HighPeak Energy (NASDAQ:HPK) Stock Price Up 6.6% – What’s Next?

HighPeak Energy, Inc. (NASDAQ:HPK) shares shot up 6.6% during trading on Tuesday . The company traded as high as $7.98 and last traded at $8.0390. 578,672 shares changed hands during trading, a decline of 41% from the average session volume of 984,177 shares. The stock had previously closed at $7.54.

Analysts Set New Price Targets

A number of research firms recently commented on HPK. Wall Street Zen raised HighPeak Energy from a “sell” rating to a “hold” rating in a research note on Saturday, May 9th. Zacks Research lowered HighPeak Energy from a “hold” rating to a “strong sell” rating in a research note on Friday, April 24th. One investment analyst has rated the stock with a Strong Buy rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, HighPeak Energy currently has an average rating of “Hold” and an average target price of $12.00.

HighPeak Energy Trading Up 7.4%

The business has a 50 day simple moving average of $6.42 and a 200-day simple moving average of $5.61. The company has a current ratio of 0.67, a quick ratio of 0.66 and a debt-to-equity ratio of 0.75. The stock has a market capitalization of $1.02 billion, a price-to-earnings ratio of -6.80 and a beta of 0.34.

HighPeak Energy (NASDAQ:HPK) last issued its quarterly earnings results on Wednesday, May 6th. The company reported ($0.02) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.02). HighPeak Energy had a negative return on equity of 0.73% and a negative net margin of 18.78%.The firm had revenue of $215.89 million for the quarter, compared to analyst estimates of $210.14 million. During the same period last year, the company earned $0.31 EPS. The firm’s quarterly revenue was down 20.7% on a year-over-year basis. On average, equities analysts predict that HighPeak Energy, Inc. will post -0.34 earnings per share for the current year.

Institutional Trading of HighPeak Energy

A number of hedge funds have recently added to or reduced their stakes in HPK. Texas Capital Bank Wealth Management Services Inc acquired a new stake in HighPeak Energy in the 4th quarter worth about $2,257,000. Renaissance Technologies LLC acquired a new stake in HighPeak Energy in the 4th quarter worth about $576,000. Hussman Strategic Advisors Inc. acquired a new stake in HighPeak Energy in the 3rd quarter worth about $742,000. Bank of America Corp DE boosted its stake in HighPeak Energy by 831.1% in the 3rd quarter. Bank of America Corp DE now owns 108,047 shares of the company’s stock worth $764,000 after buying an additional 96,443 shares during the last quarter. Finally, Vanguard Group Inc. boosted its stake in HighPeak Energy by 3.7% in the 3rd quarter. Vanguard Group Inc. now owns 2,666,153 shares of the company’s stock worth $18,850,000 after buying an additional 94,834 shares during the last quarter. 24.13% of the stock is owned by institutional investors and hedge funds.

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.