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

HighPeak Energy, Inc. (NASDAQ:HPK)’s stock price 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 trading hands.

Analysts Set New Price Targets

Several brokerages recently weighed in on HPK. Zacks Research raised HighPeak Energy from a “strong sell” rating to a “hold” rating in a report on Monday, May 25th. Wall Street Zen upgraded shares of HighPeak Energy from a “sell” rating to a “hold” rating in a research report on Tuesday, June 30th. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of HighPeak Energy in a report on Wednesday, June 3rd. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $12.00.

HighPeak Energy Stock Up 1.0%

The company has a debt-to-equity ratio of 0.75, a quick ratio of 0.66 and a current ratio of 0.67. The firm has a fifty day moving average price of $7.24 and a 200 day moving average price of $6.12. The firm has a market capitalization of $926.85 million, a price-to-earnings ratio of -6.20 and a beta of 0.36.

HighPeak Energy (NASDAQ:HPK) last announced its quarterly earnings data on Wednesday, May 6th. The company reported ($0.02) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.02). The firm had revenue of $215.89 million for the quarter, compared to analyst estimates of $210.14 million. HighPeak Energy had a negative return on equity of 0.73% and a negative net margin of 18.78%.HighPeak Energy’s quarterly revenue was down 20.7% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.31 earnings per share. As a group, sell-side analysts expect that HighPeak Energy, Inc. will post -0.08 EPS for the current fiscal year.

Hedge Funds Weigh In On HighPeak Energy

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Empowered Funds LLC increased its holdings in shares of HighPeak Energy by 1.9% in the 1st quarter. Empowered Funds LLC now owns 186,174 shares of the company’s stock valued at $2,357,000 after purchasing an additional 3,431 shares in the last quarter. Alliancebernstein L.P. lifted its stake in shares of HighPeak Energy by 8.1% in the third quarter. Alliancebernstein L.P. now owns 46,540 shares of the company’s stock valued at $329,000 after purchasing an additional 3,500 shares during the period. Strs Ohio purchased a new stake in HighPeak Energy during the first quarter worth about $60,000. Intech Investment Management LLC boosted its holdings in HighPeak Energy by 46.4% during the third quarter. Intech Investment Management LLC now owns 15,251 shares of the company’s stock worth $108,000 after buying an additional 4,831 shares in the last quarter. Finally, Rhumbline Advisers grew its position in HighPeak Energy by 23.6% during the second quarter. Rhumbline Advisers now owns 25,483 shares of the company’s stock worth $250,000 after buying an additional 4,864 shares during the period. 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.