HighPeak Energy (NASDAQ:HPK) Shares Gap Up to $14.34

Shares of HighPeak Energy, Inc. (NASDAQ:HPK) gapped up before the market opened on Thursday . The stock had previously closed at $14.34, but opened at $15.20. HighPeak Energy shares last traded at $15.19, with a volume of 68,025 shares trading hands.

Analyst Ratings Changes

Separately, Truist Financial reduced their target price on shares of HighPeak Energy from $11.00 to $10.00 and set a “sell” rating for the company in a report on Friday, April 5th.

HighPeak Energy Trading Up 7.9 %

The company has a market capitalization of $1.99 billion, a PE ratio of 9.81 and a beta of 0.67. The company has a quick ratio of 1.12, a current ratio of 1.14 and a debt-to-equity ratio of 0.66. The stock’s 50 day moving average is $15.36 and its two-hundred day moving average is $15.18.

HighPeak Energy (NASDAQ:HPK) last posted its quarterly earnings data on Wednesday, May 8th. The company reported $0.37 EPS for the quarter, missing the consensus estimate of $0.39 by ($0.02). The firm had revenue of $287.80 million for the quarter, compared to the consensus estimate of $284.38 million. HighPeak Energy had a return on equity of 17.70% and a net margin of 19.42%. The company’s revenue was up 28.6% compared to the same quarter last year. During the same quarter last year, the firm earned $0.39 EPS. As a group, sell-side analysts predict that HighPeak Energy, Inc. will post 1.74 EPS for the current fiscal year.

Hedge Funds Weigh In On HighPeak Energy

Hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. increased its stake in shares of HighPeak Energy by 850.3% in the third quarter. Vanguard Group Inc. now owns 2,297,335 shares of the company’s stock worth $38,779,000 after acquiring an additional 2,055,576 shares during the period. Kennedy Capital Management LLC purchased a new stake in HighPeak Energy in the third quarter valued at $10,396,000. Wasatch Advisors LP grew its position in HighPeak Energy by 15.6% during the 1st quarter. Wasatch Advisors LP now owns 521,150 shares of the company’s stock worth $8,219,000 after purchasing an additional 70,385 shares during the period. Intrinsic Edge Capital Management LLC purchased a new position in shares of HighPeak Energy during the 4th quarter valued at about $3,636,000. Finally, Bank of New York Mellon Corp lifted its holdings in shares of HighPeak Energy by 6.1% in the 3rd quarter. Bank of New York Mellon Corp now owns 227,838 shares of the company’s stock valued at $3,846,000 after buying an additional 13,175 shares during the period. 24.13% of the stock is owned by institutional investors and hedge funds.

HighPeak Energy Company Profile

HighPeak Energy, Inc, an independent oil and natural gas company, engages in the exploration, development, and production of crude oil, natural gas, and natural gas liquids reserves in the Permian Basin in West Texas and Eastern New Mexico. The company was incorporated in 2019 and is headquartered in Fort Worth, Texas.