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

HighPeak Energy, Inc. (NASDAQ:HPK)’s share price gapped up before the market opened on Monday . The stock had previously closed at $6.34, but opened at $6.67. HighPeak Energy shares last traded at $6.5160, with a volume of 126,181 shares trading hands.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on HPK. Wall Street Zen downgraded shares of HighPeak Energy from a “sell” rating to a “strong sell” rating in a research note on Sunday. Zacks Research raised shares of HighPeak Energy from a “strong sell” rating to a “hold” rating in a research note on Tuesday, March 17th. Finally, Weiss Ratings reaffirmed a “sell (d+)” rating on shares of HighPeak Energy in a research note on Monday, December 29th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, HighPeak Energy presently has a consensus rating of “Hold” and an average target price of $12.00.

HighPeak Energy Stock Down 7.5%

The company has a market cap of $744.26 million, a PE ratio of 65.45 and a beta of 0.60. The company’s 50 day moving average is $5.88 and its 200 day moving average is $5.70. The company has a current ratio of 1.13, a quick ratio of 1.10 and a debt-to-equity ratio of 0.71.

HighPeak Energy (NASDAQ:HPK) last posted its quarterly earnings results on Saturday, January 31st. The company reported $0.82 EPS for the quarter. HighPeak Energy had a net margin of 2.33% and a return on equity of 2.11%. As a group, analysts predict that HighPeak Energy, Inc. will post 0.78 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Stokes Family Office LLC bought a new position in HighPeak Energy during the 4th quarter worth about $48,000. Caitong International Asset Management Co. Ltd bought a new position in HighPeak Energy during the 4th quarter worth about $29,000. Alpine Global Management LLC bought a new position in HighPeak Energy during the 4th quarter worth about $200,000. Aristides Capital LLC bought a new position in HighPeak Energy during the 4th quarter worth about $194,000. Finally, Texas Capital Bank Wealth Management Services Inc bought a new position in HighPeak Energy during the 4th quarter worth about $2,257,000. 24.13% of the stock is currently owned by institutional investors.

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.