HighPeak Energy (NASDAQ:HPK) Stock Price Down 8.4% – Time to Sell?

Shares of HighPeak Energy, Inc. (NASDAQ:HPK) were down 8.4% during mid-day trading on Monday. The stock traded as low as $9.19 and last traded at $9.33. Approximately 159,661 shares changed hands during trading, a decline of 79% from the average daily volume of 770,810 shares. The stock had previously closed at $10.19.

Analyst Ratings Changes

A number of equities research analysts have commented on HPK shares. Wall Street Zen raised HighPeak Energy from a “sell” rating to a “hold” rating in a report on Sunday, August 16th. Weiss Ratings reiterated a “sell (d)” rating on shares of HighPeak Energy in a research report on Monday, August 31st. One equities research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Reduce”.

HighPeak Energy Stock Performance

The stock’s 50-day moving average price is $8.91 and its 200-day moving average price is $7.06. The company has a market capitalization of $1.13 billion, a price-to-earnings ratio of -11.33 and a beta of 0.04. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.85 and a current ratio of 0.87.

HighPeak Energy (NASDAQ:HPK) last released its earnings results on Monday, August 10th. The company reported $0.59 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 firm had revenue of $272.42 million during the quarter, compared to analyst estimates of $240.03 million. During the same period in the prior year, the firm posted $0.10 earnings per share. The business’s quarterly revenue was up 25.8% compared to the same quarter last year. As a group, equities research analysts expect that HighPeak Energy, Inc. will post 0.15 earnings per share for the current year.

Institutional Investors Weigh In On HighPeak Energy

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Allworth Financial LP acquired a new position in HighPeak Energy during the second quarter valued at $37,000. Integrated Wealth Concepts LLC acquired a new stake in shares of HighPeak Energy during the 2nd quarter worth approximately $45,000. Kestra Advisory Services LLC acquired a new position in HighPeak Energy in the first quarter valued at about $70,000. Sequoia Financial Advisors LLC acquired a new position in shares of HighPeak Energy during the 2nd quarter worth about $73,000. Finally, Vise Technologies Inc. bought a new position in HighPeak Energy during the third quarter worth $101,000. Institutional investors own 24.13% of the company’s stock.

About HighPeak Energy

HighPeak Energy, Inc (NASDAQ: HPK) is an independent energy company engaged in the acquisition, development and production of oil, natural gas and natural gas liquids. The company focuses primarily on unconventional reserves in the Permian Basin, one of the leading oil-producing regions in the United States.

HighPeak Energy’s operations are concentrated in the Midland Basin of West Texas, particularly in Howard and Borden counties. Its activities include drilling and completing horizontal wells, developing oil and gas acreage, and producing hydrocarbons for sale into regional energy markets.

The company became a publicly traded entity in 2020 through a business combination involving Pure Acquisition Corp.