HighPeak Energy (NASDAQ:HPK) Shares Gap Up to $14.34

HighPeak Energy, Inc. (NASDAQ:HPK)’s share price gapped up before the market opened on Thursday . The stock had previously closed at $14.34, but opened at $15.20. HighPeak Energy shares last traded at $15.19, with a volume of 68,025 shares traded.

Wall Street Analysts Forecast Growth

Separately, Truist Financial cut their target price on shares of HighPeak Energy from $11.00 to $10.00 and set a “sell” rating for the company in a research note on Friday, April 5th.

HighPeak Energy Stock Up 7.9 %

The firm has a market cap of $1.99 billion, a PE ratio of 9.81 and a beta of 0.67. The company has a quick ratio of 1.12, a current ratio of 1.14 and a debt-to-equity ratio of 0.66. The firm’s 50 day moving average is $15.36 and its 200-day moving average is $15.18.

HighPeak Energy (NASDAQ:HPK) last issued its quarterly earnings results on Wednesday, May 8th. The company reported $0.37 earnings per share for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.02). The business had revenue of $287.80 million for the quarter, compared to analysts’ expectations of $284.38 million. HighPeak Energy had a return on equity of 17.70% and a net margin of 19.42%. The company’s revenue for the quarter was up 28.6% compared to the same quarter last year. During the same period in the prior year, the company earned $0.39 EPS. As a group, equities research analysts expect that HighPeak Energy, Inc. will post 1.74 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Susquehanna Fundamental Investments LLC purchased a new position in shares of HighPeak Energy in the 1st quarter worth $287,000. Empowered Funds LLC increased its stake in HighPeak Energy by 49.6% during the first quarter. Empowered Funds LLC now owns 153,164 shares of the company’s stock worth $2,415,000 after acquiring an additional 50,812 shares during the last quarter. GSA Capital Partners LLP raised its holdings in shares of HighPeak Energy by 29.7% in the 1st quarter. GSA Capital Partners LLP now owns 127,460 shares of the company’s stock worth $2,010,000 after purchasing an additional 29,177 shares during the period. Wasatch Advisors LP lifted its stake in shares of HighPeak Energy by 15.6% in the 1st quarter. Wasatch Advisors LP now owns 521,150 shares of the company’s stock valued at $8,219,000 after purchasing an additional 70,385 shares in the last quarter. Finally, Register Financial Advisors LLC grew its holdings in shares of HighPeak Energy by 16.2% during the 1st quarter. Register Financial Advisors LLC now owns 43,000 shares of the company’s stock worth $678,000 after purchasing an additional 6,000 shares during the period. 24.13% of the stock is currently owned by hedge funds and other institutional investors.

HighPeak Energy Company Profile

HighPeak Energy, Inc, an independent oil and natural gas company, engages in the exploration, development, and production of crude oil, natural gas, and natural gas liquids reserves in the Permian Basin in West Texas and Eastern New Mexico. The company was incorporated in 2019 and is headquartered in Fort Worth, Texas.