HighPeak Energy (NASDAQ:HPK) Stock Price Down 5% – Here’s Why

HighPeak Energy, Inc. (NASDAQ:HPK)’s share price dropped 5% on Thursday . The company traded as low as $7.04 and last traded at $7.0650. 58,169 shares changed hands during mid-day trading, a decline of 94% from the average session volume of 922,285 shares. The stock had previously closed at $7.44.

Wall Street Analysts Forecast Growth

Several research firms have commented on HPK. Wall Street Zen upgraded HighPeak Energy from a “sell” rating to a “hold” rating in a research note on Tuesday, June 30th. Zacks Research upgraded HighPeak Energy from a “strong sell” rating to a “hold” rating in a research report on Monday, May 25th. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of HighPeak Energy in a research note on Wednesday, June 3rd. One equities 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 company’s stock. According to MarketBeat.com, HighPeak Energy presently has an average rating of “Hold” and a consensus target price of $12.00.

HighPeak Energy Stock Up 0.1%

The stock has a market capitalization of $885.78 million, a price-to-earnings ratio of -5.89 and a beta of 0.36. The business’s 50-day moving average is $7.16 and its two-hundred day moving average is $6.02. 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 released its quarterly earnings data on Wednesday, May 6th. The company reported ($0.02) EPS for the quarter, meeting 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 company had revenue of $215.89 million during the quarter, compared to the consensus estimate of $210.14 million. During the same quarter in the prior year, the firm earned $0.31 EPS. HighPeak Energy’s quarterly revenue was down 20.7% on a year-over-year basis. Equities analysts anticipate that HighPeak Energy, Inc. will post -0.08 EPS for the current year.

Institutional Trading of HighPeak Energy

Hedge funds and other institutional investors have recently modified their holdings of the stock. Strs Ohio acquired a new stake in HighPeak Energy during the first quarter worth about $60,000. Raymond James Financial Inc. acquired a new position in shares of HighPeak Energy in the 2nd quarter valued at $49,000. Caitong International Asset Management Co. Ltd acquired a new position in shares of HighPeak Energy in the 4th quarter valued at $29,000. Kestra Advisory Services LLC purchased a new position in shares of HighPeak Energy during the 1st quarter worth $70,000. Finally, Stokes Family Office LLC purchased a new position in shares of HighPeak Energy during the 4th quarter worth $48,000. 24.13% of the stock is owned by institutional investors and hedge funds.

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.