HighPeak Energy (NASDAQ:HPK) Stock Price Up 6.1% – Time to Buy?

Shares of HighPeak Energy, Inc. (NASDAQ:HPK) shot up 6.1% during mid-day trading on Tuesday . The stock traded as high as $6.38 and last traded at $6.3350. 109,362 shares changed hands during trading, a decline of 89% from the average session volume of 981,493 shares. The stock had previously closed at $5.97.

Analyst Ratings Changes

HPK has been the subject of several research analyst reports. Zacks Research cut HighPeak Energy from a “hold” rating to a “strong sell” rating in a research note on Friday, April 24th. Wall Street Zen raised shares of HighPeak Energy from a “sell” rating to a “hold” rating in a report on Saturday, May 9th. One research analyst has rated the stock with a Strong Buy rating and two have given a Sell rating to the stock. According to data from MarketBeat, HighPeak Energy currently has a consensus rating of “Hold” and a consensus price target of $12.00.

HighPeak Energy Trading Up 1.5%

The company has a market cap of $857.97 million, a P/E ratio of -5.71 and a beta of 0.34. The business has a fifty day simple moving average of $6.32 and a 200 day simple moving average of $5.60. The company has a debt-to-equity ratio of 0.75, a quick ratio of 0.66 and a current ratio of 0.67.

HighPeak Energy (NASDAQ:HPK) last released its earnings results on Wednesday, May 6th. The company reported ($0.02) earnings per share for the quarter, meeting the consensus estimate of ($0.02). The firm had revenue of $215.89 million during the quarter, compared to analyst estimates of $210.14 million. HighPeak Energy had a negative net margin of 18.78% and a negative return on equity of 0.73%. The firm’s revenue for the quarter was down 20.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.31 earnings per share. Analysts anticipate that HighPeak Energy, Inc. will post -0.34 earnings per share for the current fiscal year.

Institutional Investors Weigh In On HighPeak Energy

Institutional investors and hedge funds have recently bought and sold shares of the business. Empowered Funds LLC lifted its holdings in HighPeak Energy by 1.9% in the first quarter. Empowered Funds LLC now owns 186,174 shares of the company’s stock worth $2,357,000 after acquiring an additional 3,431 shares during the last quarter. Jane Street Group LLC grew its holdings in shares of HighPeak Energy by 79.6% during the first quarter. Jane Street Group LLC now owns 20,368 shares of the company’s stock valued at $258,000 after purchasing an additional 9,029 shares during the last quarter. Strs Ohio acquired a new stake in shares of HighPeak Energy during the 1st quarter worth approximately $60,000. Geode Capital Management LLC lifted its holdings in shares of HighPeak Energy by 12.4% in the 2nd quarter. Geode Capital Management LLC now owns 640,028 shares of the company’s stock worth $6,273,000 after purchasing an additional 70,590 shares during the last quarter. Finally, Creative Planning bought a new stake in shares of HighPeak Energy in the 2nd quarter worth approximately $225,000. Institutional investors and hedge funds own 24.13% of the company’s stock.

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.