HighPeak Energy (NASDAQ:HPK) Shares Gap Up – What’s Next?

HighPeak Energy, Inc. (NASDAQ:HPK) gapped up before the market opened on Wednesday . The stock had previously closed at $6.62, but opened at $6.90. HighPeak Energy shares last traded at $7.0990, with a volume of 84,994 shares changing hands.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on HPK shares. Weiss Ratings reiterated a “sell (d)” rating on shares of HighPeak Energy in a research note on Wednesday, June 3rd. Zacks Research upgraded HighPeak Energy from a “strong sell” rating to a “hold” rating in a research report on Monday, May 25th. Finally, Wall Street Zen raised HighPeak Energy from a “sell” rating to a “hold” rating in a research note on Tuesday, June 30th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, HighPeak Energy has a consensus rating of “Hold” and a consensus price target of $12.00.

HighPeak Energy Stock Down 5.9%

The firm has a fifty day moving average price of $7.16 and a 200 day moving average price of $6.02. The company has a quick ratio of 0.66, a current ratio of 0.67 and a debt-to-equity ratio of 0.75. The company has a market cap of $884.52 million, a P/E ratio of -5.88 and a beta of 0.36.

HighPeak Energy (NASDAQ:HPK) last announced its earnings results on Wednesday, May 6th. The company reported ($0.02) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.02). The company had revenue of $215.89 million during the quarter, compared to analyst estimates 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 quarterly revenue was down 20.7% compared to the same quarter last year. During the same period last year, the company posted $0.31 earnings per share. Equities research analysts forecast that HighPeak Energy, Inc. will post -0.08 earnings per share for the current year.

Hedge Funds Weigh In On HighPeak Energy

Institutional investors have recently modified their holdings of the stock. Texas Capital Bank Wealth Management Services Inc acquired a new position in shares of HighPeak Energy during the fourth quarter worth approximately $2,257,000. Brooklyn Investment Group acquired a new stake in shares of HighPeak Energy in the fourth quarter valued at approximately $68,000. Atom Investors LP acquired a new stake in shares of HighPeak Energy in the fourth quarter valued at approximately $68,000. Strs Ohio bought a new position in HighPeak Energy in the 1st quarter worth approximately $60,000. Finally, Raymond James Financial Inc. bought a new position in HighPeak Energy in the 2nd quarter worth approximately $49,000. 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.