HighPeak Energy (NASDAQ:HPK) Shares Down 4.3% – Here’s What Happened

HighPeak Energy, Inc. (NASDAQ:HPK)’s stock price fell 4.3% during trading on Tuesday . The stock traded as low as $7.61 and last traded at $7.5020. 20,658 shares changed hands during mid-day trading, a decline of 98% from the average session volume of 960,451 shares. The stock had previously closed at $7.84.

Wall Street Analyst Weigh In

Several brokerages have recently commented on HPK. Zacks Research upgraded shares of HighPeak Energy from a “strong sell” rating to a “hold” rating in a research note on Monday, May 25th. Weiss Ratings restated a “sell (d)” rating on shares of HighPeak Energy in a research note on Wednesday, June 3rd. Finally, Wall Street Zen downgraded shares of HighPeak Energy from a “hold” rating to a “sell” rating in a research note on Saturday. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $12.00.

HighPeak Energy Trading Down 6.4%

The company’s 50-day moving average is $6.81 and its 200-day moving average is $5.78. The firm has a market cap of $926.85 million, a price-to-earnings ratio of -6.17 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.

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, hitting the consensus estimate of ($0.02). The business had revenue of $215.89 million for the quarter, compared to the consensus estimate of $210.14 million. HighPeak Energy had a negative net margin of 18.78% and a negative return on equity of 0.73%. The firm’s quarterly revenue was down 20.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.31 EPS. On average, research analysts predict that HighPeak Energy, Inc. will post -0.14 earnings per share for the current year.

Hedge Funds Weigh In On HighPeak Energy

Large investors have recently made changes to their positions in the company. Strs Ohio acquired a new position in shares of HighPeak Energy during the first quarter valued at $60,000. Raymond James Financial Inc. acquired a new position in HighPeak Energy during the 2nd quarter valued at about $49,000. Caitong International Asset Management Co. Ltd acquired a new position in HighPeak Energy during the 4th quarter valued at about $29,000. Kestra Advisory Services LLC acquired a new position in HighPeak Energy during the 1st quarter valued at about $70,000. Finally, Stokes Family Office LLC acquired a new position in HighPeak Energy during the 4th quarter valued at about $48,000. Institutional investors and hedge funds own 24.13% of the company’s stock.

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.