HighPeak Energy (NASDAQ:HPK) Trading 10% Higher – Here’s What Happened

HighPeak Energy, Inc. (NASDAQ:HPK) was up 10% during trading on Wednesday . The stock traded as high as $5.06 and last traded at $5.1150. Approximately 462,302 shares changed hands during mid-day trading, a decline of 47% from the average daily volume of 868,156 shares. The stock had previously closed at $4.65.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on HPK. Zacks Research downgraded HighPeak Energy from a “hold” rating to a “strong sell” rating in a report on Monday, February 2nd. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of HighPeak Energy in a research report on Monday, December 29th. Finally, Wall Street Zen downgraded HighPeak Energy from a “hold” rating to a “sell” rating in a report on Sunday, October 26th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Reduce” and an average target price of $11.67.

HighPeak Energy Stock Performance

The firm has a market capitalization of $660.60 million, a price-to-earnings ratio of 14.61 and a beta of 0.64. The company has a 50-day moving average of $4.66 and a 200-day moving average of $6.28. The company has a current ratio of 1.65, a quick ratio of 1.58 and a debt-to-equity ratio of 0.71.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. State of Alaska Department of Revenue acquired a new stake in HighPeak Energy in the 3rd quarter valued at approximately $31,000. Raymond James Financial Inc. bought a new position in shares of HighPeak Energy in the second quarter worth $49,000. Strs Ohio acquired a new position in shares of HighPeak Energy during the first quarter valued at $60,000. Brevan Howard Capital Management LP acquired a new position in shares of HighPeak Energy during the third quarter valued at $79,000. Finally, WINTON GROUP Ltd bought a new stake in shares of HighPeak Energy during the third quarter valued at about $102,000. Institutional investors 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.