In the past week, RNG stock has gone down by -5.45%, with a monthly gain of 3.84% and a quarterly surge of 2.74%. The volatility ratio for the week is 3.87%, and the volatility levels for the last 30 days are 3.83% for RingCentral Inc The simple moving average for the past 20 days is -3.58% for RNG’s stock, with a 6.41% simple moving average for the past 200 days.
Is It Worth Investing in RingCentral Inc (NYSE: RNG) Right Now?
Company’s 36-month beta value is 0.98.Analysts have differing opinions on the stock, with 7 analysts rating it as a “buy,” 7 as “overweight,” 10 as “hold,” and 0 as “sell.”
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The public float for RNG is 78.74M, and currently, short sellers hold a 6.53% ratio of that floaft. The average trading volume of RNG on November 21, 2024 was 1.33M shares.
RNG) stock’s latest price update
RingCentral Inc (NYSE: RNG)’s stock price has dropped by -0.87 in relation to previous closing price of 35.04. Nevertheless, the company has seen a loss of -5.45% in its stock price over the last five trading days. businesswire.com reported 2024-11-20 that CANONSBURG, Pa.–(BUSINESS WIRE)–Vision RNG LLC has signed an RNG agreement with L.P. Gill, Inc, for a Nebraska project converting landfill gas into RNG for sustainable uses.
Analysts’ Opinion of RNG
Many brokerage firms have already submitted their reports for RNG stocks, with Rosenblatt repeating the rating for RNG by listing it as a “Buy.” The predicted price for RNG in the upcoming period, according to Rosenblatt is $45 based on the research report published on August 02, 2024 of the current year 2024.
Wells Fargo, on the other hand, stated in their research note that they expect to see RNG reach a price target of $36. The rating they have provided for RNG stocks is “Equal Weight” according to the report published on December 20th, 2023.
Jefferies gave a rating of “Hold” to RNG, setting the target price at $35 in the report published on December 12th of the previous year.
RNG Trading at 4.25% from the 50-Day Moving Average
After a stumble in the market that brought RNG to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -15.24% of loss for the given period.
Volatility was left at 3.83%, however, over the last 30 days, the volatility rate increased by 3.87%, as shares surge +0.76% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +21.57% upper at present.
During the last 5 trading sessions, RNG fell by -6.26%, which changed the moving average for the period of 200-days by +4.62% in comparison to the 20-day moving average, which settled at $36.01. In addition, RingCentral Inc saw 2.32% in overturn over a single year, with a tendency to cut further gains.
Insider Trading
Reports are indicating that there were more than several insider trading activities at RNG starting from Agarwal Vaibhav, who sale 2,178 shares at the price of $35.27 back on Nov 18 ’24. After this action, Agarwal Vaibhav now owns 135,560 shares of RingCentral Inc, valued at $76,822 using the latest closing price.
AZIZ MEGJI, the Officer of RingCentral Inc, proposed sale 1,046 shares at $35.78 during a trade that took place back on Nov 18 ’24, which means that AZIZ MEGJI is holding shares at $37,426 based on the most recent closing price.
Stock Fundamentals for RNG
Current profitability levels for the company are sitting at:
- -0.02 for the present operating margin
- 0.7 for the gross margin
The net margin for RingCentral Inc stands at -0.04. The total capital return value is set at -0.05.
Based on RingCentral Inc (RNG), the company’s capital structure generated 1.29 points at debt to capital in total, while cash flow to debt ratio is standing at 0.31. The debt to equity ratio resting at -4.43. The interest coverage ratio of the stock is -0.8.
Currently, EBITDA for the company is 133.56 million with net debt to EBITDA at 6.44. When we switch over and look at the enterprise to sales, we see a ratio of 1.91. The receivables turnover for the company is 5.96for trailing twelve months and the total asset turnover is 1.3. The liquidity ratio also appears to be rather interesting for investors as it stands at 0.88.
Conclusion
In a nutshell, RingCentral Inc (RNG) has experienced a better performance in recent times. The stock has received mixed “buy” and “hold” ratings from analysts. It’s important to note that the stock is currently trading at a significant distance from its 50-day moving average and its 52-week high.
