HighPeak Energy (NASDAQ:HPK) Stock Price Up 6.6% – Here’s Why

HighPeak Energy, Inc. (NASDAQ:HPK) shares were up 6.6% during trading on Tuesday . The stock traded as high as $6.91 and last traded at $6.8750. Approximately 104,805 shares were traded during trading, a decline of 90% from the average daily volume of 1,033,733 shares. The stock had previously closed at $6.45.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on HPK. Zacks Research upgraded HighPeak Energy from a “strong sell” rating to a “hold” rating in a report on Tuesday, March 17th. Weiss Ratings restated a “sell (d+)” rating on shares of HighPeak Energy in a research note on Monday, December 29th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $11.00.

HighPeak Energy Stock Down 5.1%

The company has a current ratio of 1.13, a quick ratio of 1.10 and a debt-to-equity ratio of 0.71. The stock’s fifty day simple moving average is $5.23 and its 200-day simple moving average is $5.76. The stock has a market capitalization of $822.61 million, a PE ratio of 72.79 and a beta of 0.64.

HighPeak Energy (NASDAQ:HPK) last released its earnings results on Saturday, January 31st. The company reported $0.82 earnings per share (EPS) for the quarter. HighPeak Energy had a return on equity of 2.11% and a net margin of 2.33%. As a group, sell-side analysts forecast that HighPeak Energy, Inc. will post 0.78 EPS for the current fiscal year.

Institutional Investors Weigh In On HighPeak Energy

Hedge funds have recently made changes to their positions in the business. Empowered Funds LLC raised its holdings in shares of HighPeak Energy by 1.9% in the 1st quarter. Empowered Funds LLC now owns 186,174 shares of the company’s stock worth $2,357,000 after purchasing an additional 3,431 shares during the period. Jane Street Group LLC grew its holdings in HighPeak Energy by 79.6% during the first quarter. Jane Street Group LLC now owns 20,368 shares of the company’s stock valued at $258,000 after purchasing an additional 9,029 shares during the period. Strs Ohio purchased a new stake in HighPeak Energy in the first quarter worth $60,000. Geode Capital Management LLC increased its position in HighPeak Energy by 12.4% in the second quarter. Geode Capital Management LLC now owns 640,028 shares of the company’s stock worth $6,273,000 after buying an additional 70,590 shares during the last quarter. Finally, Creative Planning bought a new stake in shares of HighPeak Energy in the second quarter valued at $225,000. 24.13% of the stock is currently owned by institutional investors.

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.