HighPeak Energy (NASDAQ:HPK) Stock Jumps 4.1% – Here’s Why

HighPeak Energy, Inc. (NASDAQ:HPK)’s share price rose 4.1% during trading on Tuesday. The stock traded as high as $10.06 and last traded at $10.1120. Approximately 126,191 shares were traded during trading, a decline of 84% from the average daily volume of 774,140 shares. The stock had previously closed at $9.71.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on HPK. Weiss Ratings reaffirmed a “sell (d)” rating on shares of HighPeak Energy in a research note on Monday, August 31st. Wall Street Zen raised shares of HighPeak Energy from a “sell” rating to a “hold” rating in a research report on Sunday, August 16th. One analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Reduce”.

HighPeak Energy Stock Performance

The business has a fifty day simple moving average of $8.02 and a two-hundred day simple moving average of $7.35. The company has a debt-to-equity ratio of 0.69, a current ratio of 0.87 and a quick ratio of 0.85. The company has a market cap of $1.33 billion, a PE ratio of -13.27 and a beta of 0.36.

HighPeak Energy (NASDAQ:HPK) last announced its earnings results on Monday, August 10th. The company reported $0.59 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.02 by $0.57. HighPeak Energy had a negative return on equity of 1.44% and a negative net margin of 10.52%. The business had revenue of $272.42 million for the quarter, compared to analysts’ expectations of $240.03 million. During the same quarter last year, the firm earned $0.10 EPS. The business’s revenue for the quarter was up 25.8% on a year-over-year basis. Research analysts anticipate that HighPeak Energy, Inc. will post -0.08 earnings per share for the current year.

Institutional Investors Weigh In On HighPeak Energy

A number of hedge funds have recently made changes to their positions in the stock. Caitong International Asset Management Co. Ltd bought a new stake in HighPeak Energy during the fourth quarter valued at about $29,000. Allworth Financial LP purchased a new position in HighPeak Energy in the second quarter valued at about $37,000. Integrated Wealth Concepts LLC purchased a new position in HighPeak Energy in the second quarter valued at about $45,000. Kestra Advisory Services LLC bought a new position in HighPeak Energy in the first quarter worth about $70,000. Finally, Sequoia Financial Advisors LLC bought a new position in HighPeak Energy in the second quarter worth about $73,000. 24.13% of the stock is currently owned by hedge funds and other institutional investors.

About HighPeak Energy

HighPeak Energy, Inc (NASDAQ: HPK) is an independent oil and natural gas company focused on the acquisition, development and production of unconventional oil and gas reserves in the Midland Basin of the Permian Basin in West Texas.

The company’s operations are concentrated primarily in Howard and Borden counties, where it develops horizontal wells and produces crude oil, natural gas liquids and natural gas. HighPeak Energy’s activities include leasing acreage, drilling and completing wells, operating production facilities, and managing related gathering and infrastructure arrangements.

HighPeak Energy was established through a business combination involving Pure Acquisition Corp.