HighPeak Energy (NASDAQ:HPK) Trading Up 5.9% – What’s Next?

HighPeak Energy, Inc. (NASDAQ:HPK) shares were up 5.9% on Wednesday . The company traded as high as $8.39 and last traded at $8.39. Approximately 275,642 shares traded hands during trading, a decline of 72% from the average daily volume of 972,487 shares. The stock had previously closed at $7.92.

Analysts Set New Price Targets

HPK has been the topic of a number of analyst reports. Wall Street Zen raised HighPeak Energy from a “sell” rating to a “hold” rating in a research note on Saturday, May 9th. Zacks Research raised HighPeak Energy from a “strong sell” rating to a “hold” rating in a research note on Monday, May 25th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $12.00.

HighPeak Energy Price Performance

The company’s 50 day simple moving average is $6.68 and its 200 day simple moving average is $5.70. The company has a current ratio of 0.67, a quick ratio of 0.66 and a debt-to-equity ratio of 0.75. The stock has a market capitalization of $1.05 billion, a PE ratio of -6.97 and a beta of 0.35.

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

Hedge Funds Weigh In On HighPeak Energy

Several institutional investors have recently added to or reduced their stakes in HPK. Vanguard Group Inc. boosted 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 worth $18,850,000 after buying an additional 94,834 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in HighPeak Energy by 6.9% in the 1st quarter. Bank of New York Mellon Corp now owns 868,683 shares of the company’s stock worth $5,994,000 after buying an additional 55,955 shares during the last quarter. Geode Capital Management LLC boosted its stake in HighPeak Energy by 12.4% in the 2nd quarter. Geode Capital Management LLC now owns 640,028 shares of the company’s stock worth $6,273,000 after buying an additional 70,590 shares during the last quarter. Denali Advisors LLC boosted its stake in HighPeak Energy by 6.0% in the 4th quarter. Denali Advisors LLC now owns 617,628 shares of the company’s stock worth $2,928,000 after buying an additional 35,096 shares during the last quarter. Finally, State Street Corp boosted its stake in HighPeak Energy by 12.9% in the 4th quarter. State Street Corp now owns 558,108 shares of the company’s stock worth $2,645,000 after buying an additional 63,919 shares during the last quarter. 24.13% of the stock is currently owned by institutional investors and hedge funds.

About HighPeak Energy

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.