HighPeak Energy (NASDAQ:HPK) Shares Gap Down After Earnings Miss

Shares of HighPeak Energy, Inc. (NASDAQ:HPK) gapped down prior to trading on Thursday after the company announced weaker than expected quarterly earnings. The stock had previously closed at $5.85, but opened at $5.33. HighPeak Energy shares last traded at $5.3750, with a volume of 638,507 shares changing hands.

The company reported $0.82 EPS for the quarter. HighPeak Energy had a net margin of 6.03% and a return on equity of 4.23%.

Analysts Set New Price Targets

HPK has been the subject of several recent analyst reports. Weiss Ratings reiterated a “sell (d+)” rating on shares of HighPeak Energy in a research note on Monday, December 29th. Zacks Research cut shares of HighPeak Energy from a “hold” rating to a “strong sell” rating in a research report on Monday, February 2nd. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat, HighPeak Energy presently has a consensus rating of “Reduce” and an average target price of $11.67.

Hedge Funds Weigh In On HighPeak Energy

Several hedge funds and other institutional investors have recently modified their holdings of HPK. Caitong International Asset Management Co. Ltd acquired a new position in HighPeak Energy during the 4th quarter worth $29,000. State of Alaska Department of Revenue bought a new position in shares of HighPeak Energy in the 3rd quarter valued at approximately $31,000. Stokes Family Office LLC acquired a new stake in HighPeak Energy in the 4th quarter valued at approximately $48,000. Raymond James Financial Inc. bought a new stake in shares of HighPeak Energy in the 2nd quarter worth approximately $49,000. Finally, The Manufacturers Life Insurance Company bought a new stake in shares of HighPeak Energy in the 4th quarter valued at approximately $51,000. Institutional investors and hedge funds own 24.13% of the company’s stock.

HighPeak Energy Stock Performance

The firm has a market capitalization of $677.04 million, a P/E ratio of 14.97 and a beta of 0.64. 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 stock has a 50-day moving average of $4.82 and a 200 day moving average of $5.83.

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.