HighPeak Energy (NASDAQ:HPK) Stock Falls 5% – What’s Next?

Shares of HighPeak Energy, Inc. (NASDAQ:HPK) dropped 5% during trading on Monday. The stock traded as low as $6.77 and last traded at $6.7820. 294,341 shares were traded during mid-day trading, a decline of 62% from the average session volume of 769,827 shares. The stock had previously closed at $7.14.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. Wall Street Zen upgraded shares of HighPeak Energy from a “sell” rating to a “hold” rating in a research note on Sunday, August 16th. Weiss Ratings raised HighPeak Energy from a “sell (d)” rating to a “sell (d+)” rating in a research report on Monday, November 2nd. One analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, HighPeak Energy presently has a consensus rating of “Reduce”.

HighPeak Energy Stock Down 5.8%

The firm’s fifty day simple moving average is $8.89 and its 200 day simple moving average is $7.14. The company has a current ratio of 0.87, a quick ratio of 0.85 and a debt-to-equity ratio of 0.69. The company has a market cap of $850.90 million, a price-to-earnings ratio of -8.48 and a beta of 0.05.

HighPeak Energy (NASDAQ:HPK) last announced its quarterly earnings data on Monday, August 10th. The company reported $0.59 earnings per share for the quarter, beating analysts’ consensus estimates of $0.02 by $0.57. The business had revenue of $272.42 million for the quarter, compared to analyst estimates of $240.03 million. HighPeak Energy had a negative net margin of 10.52% and a negative return on equity of 1.44%. The company’s revenue was up 25.8% on a year-over-year basis. During the same period last year, the business earned $0.10 EPS. Sell-side analysts predict that HighPeak Energy, Inc. will post 0.15 earnings per share for the current year.

Institutional Trading of HighPeak Energy

Hedge funds and other institutional investors have recently bought and sold shares of the business. BlackRock Inc. purchased a new stake in HighPeak Energy during the second quarter worth approximately $13,154,000. Bank of New York Mellon Corp acquired a new position in HighPeak Energy in the second quarter valued at approximately $1,188,000. Texas Capital Bank Wealth Management Services Inc purchased a new position in HighPeak Energy in the second quarter valued at approximately $5,426,000. Counterpoint Mutual Funds LLC purchased a new position in HighPeak Energy in the third quarter valued at approximately $709,000. Finally, PDT Partners LLC purchased a new position in HighPeak Energy in the second quarter valued at approximately $3,831,000. 24.13% of the stock is currently owned by institutional investors and hedge funds.

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.