Ring Energy (NYSEAMERICAN:REI) Stock Price Down 7.6% – Time to Sell?

Ring Energy, Inc. (NYSEAMERICAN:REI)’s stock price was down 7.6% during trading on Thursday . The stock traded as low as $1.21 and last traded at $1.21. Approximately 4,076,077 shares traded hands during mid-day trading, an increase of 9% from the average daily volume of 3,737,579 shares. The stock had previously closed at $1.31.

Wall Street Analysts Forecast Growth

Separately, Zacks Research raised Ring Energy to a “hold” rating in a research report on Tuesday, January 20th. One equities research analyst has rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $2.50.

Ring Energy Price Performance

The company has a quick ratio of 0.50, a current ratio of 0.55 and a debt-to-equity ratio of 0.51. The firm has a market capitalization of $250.74 million, a price-to-earnings ratio of -17.28 and a beta of 1.00. The company has a fifty day moving average price of $0.99 and a two-hundred day moving average price of $0.98.

Hedge Funds Weigh In On Ring Energy

A number of hedge funds and other institutional investors have recently bought and sold shares of REI. Valeo Financial Advisors LLC acquired a new stake in shares of Ring Energy in the 2nd quarter worth $25,000. Royal Fund Management LLC acquired a new position in shares of Ring Energy during the fourth quarter worth about $26,000. Centiva Capital LP purchased a new position in Ring Energy during the third quarter worth about $26,000. Barry Investment Advisors LLC lifted its position in Ring Energy by 150.0% in the third quarter. Barry Investment Advisors LLC now owns 25,000 shares of the company’s stock valued at $27,000 after purchasing an additional 15,000 shares during the period. Finally, Wealthcare Advisory Partners LLC purchased a new stake in Ring Energy in the 3rd quarter valued at approximately $31,000. 77.14% of the stock is currently owned by hedge funds and other institutional investors.

About Ring Energy

Ring Energy, Inc is an independent oil and natural gas exploration and production company focused on the development, acquisition and operation of upstream assets in the United States. Headquartered in Odessa, Texas, the company concentrates its activities on onshore hydrocarbon plays, where it seeks to optimize production through technical innovation, cost management and disciplined capital allocation. Ring Energy trades on the NYSE American under the ticker symbol REI.

The company’s core operations are centered in the Permian Basin, one of North America’s most prolific oil-producing regions.