HighPeak Energy (NASDAQ:HPK) Stock Falls 5.6% – What’s Next?

HighPeak Energy, Inc. (NASDAQ:HPK)’s stock price dropped 5.6% on Tuesday. The company traded as low as $10.84 and last traded at $10.7550. Approximately 261,026 shares traded hands during mid-day trading, a decline of 66% from the average session volume of 778,491 shares. The stock had previously closed at $11.39.

Analysts Set New Price Targets

HPK has been the subject of several recent research reports. Wall Street Zen raised shares of HighPeak Energy from a “sell” rating to a “hold” rating in a research note on Sunday, August 16th. Weiss Ratings restated a “sell (d)” rating on shares of HighPeak Energy in a report on Monday, August 31st. One research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Reduce”.

HighPeak Energy Stock Up 2.5%

The company has a fifty day moving average of $8.49 and a 200 day moving average of $7.53. The company has a quick ratio of 0.85, a current ratio of 0.87 and a debt-to-equity ratio of 0.69. The company has a market cap of $1.42 billion, a P/E ratio of -14.25 and a beta of 0.36.

HighPeak Energy (NASDAQ:HPK) last issued its quarterly earnings data on Monday, August 10th. The company reported $0.59 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.02 by $0.57. HighPeak Energy had a negative net margin of 10.52% and a negative return on equity of 1.44%. The firm had revenue of $272.42 million during the quarter, compared to the consensus estimate of $240.03 million. During the same quarter in the previous year, the firm posted $0.10 EPS. The company’s revenue for the quarter was up 25.8% compared to the same quarter last year. On average, research analysts anticipate that HighPeak Energy, Inc. will post 0.15 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in HPK. BlackRock Inc. purchased a new stake in HighPeak Energy during the second quarter valued at $13,154,000. Bank of New York Mellon Corp boosted its stake in shares of HighPeak Energy by 6.9% during 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 purchasing an additional 55,955 shares during the period. Texas Capital Bank Wealth Management Services Inc bought a new stake in shares of HighPeak Energy during the second quarter valued at approximately $5,426,000. PDT Partners LLC purchased a new position in shares of HighPeak Energy during the second quarter valued at $3,831,000. Finally, Empowered Funds LLC bought a new position in HighPeak Energy during the 2nd quarter worth about $1,285,000. Institutional investors own 24.13% of the company’s stock.

About HighPeak Energy

HighPeak Energy, Inc (NASDAQ: HPK) is an independent energy company engaged in the acquisition, development and production of oil, natural gas and natural gas liquids. The company focuses primarily on unconventional reserves in the Permian Basin, one of the leading oil-producing regions in the United States.

HighPeak Energy’s operations are concentrated in the Midland Basin of West Texas, particularly in Howard and Borden counties. Its activities include drilling and completing horizontal wells, developing oil and gas acreage, and producing hydrocarbons for sale into regional energy markets.

The company became a publicly traded entity in 2020 through a business combination involving Pure Acquisition Corp.