HighPeak Energy (NASDAQ:HPK) Trading Down 5% – Time to Sell?

HighPeak Energy, Inc. (NASDAQ:HPK)’s share price dropped 5% during trading on Thursday . The company traded as low as $7.04 and last traded at $7.0650. 58,169 shares were traded during trading, a decline of 94% from the average session volume of 922,285 shares. The stock had previously closed at $7.44.

Wall Street Analysts Forecast Growth

HPK has been the topic of several analyst reports. Wall Street Zen raised shares of HighPeak Energy from a “sell” rating to a “hold” rating in a report on Tuesday, June 30th. Weiss Ratings reissued a “sell (d)” rating on shares of HighPeak Energy in a report on Wednesday, June 3rd. Finally, Zacks Research raised HighPeak Energy from a “strong sell” rating to a “hold” rating in a report on Monday, May 25th. 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.com, the stock currently has an average rating of “Hold” and a consensus target price of $12.00.

HighPeak Energy Trading Down 7.2%

The firm has a market cap of $872.52 million, a price-to-earnings ratio of -5.81 and a beta of 0.36. The company has a debt-to-equity ratio of 0.75, a quick ratio of 0.66 and a current ratio of 0.67. The business has a fifty day moving average of $7.15 and a two-hundred day moving average of $6.00.

HighPeak Energy (NASDAQ:HPK) last released its quarterly earnings data on Wednesday, May 6th. The company reported ($0.02) earnings per share for the quarter, meeting the consensus estimate of ($0.02). The firm had revenue of $215.89 million during the quarter, compared to the consensus estimate of $210.14 million. HighPeak Energy had a negative return on equity of 0.73% and a negative net margin of 18.78%.HighPeak Energy’s quarterly revenue was down 20.7% on a year-over-year basis. During the same period last year, the business posted $0.31 EPS. As a group, equities analysts expect that HighPeak Energy, Inc. will post -0.08 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Caitong International Asset Management Co. Ltd purchased a new stake in shares of HighPeak Energy in the 4th quarter worth about $29,000. Stokes Family Office LLC acquired a new position in HighPeak Energy during the fourth quarter worth about $48,000. Raymond James Financial Inc. acquired a new position in HighPeak Energy during the second quarter worth about $49,000. State of Alaska Department of Revenue lifted its holdings in shares of 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 in the last quarter. Finally, The Manufacturers Life Insurance Company purchased a new stake in shares of HighPeak Energy in the fourth quarter valued at about $51,000. Institutional investors and hedge funds own 24.13% of the company’s stock.

About HighPeak Energy

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.