HighPeak Energy (NASDAQ:HPK) Shares Down 5.9% – Here’s What Happened

Shares of HighPeak Energy, Inc. (NASDAQ:HPK) fell 5.9% on Tuesday . The stock traded as low as $7.35 and last traded at $7.39. 192,725 shares changed hands during mid-day trading, a decline of 80% from the average session volume of 979,379 shares. The stock had previously closed at $7.85.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the company. Wall Street Zen upgraded HighPeak Energy from a “sell” rating to a “hold” rating in a report on Saturday, May 9th. Zacks Research upgraded HighPeak Energy from a “strong sell” rating to a “hold” rating in a report on Monday. One research analyst has rated the stock with a Strong Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $12.00.

HighPeak Energy Stock Up 2.0%

The business has a 50-day simple moving average of $6.66 and a two-hundred day simple moving average of $5.67. The company has a debt-to-equity ratio of 0.75, a current ratio of 0.67 and a quick ratio of 0.66.

HighPeak Energy (NASDAQ:HPK) last issued its quarterly earnings data on Wednesday, May 6th. The company reported ($0.02) EPS for the quarter, meeting analysts’ consensus estimates of ($0.02). The business had revenue of $215.89 million for the quarter, compared to analyst estimates of $210.14 million. HighPeak Energy had a negative return on equity of 0.73% and a negative net margin of 18.78%.The firm’s revenue for the quarter was down 20.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.31 EPS. As a group, analysts predict that HighPeak Energy, Inc. will post -0.14 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of HPK. Strs Ohio acquired a new stake in shares of HighPeak Energy in the first quarter valued at about $60,000. Raymond James Financial Inc. acquired a new position in shares of HighPeak Energy during the 2nd quarter worth about $49,000. Caitong International Asset Management Co. Ltd bought a new stake in HighPeak Energy during the 4th quarter valued at approximately $29,000. Kestra Advisory Services LLC acquired a new stake in HighPeak Energy in the 1st quarter valued at approximately $70,000. Finally, Stokes Family Office LLC bought a new position in HighPeak Energy in the 4th quarter worth approximately $48,000. 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.