Zacks Research Upgrades HighPeak Energy (NASDAQ:HPK) to “Hold”

HighPeak Energy (NASDAQ:HPK) was upgraded by research analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a research note issued on Monday,Zacks.com reports.

Separately, 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 investment analyst has rated the stock with a Strong Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $12.00.

HighPeak Energy Trading Down 10.1%

Shares of HPK stock opened at $7.06 on Monday. 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 stock has a market cap of $892.09 million, a P/E ratio of -5.93 and a beta of 0.34. The stock has a 50 day simple moving average of $6.65 and a 200 day simple moving average of $5.66. HighPeak Energy has a 1 year low of $3.85 and a 1 year high of $12.00.

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

Hedge Funds Weigh In On HighPeak Energy

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Kestra Advisory Services LLC bought a new position in HighPeak Energy in the 1st quarter valued at approximately $70,000. Caitong International Asset Management Co. Ltd bought a new position in HighPeak Energy in the 4th quarter valued at approximately $29,000. Alpine Global Management LLC bought a new position in HighPeak Energy in the 4th quarter valued at approximately $200,000. Aristides Capital LLC bought a new position in HighPeak Energy in the 4th quarter valued at approximately $194,000. Finally, Texas Capital Bank Wealth Management Services Inc bought a new position in HighPeak Energy in the 4th quarter valued at approximately $2,257,000. 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.