HighPeak Energy (NASDAQ:HPK) Shares Gap Up – Here’s What Happened

Shares of HighPeak Energy, Inc. (NASDAQ:HPK) gapped up before the market opened on Thursday . The stock had previously closed at $6.30, but opened at $7.00. HighPeak Energy shares last traded at $7.1250, with a volume of 226,048 shares.

Analysts Set New Price Targets

Several equities analysts have commented on the company. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of HighPeak Energy in a report on Monday, December 29th. Zacks Research raised HighPeak Energy from a “strong sell” rating to a “hold” rating in a report on Tuesday, March 17th. 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 company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $11.00.

HighPeak Energy Trading Up 8.6%

The business’s 50 day moving average price is $5.48 and its 200-day moving average price is $5.75. The company has a market cap of $864.29 million, a price-to-earnings ratio of 76.13 and a beta of 0.60. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.10 and a current ratio of 1.13.

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

Institutional Investors Weigh In On HighPeak Energy

Several large investors have recently modified their holdings of the stock. 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 buying an additional 3,431 shares in the last quarter. Alliancebernstein L.P. grew its position in HighPeak Energy by 8.1% in the third quarter. Alliancebernstein L.P. now owns 46,540 shares of the company’s stock valued at $329,000 after acquiring an additional 3,500 shares during the period. State of Alaska Department of Revenue acquired a new position in HighPeak Energy during the third quarter worth $31,000. Voya Investment Management LLC raised its stake in HighPeak Energy by 2.3% during the third quarter. Voya Investment Management LLC now owns 199,963 shares of the company’s stock worth $1,414,000 after acquiring an additional 4,559 shares in the last quarter. Finally, Strs Ohio bought a new position in shares of HighPeak Energy during the first quarter valued at $60,000. 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.