HighPeak Energy (NASDAQ:HPK) Stock Jumps 4.1% – What’s Next?

Shares of HighPeak Energy, Inc. (NASDAQ:HPK) shot up 4.1% during mid-day trading on Tuesday. The company traded as high as $10.06 and last traded at $10.1120. Approximately 126,191 shares traded hands during trading, a decline of 84% from the average session volume of 774,140 shares. The stock had previously closed at $9.71.

Wall Street Analysts Forecast Growth

HPK has been the subject of several analyst reports. Wall Street Zen upgraded HighPeak Energy from a “sell” rating to a “hold” rating in a report on Sunday, August 16th. Weiss Ratings restated a “sell (d)” rating on shares of HighPeak Energy in a research note on Monday, August 31st. One analyst has rated the stock with a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Reduce”.

HighPeak Energy Trading Down 2.0%

The company has a debt-to-equity ratio of 0.69, a current ratio of 0.87 and a quick ratio of 0.85. The stock has a market cap of $1.25 billion, a price-to-earnings ratio of -12.54 and a beta of 0.36. The company’s fifty day moving average price is $8.15 and its 200-day moving average price is $7.39.

HighPeak Energy (NASDAQ:HPK) last announced its quarterly earnings data on Monday, August 10th. The company reported $0.59 EPS for the quarter, beating the consensus estimate of $0.02 by $0.57. The firm had revenue of $272.42 million during the quarter, compared to analyst estimates of $240.03 million. HighPeak Energy had a negative net margin of 10.52% and a negative return on equity of 1.44%. HighPeak Energy’s revenue was up 25.8% on a year-over-year basis. During the same period last year, the firm posted $0.10 EPS. On average, research analysts expect that HighPeak Energy, Inc. will post 0.15 EPS for the current fiscal year.

Institutional Investors Weigh In On HighPeak Energy

Several institutional investors and hedge funds have recently made changes to their positions in HPK. Allworth Financial LP lifted its holdings in shares of HighPeak Energy by 135.3% during the second quarter. Allworth Financial LP now owns 5,226 shares of the company’s stock worth $37,000 after purchasing an additional 3,005 shares during the period. Caitong International Asset Management Co. Ltd acquired a new position in HighPeak Energy in the 4th quarter worth approximately $29,000. Integrated Wealth Concepts LLC acquired a new position in HighPeak Energy in the 2nd quarter worth approximately $45,000. Kestra Advisory Services LLC acquired a new position in HighPeak Energy in the 1st quarter worth approximately $70,000. Finally, Sequoia Financial Advisors LLC purchased a new position in HighPeak Energy during the 2nd quarter worth approximately $73,000. 24.13% of the stock is currently owned by institutional investors and hedge funds.

HighPeak Energy Company Profile

HighPeak Energy, Inc (NASDAQ: HPK) is an independent oil and natural gas company focused on the acquisition, development and production of unconventional oil and gas reserves in the Midland Basin of the Permian Basin in West Texas.

The company’s operations are concentrated primarily in Howard and Borden counties, where it develops horizontal wells and produces crude oil, natural gas liquids and natural gas. HighPeak Energy’s activities include leasing acreage, drilling and completing wells, operating production facilities, and managing related gathering and infrastructure arrangements.

HighPeak Energy was established through a business combination involving Pure Acquisition Corp.