HighPeak Energy (NASDAQ:HPK) Shares Gap Down – Should You Sell?

Shares of HighPeak Energy, Inc. (NASDAQ:HPK) gapped down before the market opened on Wednesday . The stock had previously closed at $7.09, but opened at $6.37. HighPeak Energy shares last traded at $6.4030, with a volume of 236,935 shares traded.

Analysts Set New Price Targets

HPK has been the topic of a number of recent research reports. Zacks Research upgraded shares of HighPeak Energy from a “strong sell” rating to a “hold” rating in a research note on Tuesday, March 17th. Weiss Ratings reiterated a “sell (d+)” rating on shares of HighPeak Energy in a research note on Monday, December 29th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $12.00.

HighPeak Energy Trading Down 9.9%

The company has a quick ratio of 1.10, a current ratio of 1.13 and a debt-to-equity ratio of 0.71. The company has a fifty day moving average of $5.71 and a two-hundred day moving average of $5.73. The stock has a market capitalization of $807.43 million, a price-to-earnings ratio of 71.01 and a beta of 0.60.

HighPeak Energy (NASDAQ:HPK) last released its earnings results on Saturday, January 31st. The company reported $0.82 EPS for the quarter. HighPeak Energy had a return on equity of 2.11% and a net margin of 2.33%. On average, research analysts expect that HighPeak Energy, Inc. will post 0.78 EPS for the current year.

Institutional Trading of HighPeak Energy

Several hedge funds and other institutional investors have recently added to or reduced their stakes in HPK. Empowered Funds LLC grew its holdings in shares of HighPeak Energy by 1.9% during 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. increased its holdings in HighPeak Energy by 8.1% during the 3rd quarter. Alliancebernstein L.P. now owns 46,540 shares of the company’s stock worth $329,000 after purchasing an additional 3,500 shares during the last quarter. State of Alaska Department of Revenue purchased a new stake in HighPeak Energy during the 3rd quarter worth approximately $31,000. Voya Investment Management LLC increased its holdings in HighPeak Energy by 2.3% during the 3rd quarter. Voya Investment Management LLC now owns 199,963 shares of the company’s stock worth $1,414,000 after purchasing an additional 4,559 shares during the last quarter. Finally, Strs Ohio purchased a new stake in HighPeak Energy during the 1st quarter worth approximately $60,000. Hedge funds and other 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.