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As of close of business last night, RingCentral Inc.’s stock clocked out at $31.03, down -0.89% from its previous closing price of $31.31. In other words, the price has decreased by -$0.89 from its previous closing price. On the day, 1.35 million shares were traded. RNG stock price reached its highest trading level at $31.39 during the session, while it also had its lowest trading level at $30.84.
Ratios:
To gain a deeper understanding of RNG’s stock, we examine its different ratios. It provided that stocks Price–to–Cash (P/C) ratio for the trailing twelve months (TTM) is standing at 14.29 whereas its Price-to-Free Cash Flow (P/FCF) for the term is 8.21. For the most recent quarter (mrq), Quick Ratio is recorded 0.84 and its Current Ratio is at 0.84.
On December 20, 2023, Wells Fargo Downgraded its rating to Equal Weight which previously was Overweight but kept the price unchanged to $36.
Jefferies Downgraded its Buy to Hold on December 12, 2023, whereas the target price for the stock was revised from $40 to $35.
Insider Transactions:
Investing in insider trades can also provide an investor with insight into how management views future stock prices. A recent insider transaction in this stock occurred on Oct 01 ’24 when Agarwal Vaibhav sold 1,985 shares for $31.40 per share. The transaction valued at 62,331 led to the insider holds 135,560 shares of the business.
VAIBHAV AGARWAL bought 1,985 shares of RNG for $62,330 on Oct 01 ’24. On Aug 26 ’24, another insider, THEIS ROBERT I, who serves as the Director of the company, sold 8,448 shares for $34.00 each. As a result, the insider received 287,232 and left with 31,604 shares of the company.
Valuation Measures:
Investors should consider key stock statistics when deciding whether to invest or divest. In the wake of the recent closing price, RNG now has a Market Capitalization of 2874882816 and an Enterprise Value of 4434745856. For the stock, the TTM Price-to-Sale (P/S) ratio is 1.24. Its current Enterprise Value per Revenue stands at 1.923 whereas that against EBITDA is 33.426.
Stock Price History:
Over the past 52 weeks, RNG has reached a high of $38.35, while it has fallen to a 52-week low of $25.08. The 50-Day Moving Average of the stock is -3.09%, while the 200-Day Moving Average is calculated to be -4.62%.
Shares Statistics:
It appears that RNG traded 1.27M shares on average per day over the past three months and 1437670 shares per day over the past ten days. A total of 83.54M shares are outstanding, with a floating share count of 80.05M. Insiders hold about 12.82% of the company’s shares, while institutions hold 89.49% stake in the company. Shares short for RNG as of 1726185600 were 5827418 with a Short Ratio of 4.60, compared to 1723680000 on 5427106. Therefore, it implies a Short% of Shares Outstanding of 5827418 and a Short% of Float of 9.8000005.
