HighPeak Energy (NASDAQ:HPK) Shares Down 6.1% – Here’s Why

HighPeak Energy, Inc. (NASDAQ:HPK)’s stock price traded down 6.1% on Thursday . The stock traded as low as $7.03 and last traded at $7.09. 260,899 shares traded hands during trading, a decline of 73% from the average session volume of 952,473 shares. The stock had previously closed at $7.55.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the company. Wall Street Zen upgraded HighPeak Energy from a “sell” rating to a “hold” rating in a report on Sunday. Zacks Research raised HighPeak Energy from a “strong sell” rating to a “hold” rating in a research note on Monday, May 25th. Finally, Weiss Ratings reissued a “sell (d)” rating on shares of HighPeak Energy in a research note on Wednesday, June 3rd. One investment analyst has rated the stock with a Strong Buy rating, one has given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $12.00.

HighPeak Energy Price Performance

The firm has a market capitalization of $902.21 million, a PE ratio of -6.00 and a beta of 0.35. The business has a 50-day moving average of $6.91 and a 200 day moving average of $5.85. The company has a current ratio of 0.67, a quick ratio of 0.66 and a debt-to-equity ratio of 0.75.

HighPeak Energy (NASDAQ:HPK) last released its quarterly earnings results on Wednesday, May 6th. The company reported ($0.02) EPS for the quarter, meeting analysts’ consensus estimates of ($0.02). The business had revenue of $215.89 million during the quarter, compared to analyst estimates of $210.14 million. HighPeak Energy had a negative return on equity of 0.73% and a negative net margin of 18.78%.HighPeak Energy’s quarterly revenue was down 20.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.31 EPS. As a group, research analysts anticipate that HighPeak Energy, Inc. will post -0.14 EPS for the current fiscal year.

Institutional Investors Weigh In On HighPeak Energy

A number of institutional investors and hedge funds have recently bought and sold shares of HPK. Texas Capital Bank Wealth Management Services Inc purchased a new stake in HighPeak Energy in the 4th quarter valued at $2,257,000. Renaissance Technologies LLC purchased a new stake in HighPeak Energy in the 4th quarter valued at $576,000. Bank of America Corp DE raised its position in HighPeak Energy by 831.1% in the 3rd quarter. Bank of America Corp DE now owns 108,047 shares of the company’s stock valued at $764,000 after buying an additional 96,443 shares during the last quarter. Vanguard Group Inc. grew its stake in HighPeak Energy by 3.7% in the 3rd quarter. Vanguard Group Inc. now owns 2,666,153 shares of the company’s stock valued at $18,850,000 after purchasing an additional 94,834 shares during the period. Finally, Goldman Sachs Group Inc. grew its stake in HighPeak Energy by 678.1% in the 4th quarter. Goldman Sachs Group Inc. now owns 82,047 shares of the company’s stock valued at $389,000 after purchasing an additional 71,503 shares during the period. 24.13% of the stock is owned by hedge funds and other institutional investors.

HighPeak Energy Company Profile

HighPeak Energy, Inc (NASDAQ: HPK) is a Delaware?incorporated independent oil and natural gas exploration and production company. The firm focuses on the acquisition, development and exploitation of onshore petroleum assets in the continental United States. Its operations encompass the full upstream value chain, including exploration, drilling, completion and production activities aimed at maximizing hydrocarbon recovery and operational efficiency.

The company’s primary business activities include identifying and acquiring conventional and unconventional oil and gas properties, applying advanced drilling and completion technologies, and managing midstream logistics to optimize product flow.