HighPeak Energy (NASDAQ:HPK) Trading Up 10.6% – Here’s What Happened

HighPeak Energy, Inc. (NASDAQ:HPK) shares were up 10.6% during trading on Wednesday . The company traded as high as $5.27 and last traded at $5.2850. Approximately 336,862 shares changed hands during trading, a decline of 61% from the average daily volume of 868,736 shares. The stock had previously closed at $4.78.

Analyst Upgrades and Downgrades

HPK has been the subject of several research analyst reports. Wall Street Zen lowered HighPeak Energy from a “hold” rating to a “sell” rating in a research note on Sunday, October 26th. Weiss Ratings reissued a “sell (d+)” rating on shares of HighPeak Energy in a report on Monday, December 29th. Finally, Zacks Research cut shares of HighPeak Energy from a “hold” rating to a “strong sell” rating in a research report on Monday, February 2nd. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Hold rating and three have issued a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Reduce” and an average target price of $11.67.

HighPeak Energy Trading Up 9.6%

The firm’s 50-day simple moving average is $4.58 and its 200-day simple moving average is $6.10. The firm has a market capitalization of $658.08 million, a PE ratio of 14.56 and a beta of 0.64. The company has a quick ratio of 1.58, a current ratio of 1.65 and a debt-to-equity ratio of 0.71.

Institutional Trading of HighPeak Energy

Hedge funds and other institutional investors have recently bought and sold shares of the stock. State of Alaska Department of Revenue purchased a new stake in shares of HighPeak Energy during the third quarter valued at approximately $31,000. Strs Ohio bought a new stake in HighPeak Energy during the 1st quarter valued at $60,000. Raymond James Financial Inc. bought a new stake in HighPeak Energy during the 2nd quarter valued at $49,000. Stokes Family Office LLC purchased a new stake in HighPeak Energy during the 4th quarter valued at $48,000. Finally, The Manufacturers Life Insurance Company purchased a new stake in HighPeak Energy during the 4th quarter valued at $51,000. 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.