HighPeak Energy (NASDAQ:HPK) Shares Down 4.8% – Should You Sell?

HighPeak Energy, Inc. (NASDAQ:HPK) dropped 4.8% during mid-day trading on Wednesday . The stock traded as low as $8.22 and last traded at $8.2280. 56,302 shares changed hands during mid-day trading, a decline of 93% from the average session volume of 788,152 shares. The stock had previously closed at $8.64.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on HPK. Wall Street Zen upgraded HighPeak Energy from a “sell” rating to a “hold” rating in a research note on Sunday, August 16th. Weiss Ratings reiterated a “sell (d)” rating on shares of HighPeak Energy in a research note on Monday, August 31st. Finally, Zacks Research raised HighPeak Energy from a “strong sell” rating to a “hold” rating in a report on Monday, May 25th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $12.00.

HighPeak Energy Price Performance

The company has a quick ratio of 0.85, a current ratio of 0.87 and a debt-to-equity ratio of 0.69. The stock’s 50 day moving average price is $7.70 and its two-hundred day moving average price is $7.09. The stock has a market cap of $1.05 billion, a price-to-earnings ratio of -10.56 and a beta of 0.39.

HighPeak Energy (NASDAQ:HPK) last posted its earnings results on Monday, August 10th. The company reported $0.59 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.02 by $0.57. HighPeak Energy had a negative net margin of 10.52% and a negative return on equity of 1.44%. The company had revenue of $272.42 million during the quarter, compared to the consensus estimate of $240.03 million. During the same period in the previous year, the firm posted $0.10 earnings per share. The firm’s quarterly revenue was up 25.8% on a year-over-year basis. Equities research analysts forecast that HighPeak Energy, Inc. will post -0.08 EPS for the current fiscal year.

Hedge Funds Weigh In On HighPeak Energy

Several institutional investors and hedge funds have recently modified their holdings of the stock. Sequoia Financial Advisors LLC purchased a new position in HighPeak Energy during the second quarter valued at approximately $73,000. Integrated Wealth Concepts LLC purchased a new stake in HighPeak Energy in the 2nd quarter worth approximately $45,000. Squarepoint Ops LLC purchased a new stake in HighPeak Energy in the 2nd quarter worth approximately $227,000. Allworth Financial LP grew its stake in shares of HighPeak Energy by 135.3% during the 2nd quarter. Allworth Financial LP now owns 5,226 shares of the company’s stock worth $37,000 after purchasing an additional 3,005 shares during the period. Finally, Susquehanna International Group LLP grew its stake in shares of HighPeak Energy by 242.4% during the 2nd quarter. Susquehanna International Group LLP now owns 45,574 shares of the company’s stock worth $319,000 after purchasing an additional 32,264 shares during the period. Institutional investors and hedge funds own 24.13% of the company’s stock.

HighPeak Energy Company Profile

HighPeak Energy, Inc is an independent oil and natural gas exploration and production company focused on developing oil-rich properties in the Midland Basin of the Permian Basin in West Texas. Its operations are concentrated in Howard, Borden, and adjacent counties, where it owns and operates acreage prospective for crude oil, natural gas, and natural gas liquids.

The company’s activities include acquiring mineral and leasehold interests, drilling and completing horizontal wells, producing hydrocarbons, and managing related gathering and infrastructure operations.