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

HighPeak Energy, Inc. (NASDAQ:HPK) gapped down prior to trading on Monday . The stock had previously closed at $7.65, but opened at $7.34. HighPeak Energy shares last traded at $7.27, with a volume of 22,052 shares.

Wall Street Analysts Forecast Growth

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

HighPeak Energy Stock Performance

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 firm has a 50 day moving average price of $7.33 and a 200 day moving average price of $6.28. The stock has a market cap of $812.49 million, a PE ratio of -5.40 and a beta of 0.36.

HighPeak Energy (NASDAQ:HPK) last released its quarterly earnings data on Wednesday, May 6th. The company reported ($0.02) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.02). HighPeak Energy had a negative net margin of 18.78% and a negative return on equity of 0.73%. The company had revenue of $215.89 million during the quarter, compared to analyst estimates of $210.14 million. During the same period in the prior year, the firm earned $0.31 earnings per share. The firm’s revenue for the quarter was down 20.7% compared to the same quarter last year. As a group, research analysts forecast that HighPeak Energy, Inc. will post -0.08 earnings per share for the current year.

Institutional Investors Weigh In On HighPeak Energy

Hedge funds have recently modified their holdings of the business. Empowered Funds LLC boosted its stake in shares of HighPeak Energy by 1.9% during the first 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 in the last quarter. Alliancebernstein L.P. lifted its holdings in HighPeak Energy by 8.1% during the third quarter. Alliancebernstein L.P. now owns 46,540 shares of the company’s stock worth $329,000 after buying an additional 3,500 shares during the period. Strs Ohio purchased a new stake in HighPeak Energy during the first quarter worth $60,000. Intech Investment Management LLC boosted its position in HighPeak Energy by 46.4% during the 3rd quarter. Intech Investment Management LLC now owns 15,251 shares of the company’s stock valued at $108,000 after acquiring an additional 4,831 shares in the last quarter. Finally, Rhumbline Advisers boosted its position in HighPeak Energy by 23.6% during the 2nd quarter. Rhumbline Advisers now owns 25,483 shares of the company’s stock valued at $250,000 after acquiring an additional 4,864 shares in the last quarter. Hedge funds and other institutional investors 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.