HighPeak Energy (NASDAQ:HPK) Shares Gap Up – Should You Buy?

HighPeak Energy, Inc. (NASDAQ:HPK) gapped up prior to trading 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 traded.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the company. Zacks Research raised HighPeak Energy from a “strong sell” rating to a “hold” rating in a report on Monday, May 25th. Weiss Ratings restated a “sell (d)” rating on shares of HighPeak Energy in a report on Wednesday, June 3rd. Finally, Wall Street Zen raised shares of HighPeak Energy from a “sell” rating to a “hold” rating in a research note on Tuesday, June 30th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock currently 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 has a market capitalization of $929.99 million, a PE ratio of -6.18 and a beta of 0.36. The firm’s 50-day simple moving average is $7.27 and its two-hundred day simple moving average is $6.13.

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, meeting the consensus estimate of ($0.02). The company had revenue of $215.89 million for the quarter, compared to the consensus estimate of $210.14 million. HighPeak Energy had a negative net margin of 18.78% and a negative return on equity of 0.73%. The company’s revenue was down 20.7% on a year-over-year basis. During the same period in the previous year, the business earned $0.31 EPS. On average, equities research analysts expect that HighPeak Energy, Inc. will post -0.08 earnings per share for the current fiscal year.

Institutional Investors Weigh In On HighPeak Energy

Hedge funds have recently bought and sold shares of the business. Texas Capital Bank Wealth Management Services Inc acquired a new position in shares of HighPeak Energy in the 4th quarter valued at about $2,257,000. Renaissance Technologies LLC acquired a new stake in shares of HighPeak Energy during the fourth quarter worth approximately $576,000. Bank of America Corp DE boosted its holdings in shares of HighPeak Energy by 831.1% during the third quarter. Bank of America Corp DE now owns 108,047 shares of the company’s stock worth $764,000 after purchasing an additional 96,443 shares during the period. Vanguard Group Inc. grew its position in HighPeak Energy by 3.7% during the third quarter. Vanguard Group Inc. now owns 2,666,153 shares of the company’s stock valued at $18,850,000 after purchasing an additional 94,834 shares in the last quarter. Finally, Goldman Sachs Group Inc. grew its position in HighPeak Energy by 678.1% during the fourth quarter. Goldman Sachs Group Inc. now owns 82,047 shares of the company’s stock valued at $389,000 after purchasing an additional 71,503 shares in the last quarter. 24.13% of the stock is owned by hedge funds and other institutional investors.

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.