HighPeak Energy (NASDAQ:HPK) Reaches New 52-Week High – Here’s Why

HighPeak Energy, Inc. (NASDAQ:HPK)’s share price hit a new 52-week high during trading on Friday. The stock traded as high as $10.57 and last traded at $10.6360, with a volume of 337,634 shares traded. The stock had previously closed at $9.95.

Analyst Ratings Changes

A number of equities research analysts have commented on HPK shares. Wall Street Zen upgraded HighPeak Energy from a “sell” rating to a “hold” rating in a research report on Sunday, August 16th. Weiss Ratings reiterated a “sell (d)” rating on shares of HighPeak Energy in a report on Monday, August 31st. One equities research analyst has rated the stock with a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Reduce”.

HighPeak Energy Stock Up 7.3%

The firm has a market cap of $1.35 billion, a P/E ratio of -13.55 and a beta of 0.36. The business’s fifty day moving average price is $8.21 and its two-hundred day moving average price is $7.41. The company has a current ratio of 0.87, a quick ratio of 0.85 and a debt-to-equity ratio of 0.69.

HighPeak Energy (NASDAQ:HPK) last issued its quarterly earnings data on Monday, August 10th. The company reported $0.59 EPS for the quarter, beating analysts’ consensus estimates of $0.02 by $0.57. HighPeak Energy had a negative return on equity of 1.44% and a negative net margin of 10.52%. The business had revenue of $272.42 million for the quarter, compared to analyst estimates of $240.03 million. During the same quarter in the prior year, the firm posted $0.10 EPS. The firm’s revenue for the quarter was up 25.8% on a year-over-year basis. As a group, equities research analysts anticipate that HighPeak Energy, Inc. will post 0.15 EPS for the current year.

Hedge Funds Weigh In On HighPeak Energy

Several large investors have recently bought and sold shares of the stock. Caitong International Asset Management Co. Ltd bought a new stake in shares of HighPeak Energy in the fourth quarter valued at about $29,000. Allworth Financial LP acquired a new position in HighPeak Energy in the 2nd quarter valued at approximately $37,000. Integrated Wealth Concepts LLC acquired a new position in HighPeak Energy in the 2nd quarter valued at approximately $45,000. Kestra Advisory Services LLC acquired a new position in HighPeak Energy in the 1st quarter valued at approximately $70,000. Finally, Sequoia Financial Advisors LLC bought a new stake in shares of HighPeak Energy in the 2nd quarter worth approximately $73,000. 24.13% of the stock is currently owned by institutional investors and hedge funds.

HighPeak Energy Company Profile

HighPeak Energy, Inc (NASDAQ: HPK) is an independent oil and natural gas company focused on the acquisition, development and production of unconventional oil and gas reserves in the Midland Basin of the Permian Basin in West Texas.

The company’s operations are concentrated primarily in Howard and Borden counties, where it develops horizontal wells and produces crude oil, natural gas liquids and natural gas. HighPeak Energy’s activities include leasing acreage, drilling and completing wells, operating production facilities, and managing related gathering and infrastructure arrangements.

HighPeak Energy was established through a business combination involving Pure Acquisition Corp.