HighPeak Energy (NASDAQ:HPK) Shares Up 7.5% – Here’s What Happened

HighPeak Energy, Inc. (NASDAQ:HPK) shares rose 7.5% during trading on Monday . The company traded as high as $6.66 and last traded at $6.46. Approximately 287,550 shares changed hands during trading, a decline of 72% from the average daily volume of 1,016,507 shares. The stock had previously closed at $6.01.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on HPK. Zacks Research lowered HighPeak Energy from a “hold” rating to a “strong sell” rating in a research note on Monday, February 2nd. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of HighPeak Energy in a research note on Monday, December 29th. One investment analyst has rated the stock with a Strong Buy rating and three have issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Reduce” and an average price target of $11.00.

HighPeak Energy Stock Performance

The company has a quick ratio of 1.10, a current ratio of 1.13 and a debt-to-equity ratio of 0.71. The stock has a market capitalization of $803.90 million, a price-to-earnings ratio of 71.23 and a beta of 0.63. The stock’s 50-day simple moving average is $4.87 and its 200 day simple moving average is $5.80.

HighPeak Energy (NASDAQ:HPK) last posted its quarterly earnings data on Saturday, January 31st. The company reported $0.82 earnings per share for the quarter. HighPeak Energy had a net margin of 2.33% and a return on equity of 2.11%. Analysts expect that HighPeak Energy, Inc. will post 0.78 earnings per share for the current fiscal year.

Hedge Funds Weigh In On HighPeak Energy

A number of institutional investors and hedge funds have recently bought and sold shares of HPK. Caitong International Asset Management Co. Ltd bought a new stake in shares of HighPeak Energy during the fourth quarter worth $29,000. State of Alaska Department of Revenue acquired a new position in HighPeak Energy during the 3rd quarter worth about $31,000. Stokes Family Office LLC acquired a new position in HighPeak Energy during the 4th quarter worth about $48,000. Raymond James Financial Inc. bought a new stake in HighPeak Energy during the 2nd quarter worth about $49,000. Finally, The Manufacturers Life Insurance Company bought a new position in shares of HighPeak Energy in the fourth quarter worth about $51,000. 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.