HighPeak Energy (NASDAQ:HPK) Shares Gap Up – Time to Buy?

HighPeak Energy, Inc. (NASDAQ:HPK)’s stock price gapped up before the market opened on Wednesday . The stock had previously closed at $6.43, but opened at $6.88. HighPeak Energy shares last traded at $6.6210, with a volume of 30,707 shares traded.

Wall Street Analysts Forecast Growth

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

HighPeak Energy Price Performance

The company has a debt-to-equity ratio of 0.75, a quick ratio of 0.66 and a current ratio of 0.67. The firm’s 50-day simple moving average is $7.30 and its 200 day simple moving average is $6.31. The company has a market capitalization of $837.75 million, a PE ratio of -5.57 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). HighPeak Energy had a negative net margin of 18.78% and a negative return on equity of 0.73%. The company had revenue of $215.89 million during the quarter, compared to analysts’ expectations of $210.14 million. During the same period last year, the company posted $0.31 earnings per share. The firm’s quarterly revenue was down 20.7% compared to the same quarter last year. As a group, equities research analysts forecast that HighPeak Energy, Inc. will post -0.08 earnings per share for the current year.

Institutional Trading of HighPeak Energy

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

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.