HighPeak Energy (NASDAQ:HPK) Shares Climb 6.1% – Time to Buy?

HighPeak Energy, Inc. (NASDAQ:HPK)’s stock price traded up 6.1% during trading on Monday. The stock traded as high as $11.11 and last traded at $11.1890. Approximately 205,003 shares changed hands during mid-day trading, a decline of 74% from the average session volume of 776,865 shares. The stock had previously closed at $10.55.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on HPK shares. Wall Street Zen raised shares of HighPeak Energy from a “sell” rating to a “hold” rating in a research report on Sunday, August 16th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of HighPeak Energy in a report on Monday, August 31st. One equities research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, HighPeak Energy currently has an average rating of “Reduce”.

HighPeak Energy Stock Down 3.5%

The company has a market cap of $1.39 billion, a price-to-earnings ratio of -13.91 and a beta of 0.36. 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 firm has a 50-day moving average price of $8.40 and a 200 day moving average price of $7.50.

HighPeak Energy (NASDAQ:HPK) last released its quarterly earnings results on Monday, August 10th. The company reported $0.59 earnings per share for the quarter, topping the consensus estimate of $0.02 by $0.57. The business had revenue of $272.42 million during the quarter, compared to analysts’ expectations of $240.03 million. HighPeak Energy had a negative return on equity of 1.44% and a negative net margin of 10.52%. The firm’s revenue for the quarter was up 25.8% compared to the same quarter last year. During the same period last year, the firm posted $0.10 EPS. Sell-side analysts predict that HighPeak Energy, Inc. will post 0.15 EPS for the current year.

Institutional Investors Weigh In On HighPeak Energy

A number of hedge funds and other institutional investors have recently modified their holdings of HPK. Allworth Financial LP increased its position in 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 acquiring an additional 3,005 shares during the period. State of Alaska Department of Revenue boosted its holdings in HighPeak Energy by 18.7% in the 3rd quarter. State of Alaska Department of Revenue now owns 25,660 shares of the company’s stock valued at $208,000 after purchasing an additional 4,036 shares during the period. Caitong International Asset Management Co. Ltd bought a new stake in HighPeak Energy in the 4th quarter valued at about $29,000. Integrated Wealth Concepts LLC bought a new stake in HighPeak Energy in the 2nd quarter valued at about $45,000. Finally, Kestra Advisory Services LLC bought a new stake in HighPeak Energy in the 1st quarter valued at about $70,000. Institutional investors and hedge funds own 24.13% of the company’s stock.

About HighPeak Energy

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.