HighPeak Energy (NASDAQ:HPK) Trading Down 6.5% – Time to Sell?

HighPeak Energy, Inc. (NASDAQ:HPK)’s stock price traded down 6.5% on Wednesday . The company traded as low as $7.63 and last traded at $7.7210. Approximately 65,888 shares traded hands during mid-day trading, a decline of 92% from the average session volume of 853,854 shares. The stock had previously closed at $8.26.

Wall Street Analysts Forecast Growth

HPK has been the topic of a number of analyst reports. Wall Street Zen downgraded shares of HighPeak Energy from a “hold” rating to a “sell” rating in a research report on Saturday. Weiss Ratings restated a “sell (d)” rating on shares of HighPeak Energy in a research note on Wednesday, June 3rd. Finally, Zacks Research upgraded shares of HighPeak Energy from a “strong sell” rating to a “hold” rating in a research note on Monday, May 25th. 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. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $12.00.

HighPeak Energy Stock Down 11.1%

The company has a 50-day moving average of $7.27 and a 200-day moving average of $6.47. 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 company has a market capitalization of $927.47 million, a price-to-earnings ratio of -9.29 and a beta of 0.35.

Hedge Funds Weigh In On HighPeak Energy

Several hedge funds have recently modified their holdings of HPK. Ieq Capital LLC acquired a new stake in HighPeak Energy in the 2nd quarter worth approximately $996,000. Allworth Financial LP purchased a new position in shares of HighPeak Energy in the second quarter worth $37,000. Great Lakes Advisors LLC purchased a new position in shares of HighPeak Energy in the second quarter worth $95,000. Texas Capital Bank Wealth Management Services Inc acquired a new stake in shares of HighPeak Energy during the second quarter worth $5,426,000. Finally, BlackRock Inc. purchased a new stake in shares of HighPeak Energy during the second quarter valued at $13,154,000. 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.