HighPeak Energy (NASDAQ:HPK) Shares Down 8.4% – What’s Next?

HighPeak Energy, Inc. (NASDAQ:HPK)’s share price dropped 8.4% during trading on Monday. The stock traded as low as $9.19 and last traded at $9.33. 159,661 shares changed hands during trading, a decline of 79% from the average daily volume of 770,810 shares. The stock had previously closed at $10.19.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. Weiss Ratings upgraded HighPeak Energy from a “sell (d)” rating to a “sell (d+)” rating in a report on Monday. Wall Street Zen upgraded shares of HighPeak Energy from a “sell” rating to a “hold” rating in a research note on Sunday, August 16th. One investment analyst has rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Reduce”.

HighPeak Energy Stock Performance

The firm has a market cap of $1.09 billion, a P/E ratio of -10.92 and a beta of 0.05. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.85 and a current ratio of 0.87. The business’s 50-day simple moving average is $8.93 and its 200 day simple moving average is $7.10.

HighPeak Energy (NASDAQ:HPK) last released its quarterly earnings results on Monday, August 10th. The company reported $0.59 earnings per share for the quarter, beating the consensus estimate of $0.02 by $0.57. The firm had revenue of $272.42 million for the quarter, compared to analysts’ expectations of $240.03 million. HighPeak Energy had a negative return on equity of 1.44% and a negative net margin of 10.52%. The company’s revenue was up 25.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.10 EPS. As a group, equities analysts predict that HighPeak Energy, Inc. will post 0.15 earnings per share for the current year.

Institutional Trading of HighPeak Energy

A number of hedge funds have recently bought and sold shares of the company. Allworth Financial LP increased its position 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 valued at $37,000 after purchasing an additional 3,005 shares during the last quarter. State of Alaska Department of Revenue lifted its stake in shares of HighPeak Energy by 18.7% in the 3rd quarter. State of Alaska Department of Revenue now owns 25,660 shares of the company’s stock worth $208,000 after purchasing an additional 4,036 shares during the period. Integrated Wealth Concepts LLC purchased a new position in shares of HighPeak Energy in the second quarter worth approximately $45,000. Kestra Advisory Services LLC purchased a new position in shares of HighPeak Energy in the first quarter worth approximately $70,000. Finally, Sequoia Financial Advisors LLC purchased a new position in shares of HighPeak Energy in the second quarter worth approximately $73,000. Hedge funds and other institutional investors own 24.13% of the company’s stock.

About HighPeak Energy

HighPeak Energy, Inc (NASDAQ: HPK) is an independent energy company engaged in the acquisition, development and production of oil, natural gas and natural gas liquids. The company focuses primarily on unconventional reserves in the Permian Basin, one of the leading oil-producing regions in the United States.

HighPeak Energy’s operations are concentrated in the Midland Basin of West Texas, particularly in Howard and Borden counties. Its activities include drilling and completing horizontal wells, developing oil and gas acreage, and producing hydrocarbons for sale into regional energy markets.

The company became a publicly traded entity in 2020 through a business combination involving Pure Acquisition Corp.