HighPeak Energy (NASDAQ:HPK) Shares Up 8.2% – Time to Buy?

HighPeak Energy, Inc. (NASDAQ:HPK)’s share price traded up 8.2% on Friday . The company traded as high as $7.13 and last traded at $7.1750. Approximately 246,276 shares traded hands during mid-day trading, a decline of 72% from the average session volume of 867,698 shares. The stock had previously closed at $6.63.

Analyst Ratings Changes

A number of equities research analysts have recently commented on HPK shares. Wall Street Zen upgraded HighPeak Energy from a “sell” rating to a “hold” rating in a research report on Tuesday, June 30th. Zacks Research upgraded HighPeak Energy from a “strong sell” rating to a “hold” rating in a research report on Monday, May 25th. Finally, Weiss Ratings reissued a “sell (d)” rating on shares of HighPeak Energy in a report on Wednesday, June 3rd. One 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. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price 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 firm’s 50-day moving average is $7.28 and its two-hundred day moving average is $6.32. The stock has a market cap of $903.47 million, a price-to-earnings ratio of -6.01 and a beta of 0.36.

HighPeak Energy (NASDAQ:HPK) last issued its quarterly earnings results on Wednesday, May 6th. The company reported ($0.02) earnings per share for the quarter, meeting 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 firm had revenue of $215.89 million for the quarter, compared to analyst estimates of $210.14 million. During the same period last year, the company posted $0.31 EPS. HighPeak Energy’s quarterly revenue was down 20.7% compared to the same quarter last year. As a group, sell-side analysts expect that HighPeak Energy, Inc. will post -0.08 earnings per share for the current year.

Institutional Trading of HighPeak Energy

Institutional investors have recently made changes to their positions in the company. Cetera Investment Advisers acquired a new position in HighPeak Energy in the 1st quarter valued at $104,000. Independent Financial Group LLC acquired a new stake in HighPeak Energy during the 1st quarter worth $179,000. Bank of New York Mellon Corp grew its holdings in shares of HighPeak Energy by 6.9% during the first quarter. Bank of New York Mellon Corp now owns 868,683 shares of the company’s stock worth $5,994,000 after buying an additional 55,955 shares in the last quarter. Hsbc Holdings PLC acquired a new stake in shares of HighPeak Energy in the first quarter valued at about $255,000. Finally, Kestra Advisory Services LLC purchased a new position in shares of HighPeak Energy in the first quarter worth about $70,000. 24.13% of the stock is owned by institutional investors and hedge funds.

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.