Ring Energy Inc. (REI) had a rough trading day for Wednesday October 10 as shares tumbled 9.05%, or a loss of $-0.77 per share, to close at $7.74. After opening the day at $8.54, shares of Ring Energy Inc. traded as high as $8.54 and as low as $7.61. Volume was 1.16 million shares over 8,128 trades, against an average daily volume of 733,020 shares and a total float of 60.39 million.
As a result of the decline, Ring Energy Inc. now has a market cap of $467.4 million.
The stock has a P/E Ratio of 56.7.
In the last year, shares of Ring Energy Inc. have traded between a range of $17.35 and $7.80, and its 50-day SMA is currently $11.06 and 200-day SMA is $13.53.
Ring Energy Inc is a Midland-based exploration and production company that is engaged in oil and natural gas acquisition, exploration, development and production activities. Its exploration and production interests are in Texas.
Ring Energy Inc. is based out of Midland, TX and has some 37 employees. Its CEO is Kelly Hoffman.
Ring Energy Inc. is a component of the Russell 2000. The Russell 2000 is one of the leading indices tracking small-cap companies in the United States. It’s maintained by Russell Investments, an industry leader in creating and maintaining indices, and consists of the smallest 2000 stocks from the broader Russell 3000 index.
Russell’s indices differ from traditional indices like the Dow Jones Industrial Average (DJIA) or S&P 500, whose members are selected by committee, because they base membership entirely on an objective, rules based methodology. The 3,000 largest companies by market cap make up the Russell 3000, with the 2,000 smaller companies making up the Russell 2000. It’s a simple approach that gives a broad, unbiased look at the small-cap market as a whole.