HighPeak Energy (NASDAQ:HPK) Trading Down 5.9% – Here’s Why

Shares of HighPeak Energy, Inc. (NASDAQ:HPK) traded down 5.9% on Tuesday . The stock traded as low as $7.35 and last traded at $7.39. 192,725 shares changed hands during mid-day trading, a decline of 80% from the average session volume of 979,379 shares. The stock had previously closed at $7.85.

Analyst Ratings Changes

A number of analysts recently commented on HPK shares. Wall Street Zen upgraded shares of HighPeak Energy from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th. Zacks Research downgraded shares of HighPeak Energy from a “hold” rating to a “strong sell” rating in a research report on Friday, April 24th. One analyst has rated the stock with a Strong Buy rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $12.00.

HighPeak Energy Stock Down 9.3%

The company has a quick ratio of 0.66, a current ratio of 0.67 and a debt-to-equity ratio of 0.75. The firm has a market cap of $899.68 million, a P/E ratio of -5.98 and a beta of 0.34. The stock’s 50-day simple moving average is $6.63 and its 200 day simple moving average is $5.66.

HighPeak Energy (NASDAQ:HPK) last announced its quarterly earnings data on Wednesday, May 6th. The company reported ($0.02) earnings per share for the quarter, meeting the consensus estimate of ($0.02). HighPeak Energy had a negative net margin of 18.78% and a negative return on equity of 0.73%. The firm 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 business earned $0.31 earnings per share. The business’s quarterly revenue was down 20.7% compared to the same quarter last year. As a group, research analysts forecast that HighPeak Energy, Inc. will post -0.14 EPS for the current fiscal year.

Institutional Trading of HighPeak Energy

Institutional investors and hedge funds have recently bought and sold shares of the company. 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 worth $2,357,000 after purchasing an additional 3,431 shares during the period. Alliancebernstein L.P. raised its holdings in HighPeak Energy by 8.1% in the third quarter. Alliancebernstein L.P. now owns 46,540 shares of the company’s stock worth $329,000 after buying an additional 3,500 shares during the last quarter. State of Alaska Department of Revenue purchased a new position in HighPeak Energy in the third quarter worth about $31,000. Strs Ohio purchased a new position in shares of HighPeak Energy during the first quarter valued at approximately $60,000. Finally, Intech Investment Management LLC raised its holdings in shares of HighPeak Energy by 46.4% during the third quarter. Intech Investment Management LLC now owns 15,251 shares of the company’s stock valued at $108,000 after purchasing an additional 4,831 shares during the last quarter. 24.13% of the stock is currently owned by hedge funds and other institutional investors.

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.