HighPeak Energy (NASDAQ:HPK) Shares Down 14.6% – Here’s What Happened

Shares of HighPeak Energy, Inc. (NASDAQ:HPK) traded down 14.6% during trading on Thursday . The company traded as low as $4.51 and last traded at $4.49. 336,765 shares were traded during mid-day trading, a decline of 61% from the average session volume of 872,856 shares. The stock had previously closed at $5.26.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on HPK shares. Zacks Research lowered HighPeak Energy from a “hold” rating to a “strong sell” rating in a research note on Monday, February 2nd. Weiss Ratings restated a “sell (d+)” rating on shares of HighPeak Energy in a research note on Monday, December 29th. Finally, Wall Street Zen downgraded shares of HighPeak Energy from a “hold” rating to a “sell” rating in a report on Sunday, October 26th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat, HighPeak Energy presently has a consensus rating of “Reduce” and an average price target of $11.67.

HighPeak Energy Price Performance

The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.58 and a current ratio of 1.65. The company’s 50 day moving average price is $4.60 and its 200 day moving average price is $6.22. The company has a market cap of $639.25 million, a price-to-earnings ratio of 14.14 and a beta of 0.64.

Institutional Trading of HighPeak Energy

Hedge funds have recently modified their holdings of the company. Sanders Morris Harris LLC boosted its holdings in shares of HighPeak Energy by 0.5% in the 2nd quarter. Sanders Morris Harris LLC now owns 355,146 shares of the company’s stock worth $3,480,000 after acquiring an additional 1,600 shares in the last quarter. Empowered Funds LLC raised its position in HighPeak Energy by 1.9% in the 1st quarter. Empowered Funds LLC now owns 186,174 shares of the company’s stock valued at $2,357,000 after purchasing an additional 3,431 shares during the last quarter. Alliancebernstein L.P. raised its position in HighPeak Energy by 8.1% in the 3rd quarter. Alliancebernstein L.P. now owns 46,540 shares of the company’s stock valued at $329,000 after purchasing an additional 3,500 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH boosted its stake in HighPeak Energy by 29.7% in the second quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 16,266 shares of the company’s stock worth $159,000 after purchasing an additional 3,722 shares in the last quarter. Finally, State of Alaska Department of Revenue bought a new stake in shares of HighPeak Energy during the third quarter worth $31,000. Institutional investors and hedge funds own 24.13% of the company’s stock.

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.