HighPeak Energy (NASDAQ:HPK) Trading 6.2% Higher – Should You Buy?

HighPeak Energy, Inc. (NASDAQ:HPK) shot up 6.2% during trading on Wednesday . The company traded as high as $8.12 and last traded at $8.2020. 81,676 shares were traded during trading, a decline of 91% from the average daily volume of 887,987 shares. The stock had previously closed at $7.72.

Wall Street Analysts Forecast Growth

HPK has been the topic of several research analyst reports. Wall Street Zen upgraded HighPeak Energy from a “sell” rating to a “hold” rating in a report on Tuesday, June 30th. Zacks Research upgraded shares of HighPeak Energy from a “strong sell” rating to a “hold” rating in a research report on Monday, May 25th. Finally, Weiss Ratings restated a “sell (d)” rating on shares of HighPeak Energy in a research report on Wednesday, June 3rd. One investment analyst has rated the stock with a Strong Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $12.00.

HighPeak Energy Price Performance

The company has a market capitalization of $1.01 billion, a price-to-earnings ratio of -6.75 and a beta of 0.36. The company has a 50-day moving average price of $7.37 and a 200-day moving average price of $6.23. The company has a debt-to-equity ratio of 0.75, a quick ratio of 0.66 and a current ratio of 0.67.

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

Institutional Trading of HighPeak Energy

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Caitong International Asset Management Co. Ltd bought a new position in shares of HighPeak Energy in the fourth quarter valued at $29,000. Stokes Family Office LLC acquired a new position in HighPeak Energy during the fourth quarter worth $48,000. Raymond James Financial Inc. bought a new position in shares of HighPeak Energy in the 2nd quarter valued at about $49,000. State of Alaska Department of Revenue grew its position in shares of HighPeak Energy by 135.5% in the 4th quarter. State of Alaska Department of Revenue now owns 10,624 shares of the company’s stock valued at $50,000 after acquiring an additional 6,112 shares during the period. Finally, The Manufacturers Life Insurance Company bought a new position in shares of HighPeak Energy in the 4th quarter valued at about $51,000. Institutional investors 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.