HighPeak Energy (NASDAQ:HPK) Trading Down 4% – What’s Next?

HighPeak Energy, Inc. (NASDAQ:HPK)’s stock price dropped 4% on Wednesday . The company traded as low as $7.84 and last traded at $7.7960. Approximately 330,158 shares were traded during mid-day trading, a decline of 66% from the average daily volume of 984,101 shares. The stock had previously closed at $8.12.

Wall Street Analysts Forecast Growth

HPK has been the topic of a number of analyst reports. Zacks Research downgraded shares of HighPeak Energy from a “hold” rating to a “strong sell” rating in a research report on Friday, April 24th. Wall Street Zen upgraded shares of HighPeak Energy from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th. One equities research analyst has rated the stock with a Strong Buy rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $12.00.

HighPeak Energy Stock Up 6.7%

The company has a debt-to-equity ratio of 0.75, a quick ratio of 0.66 and a current ratio of 0.67. The stock has a market capitalization of $984.60 million, a price-to-earnings ratio of -6.55 and a beta of 0.34. The firm’s fifty day simple moving average is $6.55 and its 200 day simple moving average is $5.63.

HighPeak Energy (NASDAQ:HPK) last announced its earnings results on Wednesday, May 6th. The company reported ($0.02) EPS for the quarter, hitting the consensus estimate of ($0.02). The firm had revenue of $215.89 million for the quarter, compared to the consensus estimate of $210.14 million. HighPeak Energy had a negative net margin of 18.78% and a negative return on equity of 0.73%. The business’s quarterly revenue was down 20.7% on a year-over-year basis. During the same period last year, the company posted $0.31 EPS. On average, sell-side analysts forecast that HighPeak Energy, Inc. will post -0.14 earnings per share for the current year.

Hedge Funds Weigh In On HighPeak Energy

Several hedge funds have recently made changes to their positions in HPK. Cetera Investment Advisers bought a new position in shares of HighPeak Energy in the first quarter valued at $104,000. Independent Financial Group LLC bought a new position in shares of HighPeak Energy in the first quarter valued at $179,000. Bank of New York Mellon Corp grew its stake in shares of HighPeak Energy by 6.9% in the first quarter. Bank of New York Mellon Corp now owns 868,683 shares of the company’s stock valued at $5,994,000 after buying an additional 55,955 shares in the last quarter. Hsbc Holdings PLC bought a new position in shares of HighPeak Energy in the first quarter valued at $255,000. Finally, Kestra Advisory Services LLC bought a new position in shares of HighPeak Energy in the first quarter valued at $70,000. 24.13% of the stock is owned by institutional investors.

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.