HighPeak Energy (NASDAQ:HPK) Shares Up 8.1% – Here’s Why

Shares of HighPeak Energy, Inc. (NASDAQ:HPK) shot up 8.1% on Wednesday . The company traded as high as $7.91 and last traded at $7.9540. 41,488 shares traded hands during trading, a decline of 96% from the average session volume of 958,609 shares. The stock had previously closed at $7.36.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on HPK. Weiss Ratings reaffirmed a “sell (d)” rating on shares of HighPeak Energy in a report on Wednesday, June 3rd. Zacks Research raised HighPeak Energy from a “strong sell” rating to a “hold” rating in a report on Monday, May 25th. Finally, Wall Street Zen lowered HighPeak Energy from a “hold” rating to a “sell” rating in a report on Saturday, June 6th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, HighPeak Energy currently has an average rating of “Hold” and a consensus target price of $12.00.

HighPeak Energy Price Performance

The company has a debt-to-equity ratio of 0.75, a current ratio of 0.67 and a quick ratio of 0.66. The company has a 50-day moving average price of $6.84 and a 200-day moving average price of $5.82. The firm has a market capitalization of $1.01 billion, a PE ratio of -6.75 and a beta of 0.35.

HighPeak Energy (NASDAQ:HPK) last issued its quarterly earnings data on Wednesday, May 6th. The company reported ($0.02) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.02). HighPeak Energy had a negative return on equity of 0.73% and a negative net margin of 18.78%.The business had revenue of $215.89 million for the quarter, compared to the consensus estimate of $210.14 million. During the same period in the prior year, the business earned $0.31 earnings per share. The business’s revenue was down 20.7% on a year-over-year basis. Sell-side analysts forecast that HighPeak Energy, Inc. will post -0.14 EPS for the current year.

Institutional Trading of HighPeak Energy

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Empowered Funds LLC lifted its position in shares of HighPeak Energy by 1.9% in the first quarter. Empowered Funds LLC now owns 186,174 shares of the company’s stock valued at $2,357,000 after acquiring an additional 3,431 shares in the last quarter. Alliancebernstein L.P. lifted its position in HighPeak Energy by 8.1% during 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 period. Strs Ohio purchased a new position in HighPeak Energy during the first quarter worth about $60,000. Intech Investment Management LLC lifted its position in HighPeak Energy by 46.4% during the third quarter. Intech Investment Management LLC now owns 15,251 shares of the company’s stock worth $108,000 after buying an additional 4,831 shares during the period. Finally, Rhumbline Advisers lifted its position in HighPeak Energy by 23.6% during the second quarter. Rhumbline Advisers now owns 25,483 shares of the company’s stock worth $250,000 after buying an additional 4,864 shares during the period. 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.