HighPeak Energy (NASDAQ:HPK) Shares Gap Up – Should You Buy?

HighPeak Energy, Inc. (NASDAQ:HPK)’s share price gapped up before the market opened on Wednesday . The stock had previously closed at $6.62, but opened at $6.90. HighPeak Energy shares last traded at $7.0990, with a volume of 84,994 shares.

Analyst Ratings Changes

A number of equities research analysts recently commented on the stock. Weiss Ratings restated a “sell (d)” rating on shares of HighPeak Energy in a research report on Wednesday, June 3rd. Zacks Research raised HighPeak Energy from a “strong sell” rating to a “hold” rating in a report on Monday, May 25th. Finally, Wall Street Zen raised HighPeak Energy from a “sell” rating to a “hold” rating in a report on Tuesday, June 30th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, HighPeak Energy presently has an average rating of “Hold” and a consensus price target of $12.00.

HighPeak Energy Trading Up 13.1%

The company has a quick ratio of 0.66, a current ratio of 0.67 and a debt-to-equity ratio of 0.75. The business’s fifty day moving average is $7.13 and its 200 day moving average is $5.98. The stock has a market cap of $946.44 million, a PE ratio of -6.27 and a beta of 0.36.

HighPeak Energy (NASDAQ:HPK) last issued its earnings results on Wednesday, May 6th. The company reported ($0.02) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.02). The company had revenue of $215.89 million during the quarter, compared to analysts’ expectations 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 quarterly revenue was down 20.7% compared to the same quarter last year. During the same period last year, the company posted $0.31 earnings per share. As a group, analysts predict that HighPeak Energy, Inc. will post -0.08 earnings per share for the current year.

Hedge Funds Weigh In On HighPeak Energy

Hedge funds and other institutional investors have recently bought and sold shares of the company. Empowered Funds LLC grew 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 valued at $2,357,000 after purchasing an additional 3,431 shares during the last quarter. Alliancebernstein L.P. boosted its position in shares of HighPeak Energy by 8.1% in the 3rd quarter. Alliancebernstein L.P. now owns 46,540 shares of the company’s stock worth $329,000 after buying an additional 3,500 shares in the last quarter. Strs Ohio acquired a new stake in HighPeak Energy in the 1st quarter valued at about $60,000. Intech Investment Management LLC increased its holdings in HighPeak Energy by 46.4% during the 3rd quarter. Intech Investment Management LLC now owns 15,251 shares of the company’s stock valued at $108,000 after acquiring an additional 4,831 shares in the last quarter. Finally, Rhumbline Advisers increased its holdings in HighPeak Energy by 23.6% during the 2nd quarter. Rhumbline Advisers now owns 25,483 shares of the company’s stock valued at $250,000 after acquiring an additional 4,864 shares in the last quarter. 24.13% of the stock is owned by institutional investors and hedge funds.

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.