HighPeak Energy (NASDAQ:HPK) Shares Down 4% – Here’s What Happened

HighPeak Energy, Inc. (NASDAQ:HPK)’s share price was down 4% on Wednesday . The company traded as low as $7.84 and last traded at $7.7960. Approximately 330,158 shares were traded during trading, a decline of 66% from the average daily volume of 984,101 shares. The stock had previously closed at $8.12.

Analyst Upgrades and Downgrades

Several research firms recently commented on HPK. Wall Street Zen upgraded HighPeak Energy from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th. Zacks Research lowered HighPeak Energy from a “hold” rating to a “strong sell” rating in a research report on Friday, April 24th. One analyst has rated the stock with a Strong Buy rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $12.00.

HighPeak Energy Trading Down 3.8%

The company has a market cap of $987.50 million, a PE ratio of -6.57 and a beta of 0.34. The company has a debt-to-equity ratio of 0.75, a current ratio of 0.67 and a quick ratio of 0.66. The company has a 50-day moving average of $6.47 and a 200 day moving average of $5.62.

HighPeak Energy (NASDAQ:HPK) last released its quarterly earnings results on Wednesday, May 6th. The company reported ($0.02) EPS for the quarter, hitting 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 return on equity of 0.73% and a negative net margin of 18.78%.The firm’s revenue was down 20.7% on a year-over-year basis. During the same quarter last year, the business posted $0.31 earnings per share. Analysts predict that HighPeak Energy, Inc. will post -0.34 earnings per share for the current year.

Institutional Trading of HighPeak Energy

Institutional investors have recently added to or reduced their stakes in the company. Caitong International Asset Management Co. Ltd bought a new stake in HighPeak Energy in the fourth quarter worth about $29,000. State of Alaska Department of Revenue bought a new stake in HighPeak Energy in the third quarter worth about $31,000. Stokes Family Office LLC bought a new stake in HighPeak Energy in the fourth quarter worth about $48,000. Raymond James Financial Inc. bought a new stake in HighPeak Energy in the second quarter worth about $49,000. Finally, The Manufacturers Life Insurance Company bought a new stake in HighPeak Energy in the fourth quarter worth 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.