HighPeak Energy (NASDAQ:HPK) Raised to “Hold” at Wall Street Zen

HighPeak Energy (NASDAQ:HPK) was upgraded by equities research analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Saturday.

Several other research firms have also recently commented on HPK. Roth Capital started coverage on HighPeak Energy in a research note on Monday, October 13th. They issued a “buy” rating and a $12.00 price target on the stock. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of HighPeak Energy in a research report on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $11.67.

HighPeak Energy Trading Down 2.5%

NASDAQ HPK opened at $6.72 on Friday. The company’s fifty day simple moving average is $7.29 and its 200-day simple moving average is $8.80. HighPeak Energy has a 52 week low of $6.60 and a 52 week high of $15.72. The company has a current ratio of 0.87, a quick ratio of 0.82 and a debt-to-equity ratio of 0.62. The stock has a market cap of $847.59 million, a P/E ratio of 7.81 and a beta of 1.21.

HighPeak Energy (NASDAQ:HPK) last released its quarterly earnings results on Monday, August 11th. The company reported $0.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.11 by ($0.01). The firm had revenue of $200.40 million for the quarter, compared to analysts’ expectations of $210.87 million. HighPeak Energy had a return on equity of 7.10% and a net margin of 12.59%.The business’s quarterly revenue was down 27.2% on a year-over-year basis. During the same period last year, the firm earned $0.28 EPS. Equities research analysts predict that HighPeak Energy will post 0.78 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Raymond James Financial Inc. bought a new position in HighPeak Energy during the second quarter worth $49,000. Strs Ohio bought a new stake in HighPeak Energy during the first quarter valued at $60,000. Arrowstreet Capital Limited Partnership acquired a new stake in shares of HighPeak Energy during the second quarter worth $109,000. Exchange Traded Concepts LLC lifted its position in shares of HighPeak Energy by 1,262.5% in the 1st quarter. Exchange Traded Concepts LLC now owns 9,238 shares of the company’s stock worth $117,000 after buying an additional 8,560 shares during the last quarter. Finally, OMERS ADMINISTRATION Corp bought a new position in shares of HighPeak Energy in the 1st quarter worth about $134,000. Institutional investors and hedge funds own 24.13% of the company’s stock.

About HighPeak Energy

HighPeak Energy, Inc, an independent oil and natural gas company, engages in the exploration, development, and production of crude oil, natural gas, and natural gas liquids reserves in the Permian Basin in West Texas and Eastern New Mexico. The company was incorporated in 2019 and is headquartered in Fort Worth, Texas.