HighPeak Energy (NASDAQ:HPK) Shares Down 6.7% – Time to Sell?

Shares of HighPeak Energy, Inc. (NASDAQ:HPK) dropped 6.7% during mid-day trading on Wednesday . The stock traded as low as $5.08 and last traded at $5.17. Approximately 230,622 shares changed hands during trading, a decline of 74% from the average daily volume of 896,185 shares. The stock had previously closed at $5.54.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on HPK. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of HighPeak Energy in a research note on Monday, December 29th. Zacks Research downgraded shares of HighPeak Energy from a “hold” rating to a “strong sell” rating in a report on Monday, February 2nd. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Reduce” and a consensus target price of $11.67.

HighPeak Energy Stock Up 0.2%

The business’s 50 day simple moving average is $4.73 and its 200 day simple moving average is $5.89. The company has a market capitalization of $670.63 million, a PE ratio of 14.83 and a beta of 0.64. The company has a quick ratio of 1.58, a current ratio of 1.65 and a debt-to-equity ratio of 0.71.

Institutional Trading of HighPeak Energy

Hedge funds have recently modified their holdings of the business. Caitong International Asset Management Co. Ltd acquired a new stake in shares of HighPeak Energy in the fourth quarter worth $29,000. State of Alaska Department of Revenue purchased a new stake in HighPeak Energy in the 3rd quarter worth about $31,000. Stokes Family Office LLC acquired a new stake in HighPeak Energy during the 4th quarter worth about $48,000. Raymond James Financial Inc. purchased a new position in HighPeak Energy during the 2nd quarter valued at about $49,000. Finally, The Manufacturers Life Insurance Company purchased a new position in HighPeak Energy during the 4th quarter valued at about $51,000. Hedge funds and other institutional investors own 24.13% of the company’s stock.

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.