HighPeak Energy (NASDAQ:HPK) Shares Gap Up – What’s Next?

HighPeak Energy, Inc. (NASDAQ:HPK)’s stock price gapped up before the market opened on Wednesday . The stock had previously closed at $6.43, but opened at $6.88. HighPeak Energy shares last traded at $6.6210, with a volume of 30,707 shares traded.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on HPK shares. Wall Street Zen upgraded HighPeak Energy from a “sell” rating to a “hold” rating in a research report on Tuesday, June 30th. Zacks Research raised HighPeak Energy from a “strong sell” rating to a “hold” rating in a research note on Monday, May 25th. Finally, Weiss Ratings reissued 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 assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $12.00.

HighPeak Energy Trading Up 2.9%

The company has a debt-to-equity ratio of 0.75, a current ratio of 0.67 and a quick ratio of 0.66. The firm has a market cap of $836.25 million, a PE ratio of -5.55 and a beta of 0.36. The company’s 50 day moving average price is $7.33 and its 200 day moving average price is $6.28.

HighPeak Energy (NASDAQ:HPK) last announced its earnings results on Wednesday, May 6th. The company reported ($0.02) earnings per share for the quarter, hitting the consensus estimate of ($0.02). The firm 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 revenue for the quarter was down 20.7% on a year-over-year basis. During the same period in the prior year, the firm earned $0.31 EPS. As a group, analysts forecast that HighPeak Energy, Inc. will post -0.08 EPS for the current fiscal year.

Hedge Funds Weigh In On HighPeak Energy

Several institutional investors have recently modified their holdings of the business. Caitong International Asset Management Co. Ltd purchased a new stake in shares of HighPeak Energy during the fourth quarter worth $29,000. Stokes Family Office LLC purchased a new position in HighPeak Energy in the fourth quarter valued at $48,000. Raymond James Financial Inc. purchased a new position in HighPeak Energy in the second quarter valued at $49,000. State of Alaska Department of Revenue boosted its holdings in HighPeak Energy by 135.5% in the fourth quarter. State of Alaska Department of Revenue now owns 10,624 shares of the company’s stock valued at $50,000 after purchasing an additional 6,112 shares during the period. Finally, The Manufacturers Life Insurance Company acquired a new position in HighPeak Energy during the 4th quarter worth $51,000. 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.