HighPeak Energy (NASDAQ:HPK) Stock Jumps 11.3% – Here’s Why

HighPeak Energy, Inc. (NASDAQ:HPK)’s stock price shot up 11.3% on Wednesday. The stock traded as high as $7.52 and last traded at $7.59. Approximately 89,887 shares traded hands during trading, a decline of 88% from the average daily volume of 770,681 shares. The stock had previously closed at $6.82.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the stock. Weiss Ratings upgraded shares of HighPeak Energy from a “sell (d)” rating to a “sell (d+)” rating in a research report on Monday, November 2nd. Zacks Research raised shares of HighPeak Energy from a “hold” rating to a “strong-buy” rating in a research note on Monday. Finally, Wall Street Zen upgraded HighPeak Energy from a “sell” rating to a “hold” rating in a research report on Sunday, August 16th. One investment analyst has rated the stock with a Strong Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy”.

HighPeak Energy Trading Up 6.5%

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 firm has a market cap of $918.03 million, a price-to-earnings ratio of -6.74 and a beta of 0.05. The business has a 50 day moving average of $8.84 and a 200 day moving average of $7.17.

HighPeak Energy (NASDAQ:HPK) last posted its quarterly earnings data on Monday, November 9th. The company reported $0.32 EPS for the quarter, topping analysts’ consensus estimates of $0.07 by $0.25. HighPeak Energy had a positive return on equity of 0.75% and a negative net margin of 13.84%. The firm had revenue of $256.82 million during the quarter, compared to analysts’ expectations of $241.27 million. On average, research analysts forecast that HighPeak Energy, Inc. will post 0.15 earnings per share for the current fiscal year.

Institutional Investors Weigh In On HighPeak Energy

Several hedge funds have recently modified their holdings of the company. Allworth Financial LP purchased a new stake in shares of HighPeak Energy during the second quarter worth about $37,000. Integrated Wealth Concepts LLC acquired a new position in shares of HighPeak Energy in the second quarter valued at approximately $45,000. Kestra Advisory Services LLC purchased a new position in shares of HighPeak Energy during the first quarter valued at approximately $70,000. Sequoia Financial Advisors LLC purchased a new position in shares of HighPeak Energy during the second quarter valued at approximately $73,000. Finally, Vise Technologies Inc. purchased a new position in shares of HighPeak Energy during the third quarter valued at approximately $101,000. 24.13% of the stock is owned by institutional investors and hedge funds.

About HighPeak Energy

HighPeak Energy, Inc. is an independent oil and natural gas exploration and production company. It focuses on acquiring, developing and operating oil and gas properties, with production that includes crude oil, natural gas and natural gas liquids. The company’s operations are concentrated in the Permian Basin of West Texas, particularly in Howard and Borden counties. Its activities include drilling and completing wells and managing the infrastructure needed to produce and transport hydrocarbons.