HighPeak Energy (NASDAQ:HPK) Shares Gap Up – Still a Buy?

HighPeak Energy, Inc. (NASDAQ:HPK)’s stock price gapped up prior to trading on Thursday . The stock had previously closed at $6.30, but opened at $7.00. HighPeak Energy shares last traded at $7.1250, with a volume of 226,048 shares changing hands.

Analysts Set New Price Targets

HPK has been the subject of several analyst reports. Weiss Ratings reissued a “sell (d+)” rating on shares of HighPeak Energy in a report on Monday, December 29th. Zacks Research raised shares of HighPeak Energy from a “strong sell” rating to a “hold” rating in a research note on Tuesday, March 17th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $11.00.

HighPeak Energy Trading Up 8.6%

The company has a debt-to-equity ratio of 0.71, a current ratio of 1.13 and a quick ratio of 1.10. The company has a market cap of $864.29 million, a price-to-earnings ratio of 76.13 and a beta of 0.60. The business has a 50 day simple moving average of $5.48 and a 200 day simple moving average of $5.75.

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

Institutional Investors Weigh In On HighPeak Energy

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. State of Alaska Department of Revenue bought a new position in shares of HighPeak Energy in the third quarter worth about $31,000. Strs Ohio bought a new stake in shares of HighPeak Energy during the first quarter valued at approximately $60,000. Raymond James Financial Inc. bought a new stake in shares of HighPeak Energy during the second quarter valued at approximately $49,000. Caitong International Asset Management Co. Ltd acquired a new stake in shares of HighPeak Energy in the fourth quarter valued at approximately $29,000. Finally, Stokes Family Office LLC bought a new position in HighPeak Energy in the 4th quarter worth approximately $48,000. Institutional investors and hedge funds own 24.13% of the company’s stock.

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.