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

HighPeak Energy, Inc. (NASDAQ:HPK) shares gapped down prior to trading on Wednesday . The stock had previously closed at $6.90, but opened at $6.62. HighPeak Energy shares last traded at $6.2750, with a volume of 133,774 shares trading hands.

Analyst Ratings Changes

A number of research analysts recently weighed in on the company. Zacks Research raised HighPeak Energy from a “strong sell” rating to a “hold” rating in a report on Tuesday, March 17th. Weiss Ratings reissued a “sell (d+)” rating on shares of HighPeak Energy in a report on Monday, December 29th. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $11.00.

HighPeak Energy Stock Performance

The stock has a 50-day simple moving average of $5.54 and a 200 day simple moving average of $5.75. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.13 and a quick ratio of 1.10. The company has a market capitalization of $871.88 million, a PE ratio of 76.68 and a beta of 0.60.

HighPeak Energy (NASDAQ:HPK) last announced its quarterly earnings results on Saturday, January 31st. The company reported $0.82 earnings per share for the quarter. HighPeak Energy had a return on equity of 2.11% and a net margin of 2.33%. Equities analysts anticipate that HighPeak Energy, Inc. will post 0.78 EPS for the current fiscal year.

Hedge Funds Weigh In On HighPeak Energy

Several hedge funds have recently added to or reduced their stakes in HPK. Empowered Funds LLC raised its position in HighPeak Energy by 1.9% during the first quarter. Empowered Funds LLC now owns 186,174 shares of the company’s stock worth $2,357,000 after acquiring an additional 3,431 shares during the last quarter. Alliancebernstein L.P. grew its position in shares of HighPeak Energy by 8.1% in the third 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. State of Alaska Department of Revenue purchased a new position in shares of HighPeak Energy during the 3rd quarter worth approximately $31,000. Voya Investment Management LLC increased its stake in shares of HighPeak Energy by 2.3% during the 3rd quarter. Voya Investment Management LLC now owns 199,963 shares of the company’s stock worth $1,414,000 after purchasing an additional 4,559 shares in the last quarter. Finally, Strs Ohio acquired a new position in shares of HighPeak Energy during the 1st quarter worth approximately $60,000. 24.13% of the stock is currently 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.