of October. As of October 31st, there was short interest totalling 3,706,311 shares, a growth of 14.8% from the October 14th total of 3,228,166 shares. Based on an average daily trading volume, of 139,676 shares, the days-to-cover ratio is currently 26.5 days. Currently, 10.6% of the shares of the stock are short sold.

Several research analysts have recently issued reports on the company. Zacks Investment Research downgraded Ring Energy from a “buy” rating to a “hold” rating in a research note on Wednesday, October 19th. Imperial Capital assumed coverage on Ring Energy in a research note on Tuesday, September 27th. They set an “outperform” rating and a $13.50 price target for the company. Robert W. Baird reissued a “neutral” rating and issued a $24.00 target price on shares of Ring Energy in a research note on Monday, August 29th. Finally, Rodman & Renshaw assumed coverage on shares of Ring Energy in a research note on Monday, August 29th. They issued a “buy” rating and a $15.00 target price for the company. Four research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $12.56.

Several hedge funds have recently made changes to their positions in the company. FMR LLC raised its stake in shares of Ring Energy by 264.2% in the second quarter. FMR LLC now owns 1,624,548 shares of the company’s stock valued at $14,329,000 after buying an additional 1,178,548 shares during the last quarter. Cannell Capital LLC raised its stake in shares of Ring Energy by 60.8% in the second quarter. Cannell Capital LLC now owns 1,673,844 shares of the company’s stock valued at $14,763,000 after buying an additional 632,855 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of Ring Energy by 35.9% in the second quarter. Vanguard Group Inc. now owns 1,637,131 shares of the company’s stock valued at $14,439,000 after buying an additional 432,788 shares during the last quarter. GLG Partners LP raised its stake in shares of Ring Energy by 69.2% in the second quarter. GLG Partners LP now owns 1,057,764 shares of the company’s stock valued at $9,330,000 after buying an additional 432,779 shares during the last quarter. Finally, BlackRock Institutional Trust Company N.A. raised its stake in shares of Ring Energy by 142.1% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 727,153 shares of the company’s stock valued at $6,413,000 after buying an additional 426,794 shares during the last quarter.

Shares of Ring Energy (NYSE:REI) opened at 11.66 on Friday. The firm has a 50-day moving average price of $10.64 and a 200 day moving average price of $9.21. Ring Energy has a 12-month low of $4.00 and a 12-month high of $12.17. The stock’s market cap is $488.75 million.

Ring Energy (NYSE:REI) last announced its quarterly earnings data on Tuesday, November 8th. The company reported $0.01 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.01) by $0.02. The firm had revenue of $7.82 million for the quarter, compared to analyst estimates of $7.99 million. Equities research analysts predict that Ring Energy will post ($0.04) EPS for the current fiscal year.

5 Day Chart for NYSE:REI

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