HighPeak Energy (NASDAQ:HPK) Stock Jumps 11.3% – What’s Next?

HighPeak Energy, Inc. (NASDAQ:HPK)’s stock price rose 11.3% during trading on Wednesday. The company traded as high as $7.52 and last traded at $7.59. 89,887 shares were traded during trading, a decline of 88% from the average session volume of 770,681 shares. The stock had previously closed at $6.82.

Analyst Ratings Changes

Several equities research analysts recently commented on the company. Wall Street Zen upgraded HighPeak Energy from a “sell” rating to a “hold” rating in a report on Sunday, August 16th. Zacks Research raised HighPeak Energy from a “hold” rating to a “strong-buy” rating in a report on Monday. Finally, Weiss Ratings raised shares of HighPeak Energy from a “sell (d)” rating to a “sell (d+)” rating in a report on Monday, November 2nd. One research analyst has rated the stock with a Strong Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy”.

HighPeak Energy Stock Performance

The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.85 and a current ratio of 0.73. The business’s fifty day moving average price is $8.83 and its two-hundred day moving average price is $7.20. The stock has a market capitalization of $1.05 billion, a P/E ratio of -7.71 and a beta of 0.05.

HighPeak Energy (NASDAQ:HPK) last announced its earnings results on Monday, November 9th. The company reported $0.32 EPS for the quarter, topping analysts’ consensus estimates of $0.07 by $0.25. HighPeak Energy had a positive return on equity of 0.76% and a negative net margin of 13.84%. The firm had revenue of $256.82 million during the quarter, compared to analysts’ expectations of $241.27 million. As a group, sell-side analysts forecast that HighPeak Energy, Inc. will post 0.15 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. BlackRock Inc. bought a new stake in HighPeak Energy during the 2nd quarter valued at $13,154,000. Bank of New York Mellon Corp lifted its holdings in shares of HighPeak Energy by 6.9% during the 1st quarter. Bank of New York Mellon Corp now owns 868,683 shares of the company’s stock valued at $5,994,000 after purchasing an additional 55,955 shares during the last quarter. Texas Capital Bank Wealth Management Services Inc acquired a new stake in HighPeak Energy in the second quarter worth about $5,426,000. PDT Partners LLC acquired a new stake in HighPeak Energy in the 2nd quarter worth approximately $3,831,000. Finally, Empowered Funds LLC acquired a new stake in shares of HighPeak Energy during the second quarter worth $1,285,000. 24.13% of the stock is currently owned by institutional investors.

About HighPeak Energy

HighPeak Energy, Inc. is an independent oil and natural gas exploration and production company. It focuses on acquiring, developing and operating oil and gas properties, with production that includes crude oil, natural gas and natural gas liquids. The company’s operations are concentrated in the Permian Basin of West Texas, particularly in Howard and Borden counties. Its activities include drilling and completing wells and managing the infrastructure needed to produce and transport hydrocarbons.