HighPeak Energy (NASDAQ:HPK) Shares Gap Up – Here’s What Happened

Shares of HighPeak Energy, Inc. (NASDAQ:HPK) gapped up before the market opened on Thursday . The stock had previously closed at $8.21, but opened at $8.50. HighPeak Energy shares last traded at $8.30, with a volume of 31,136 shares trading hands.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the company. Wall Street Zen raised HighPeak Energy from a “sell” rating to a “hold” rating in a research note on Sunday, August 16th. Zacks Research upgraded shares of HighPeak Energy from a “strong sell” rating to a “hold” rating in a research report on Monday, May 25th. Finally, Weiss Ratings restated a “sell (d)” rating on shares of HighPeak Energy in a research report on Monday, August 31st. One research analyst has rated the stock with a Strong Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $12.00.

HighPeak Energy Stock Down 1.3%

The firm’s 50 day moving average price is $7.58 and its 200-day moving average price is $6.99. The company has a current ratio of 0.87, a quick ratio of 0.85 and a debt-to-equity ratio of 0.69. The company has a market cap of $1.07 billion, a P/E ratio of -10.72 and a beta of 0.39.

HighPeak Energy (NASDAQ:HPK) last posted its quarterly earnings results on Monday, August 10th. The company reported $0.59 earnings per share for the quarter, topping analysts’ consensus estimates of $0.02 by $0.57. The business had revenue of $272.42 million during the quarter, compared to the consensus estimate of $240.03 million. HighPeak Energy had a negative net margin of 10.52% and a negative return on equity of 1.44%. HighPeak Energy’s revenue for the quarter was up 25.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.10 earnings per share. As a group, equities research analysts expect that HighPeak Energy, Inc. will post -0.08 EPS for the current year.

Institutional Trading of HighPeak Energy

A number of hedge funds have recently modified their holdings of HPK. Empowered Funds LLC raised its holdings in HighPeak Energy by 1.9% in the first quarter. Empowered Funds LLC now owns 186,174 shares of the company’s stock worth $2,357,000 after purchasing an additional 3,431 shares during the period. Jane Street Group LLC lifted its stake in HighPeak Energy by 79.6% in the first quarter. Jane Street Group LLC now owns 20,368 shares of the company’s stock valued at $258,000 after buying an additional 9,029 shares in the last quarter. Strs Ohio bought a new position in HighPeak Energy in the first quarter valued at approximately $60,000. Geode Capital Management LLC lifted its position in HighPeak Energy by 12.4% in the 2nd quarter. Geode Capital Management LLC now owns 640,028 shares of the company’s stock valued at $6,273,000 after acquiring an additional 70,590 shares in the last quarter. Finally, Creative Planning acquired a new position in shares of HighPeak Energy during the second quarter worth about $225,000. 24.13% of the stock is currently owned by institutional investors and hedge funds.

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.