HighPeak Energy (NASDAQ:HPK) Cut to Sell at Wall Street Zen

Wall Street Zen downgraded shares of HighPeak Energy (NASDAQ:HPK) from a hold rating to a sell rating in a research report sent to investors on Saturday.

HPK has been the subject of several other reports. Zacks Research upgraded HighPeak Energy from a “strong sell” rating to a “hold” rating in a report on Monday, May 25th. Weiss Ratings reiterated a “sell (d)” rating on shares of HighPeak Energy in a report on Wednesday, June 3rd. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, HighPeak Energy presently has a consensus rating of “Hold” and an average price target of $12.00.

HighPeak Energy Price Performance

HPK opened at $7.92 on Friday. HighPeak Energy has a 12-month low of $3.85 and a 12-month high of $8.97. The company has a current ratio of 0.67, a quick ratio of 0.66 and a debt-to-equity ratio of 0.75. The business’s fifty day simple moving average is $7.27 and its 200-day simple moving average is $6.44. The company has a market capitalization of $1.00 billion, a price-to-earnings ratio of -6.66 and a beta of 0.35.

Institutional Trading of HighPeak Energy

Hedge funds and other institutional investors have recently bought and sold shares of the stock. BlackRock Inc. purchased a new stake in shares of HighPeak Energy during the 2nd quarter worth $13,154,000. Texas Capital Bank Wealth Management Services Inc bought a new stake in HighPeak Energy during the second quarter valued at about $5,426,000. Bank of New York Mellon Corp purchased a new position in HighPeak Energy in the second quarter valued at about $1,188,000. Renaissance Technologies LLC purchased a new position in HighPeak Energy in the fourth quarter valued at about $576,000. Finally, GSA Capital Partners LLP bought a new position in HighPeak Energy in the second quarter worth about $724,000. 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.