HighPeak Energy (NASDAQ:HPK) Stock Falls 5.1% – Here’s What Happened

HighPeak Energy, Inc. (NASDAQ:HPK) shares fell 5.1% during trading on Tuesday. The stock traded as low as $10.78 and last traded at $10.8080. 289,597 shares traded hands during trading, a decline of 63% from the average daily volume of 775,188 shares. The stock had previously closed at $11.39.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. Weiss Ratings reiterated a “sell (d)” rating on shares of HighPeak Energy in a research report on Monday, August 31st. Wall Street Zen raised shares of HighPeak Energy from a “sell” rating to a “hold” rating in a report on Sunday, August 16th. One equities research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Reduce”.

HighPeak Energy Price Performance

The company’s 50 day simple moving average is $8.71 and its 200 day simple moving average is $6.93. The company has a current ratio of 0.87, a quick ratio of 0.85 and a debt-to-equity ratio of 0.69. The stock has a market capitalization of $1.36 billion, a PE ratio of -13.63 and a beta of 0.36.

HighPeak Energy (NASDAQ:HPK) last posted its earnings results on Monday, August 10th. The company reported $0.59 earnings per share (EPS) for the quarter, topping 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 prior year, the company earned $0.10 EPS. The company’s revenue was up 25.8% on a year-over-year basis. On average, equities analysts anticipate that HighPeak Energy, Inc. will post 0.15 earnings per share for the current year.

Institutional Investors Weigh In On HighPeak Energy

A number of hedge funds and other institutional investors have recently modified their holdings of HPK. Allworth Financial LP lifted its holdings in shares of HighPeak Energy by 135.3% in the second quarter. Allworth Financial LP now owns 5,226 shares of the company’s stock valued at $37,000 after buying an additional 3,005 shares during the period. State of Alaska Department of Revenue raised its position in shares of HighPeak Energy by 18.7% during the third quarter. State of Alaska Department of Revenue now owns 25,660 shares of the company’s stock worth $208,000 after purchasing an additional 4,036 shares during the period. Integrated Wealth Concepts LLC acquired a new position in shares of HighPeak Energy in the 2nd quarter valued at $45,000. Kestra Advisory Services LLC purchased a new position in HighPeak Energy in the 1st quarter worth about $70,000. Finally, Sequoia Financial Advisors LLC purchased a new stake in shares of HighPeak Energy in the 2nd quarter valued at approximately $73,000. 24.13% of the stock is currently owned by institutional investors.

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.