HighPeak Energy (NASDAQ:HPK) Shares Down 6.1% – Time to Sell?

HighPeak Energy, Inc. (NASDAQ:HPK)’s stock price fell 6.1% on Thursday . The company traded as low as $7.03 and last traded at $7.09. Approximately 260,899 shares were traded during mid-day trading, a decline of 73% from the average daily volume of 952,473 shares. The stock had previously closed at $7.55.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on HPK. Wall Street Zen upgraded shares of HighPeak Energy from a “sell” rating to a “hold” rating in a research report on Sunday, June 14th. 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 reaffirmed a “sell (d)” rating on shares of HighPeak Energy in a research note on Wednesday, June 3rd. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $12.00.

HighPeak Energy Price Performance

The stock has a market capitalization of $907.26 million, a P/E ratio of -6.03 and a beta of 0.35. 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 50-day simple moving average of $6.93 and a 200 day simple moving average of $5.86.

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

Institutional Trading of HighPeak Energy

Several institutional investors and hedge funds have recently added to or reduced their stakes in HPK. Empowered Funds LLC boosted its stake in shares of HighPeak Energy by 1.9% in the 1st quarter. Empowered Funds LLC now owns 186,174 shares of the company’s stock valued at $2,357,000 after purchasing an additional 3,431 shares during the last quarter. Jane Street Group LLC raised its stake in shares of HighPeak Energy by 79.6% during the first quarter. Jane Street Group LLC now owns 20,368 shares of the company’s stock worth $258,000 after buying an additional 9,029 shares during the last quarter. Strs Ohio bought a new stake in shares of HighPeak Energy during the first quarter worth approximately $60,000. Geode Capital Management LLC lifted its holdings in HighPeak Energy by 12.4% in the second quarter. Geode Capital Management LLC now owns 640,028 shares of the company’s stock valued at $6,273,000 after buying an additional 70,590 shares during the period. Finally, Creative Planning acquired a new position in HighPeak Energy in the second quarter valued at approximately $225,000. 24.13% of the stock is owned by institutional investors.

HighPeak Energy Company Profile

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.