HighPeak Energy (NASDAQ:HPK) Stock Price Down 8.9% – What’s Next?

HighPeak Energy, Inc. (NASDAQ:HPK)’s stock price traded down 8.9% on Wednesday . The company traded as low as $6.62 and last traded at $6.54. 43,266 shares were traded during mid-day trading, a decline of 95% from the average daily volume of 944,256 shares. The stock had previously closed at $7.18.

Analyst Ratings Changes

HPK has been the subject of several research reports. Zacks Research upgraded shares of HighPeak Energy from a “strong sell” rating to a “hold” rating in a research note on Monday, May 25th. Weiss Ratings reissued a “sell (d)” rating on shares of HighPeak Energy in a research note on Wednesday, June 3rd. Finally, Wall Street Zen cut shares of HighPeak Energy from a “hold” rating to a “sell” rating in a report on Monday. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $12.00.

HighPeak Energy Stock Down 8.6%

The firm has a market capitalization of $829.16 million, a P/E ratio of -5.53 and a beta of 0.35. The company has a fifty day simple moving average of $6.97 and a 200 day simple moving average of $5.87. The company has a quick ratio of 0.66, a current ratio of 0.67 and a debt-to-equity ratio of 0.75.

HighPeak Energy (NASDAQ:HPK) last issued its quarterly 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 the consensus estimate of $210.14 million. HighPeak Energy had a negative return on equity of 0.73% and a negative net margin of 18.78%.The company’s revenue was down 20.7% on a year-over-year basis. During the same period last year, the company earned $0.31 earnings per share. On average, equities analysts expect that HighPeak Energy, Inc. will post -0.14 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of HPK. Caitong International Asset Management Co. Ltd purchased a new stake in shares of HighPeak Energy during the fourth quarter valued at approximately $29,000. Stokes Family Office LLC bought a new position in HighPeak Energy in the 4th quarter valued at approximately $48,000. Raymond James Financial Inc. purchased a new stake in HighPeak Energy during the 2nd quarter valued at $49,000. State of Alaska Department of Revenue increased its holdings in shares of HighPeak Energy by 135.5% in the 4th quarter. State of Alaska Department of Revenue now owns 10,624 shares of the company’s stock worth $50,000 after purchasing an additional 6,112 shares in the last quarter. Finally, The Manufacturers Life Insurance Company purchased a new position in shares of HighPeak Energy in the fourth quarter worth $51,000. 24.13% of the stock is owned by hedge funds and other institutional investors.

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.