HighPeak Energy (NASDAQ:HPK) Shares Down 4.3% – Here’s What Happened

HighPeak Energy, Inc. (NASDAQ:HPK) shares fell 4.3% on Tuesday . The stock traded as low as $7.61 and last traded at $7.5020. 20,658 shares traded hands during trading, a decline of 98% from the average session volume of 960,451 shares. The stock had previously closed at $7.84.

Analyst Ratings Changes

HPK has been the topic of a number of recent analyst reports. Zacks Research raised shares of HighPeak Energy from a “strong sell” rating to a “hold” rating in a research report on Monday, May 25th. Wall Street Zen lowered shares of HighPeak Energy from a “hold” rating to a “sell” rating in a research report on Saturday. Finally, Weiss Ratings reissued a “sell (d)” rating on shares of HighPeak Energy in a research report on Wednesday, June 3rd. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, HighPeak Energy currently has a consensus rating of “Hold” and an average target price of $12.00.

HighPeak Energy Price Performance

The stock’s 50-day moving average is $6.81 and its 200-day moving average is $5.78. The firm has a market cap of $926.85 million, a P/E ratio of -6.17 and a beta of 0.35. The company has a quick ratio of 0.66, a current ratio of 0.67 and a debt-to-equity ratio of 0.75.

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 analysts’ consensus estimates of ($0.02). HighPeak Energy had a negative net margin of 18.78% and a negative return on equity of 0.73%. The firm had revenue of $215.89 million for the quarter, compared to the consensus estimate of $210.14 million. During the same quarter in the previous year, the company earned $0.31 earnings per share. The business’s revenue was down 20.7% compared to the same quarter last year. As a group, equities analysts anticipate that HighPeak Energy, Inc. will post -0.14 EPS for the current fiscal year.

Institutional Investors Weigh In On HighPeak Energy

A number of institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. boosted its stake in HighPeak Energy by 3.7% during the third quarter. Vanguard Group Inc. now owns 2,666,153 shares of the company’s stock worth $18,850,000 after buying an additional 94,834 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in HighPeak Energy by 6.9% during the first quarter. Bank of New York Mellon Corp now owns 868,683 shares of the company’s stock worth $5,994,000 after buying an additional 55,955 shares in the last quarter. Geode Capital Management LLC boosted its stake in HighPeak Energy by 12.4% during the second quarter. Geode Capital Management LLC now owns 640,028 shares of the company’s stock worth $6,273,000 after buying an additional 70,590 shares in the last quarter. Denali Advisors LLC grew its position in HighPeak Energy by 6.0% in the fourth quarter. Denali Advisors LLC now owns 617,628 shares of the company’s stock valued at $2,928,000 after acquiring an additional 35,096 shares during the period. Finally, State Street Corp grew its position in HighPeak Energy by 12.9% in the fourth quarter. State Street Corp now owns 558,108 shares of the company’s stock valued at $2,645,000 after acquiring an additional 63,919 shares during the period. Institutional investors and hedge funds 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.