HighPeak Energy (NASDAQ:HPK) Shares Down 6.1% – Here’s Why

HighPeak Energy, Inc. (NASDAQ:HPK)’s stock price fell 6.1% during mid-day trading on Thursday . The company traded as low as $7.03 and last traded at $7.09. 260,899 shares were traded during mid-day trading, a decline of 73% from the average session volume of 952,473 shares. The stock had previously closed at $7.55.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on HPK. Zacks Research upgraded HighPeak Energy from a “strong sell” rating to a “hold” rating in a research note on Monday, May 25th. Weiss Ratings restated a “sell (d)” rating on shares of HighPeak Energy in a research note on Wednesday, June 3rd. Finally, Wall Street Zen upgraded HighPeak Energy from a “sell” rating to a “hold” rating in a research note on Sunday. One research analyst has rated the stock with a Strong Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $12.00.

HighPeak Energy Price Performance

The stock has a market cap of $902.21 million, a P/E ratio of -6.00 and a beta of 0.35. The company has a debt-to-equity ratio of 0.75, a quick ratio of 0.66 and a current ratio of 0.67. The business has a 50 day simple moving average of $6.91 and a 200-day simple moving average of $5.85.

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Strs Ohio bought a new position in shares of HighPeak Energy during the 1st quarter worth $60,000. Raymond James Financial Inc. bought a new position in shares of HighPeak Energy during the 2nd quarter worth $49,000. Caitong International Asset Management Co. Ltd bought a new position in shares of HighPeak Energy during the 4th quarter worth $29,000. Kestra Advisory Services LLC bought a new position in shares of HighPeak Energy during the 1st quarter worth $70,000. Finally, Stokes Family Office LLC bought a new position in shares of HighPeak Energy during the 4th quarter worth $48,000. Institutional investors 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.