HighPeak Energy (NASDAQ:HPK) Trading Down 5.3% – Time to Sell?

HighPeak Energy, Inc. (NASDAQ:HPK)’s share price fell 5.3% during mid-day trading on Friday . The company traded as low as $5.24 and last traded at $5.2740. 283,709 shares changed hands during trading, a decline of 68% from the average session volume of 896,925 shares. The stock had previously closed at $5.57.

Wall Street Analysts Forecast Growth

A number of research firms have commented on HPK. Zacks Research cut shares of HighPeak Energy from a “hold” rating to a “strong sell” rating in a report on Monday, February 2nd. Weiss Ratings restated a “sell (d+)” rating on shares of HighPeak Energy in a research note on Monday, December 29th. Finally, Wall Street Zen lowered HighPeak Energy from a “hold” rating to a “sell” rating in a research report on Sunday, October 26th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, HighPeak Energy currently has an average rating of “Reduce” and an average target price of $11.67.

HighPeak Energy Price Performance

The stock has a market capitalization of $665.63 million, a P/E ratio of 14.72 and a beta of 0.64. The business’s 50 day simple moving average is $4.58 and its two-hundred day simple moving average is $6.09. The company has a quick ratio of 1.58, a current ratio of 1.65 and a debt-to-equity ratio of 0.71.

Hedge Funds Weigh In On HighPeak Energy

A number of hedge funds have recently added to or reduced their stakes in the stock. State of Alaska Department of Revenue purchased a new stake in shares of HighPeak Energy in the third quarter worth approximately $31,000. Stokes Family Office LLC bought a new stake in HighPeak Energy during the fourth quarter worth $48,000. Raymond James Financial Inc. purchased a new stake in HighPeak Energy in the 2nd quarter valued at $49,000. The Manufacturers Life Insurance Company bought a new position in HighPeak Energy during the 4th quarter valued at $51,000. Finally, Strs Ohio bought a new position in HighPeak Energy during the 1st quarter valued at $60,000. 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.