Ring Energy Inc. (REI) had a good day on the market for Friday November 01 as shares jumped 5.42% to close at $1.75. About 662,092 shares traded hands on 3,098 trades for the day, compared with an average daily volume of n/a shares out of a total float of 67.81 million. After opening the trading day at $1.67, shares of Ring Energy Inc. stayed within a range of $1.76 to $1.66.
With today’s gains, Ring Energy Inc. now has a market cap of $118.67 million. Shares of Ring Energy Inc. have been trading within a range of $8.23 and $1.23 over the last year, and it had a 50-day SMA of $n/a and a 200-day SMA of $n/a.
Ring Energy Inc is an oil and gas exploration and production company based in Midland, Texas. Its activities include the acquisition, exploration, development, and production of oil and natural gas fields. These operations are focused in the Permian, Central, and Delaware Basins in Texas and Kansas, but a vast majority of production comes from Texas. The company’s production is mostly done through the vertical drilling of wells.
Ring Energy Inc. is based out of Midland, TX and has some 42 employees. Its CEO is Kelly Hoffman.
Ring Energy Inc. is also 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.