HighPeak Energy (NASDAQ:HPK) Shares Gap Up – Here’s What Happened

Shares of HighPeak Energy, Inc. (NASDAQ:HPK) gapped up before the market opened on Friday . The stock had previously closed at $7.26, but opened at $7.54. HighPeak Energy shares last traded at $7.5260, with a volume of 44,828 shares changing hands.

Analyst Ratings Changes

A number of research firms recently weighed in on HPK. Weiss Ratings restated a “sell (d)” rating on shares of HighPeak Energy in a report on Wednesday, June 3rd. Wall Street Zen raised HighPeak Energy from a “sell” rating to a “hold” rating in a report on Tuesday, June 30th. Finally, Zacks Research upgraded HighPeak Energy from a “strong sell” rating to a “hold” rating in a research report on Monday, May 25th. One 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. According to MarketBeat.com, HighPeak Energy has an average rating of “Hold” and an average price target of $12.00.

HighPeak Energy Stock Performance

The company has a current ratio of 0.67, a quick ratio of 0.66 and a debt-to-equity ratio of 0.75. The stock’s 50 day moving average is $7.24 and its 200 day moving average is $6.12. The stock has a market capitalization of $926.85 million, a price-to-earnings ratio of -6.20 and a beta of 0.36.

HighPeak Energy (NASDAQ:HPK) last announced its earnings results on Wednesday, May 6th. The company reported ($0.02) earnings per share (EPS) for the quarter, hitting 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 quarter in the previous year, the business posted $0.31 earnings per share. The firm’s quarterly revenue was down 20.7% compared to the same quarter last year. On average, analysts predict that HighPeak Energy, Inc. will post -0.08 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of HPK. Empowered Funds LLC lifted its stake in HighPeak Energy by 1.9% in the 1st quarter. Empowered Funds LLC now owns 186,174 shares of the company’s stock valued at $2,357,000 after buying an additional 3,431 shares in the last quarter. Jane Street Group LLC increased its position in HighPeak Energy by 79.6% during the first quarter. Jane Street Group LLC now owns 20,368 shares of the company’s stock worth $258,000 after buying an additional 9,029 shares in the last quarter. Strs Ohio purchased a new position in HighPeak Energy during the first quarter worth $60,000. Geode Capital Management LLC raised its holdings in shares of HighPeak Energy by 12.4% in the second quarter. Geode Capital Management LLC now owns 640,028 shares of the company’s stock worth $6,273,000 after acquiring an additional 70,590 shares during the last quarter. Finally, Creative Planning acquired a new position in shares of HighPeak Energy in the second quarter worth $225,000. 24.13% of the stock is currently 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.