HighPeak Energy (NASDAQ:HPK) Hits New 52-Week Low - Time to Sell?

Key Points

• HighPeak Energy shares have reached a new 52-week low at $7.04 during trading, reflecting significant losses as the stock traded down 6.2%.
• Wall Street analysts have downgraded the stock from a "hold" to a "sell" rating, with an average price target of $11.50, indicating negative sentiment around the company's performance.
• The company's quarterly earnings showed disappointing results, with a net margin of 12.59% and a substantial revenue drop of 27.2% year-over-year, falling short of analyst expectations.

HighPeak Energy, Inc. (NASDAQ:HPK - Get Free Report) shares hit a new 52-week low during mid-day trading on Tuesday . The company traded as low as $7.07 and last traded at $7.04, with a volume of 602534 shares trading hands. The stock had previously closed at $7.74.

Analysts Set New Price Targets

Separately, Wall Street Zen lowered shares of HighPeak Energy from a "hold" rating to a "sell" rating in a research note on Saturday. One equities research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Reduce" and an average price target of $11.50.

HighPeak Energy Trading Down 6.2%

The stock's 50 day moving average is $9.62 and its two-hundred day moving average is $10.55. The company has a market capitalization of $915.27 million, a PE ratio of 8.44 and a beta of 1.06. The company has a quick ratio of 0.82, a current ratio of 0.87 and a debt-to-equity ratio of 0.62.

HighPeak Energy (NASDAQ:HPK - Get Free Report) last released its quarterly earnings results on Monday, August 11th. The company reported $0.10 EPS for the quarter, missing the consensus estimate of $0.11 by ($0.01). The firm had revenue of $200.40 million for the quarter, compared to analysts' expectations of $210.87 million. HighPeak Energy had a net margin of 12.59% and a return on equity of 7.10%. The business's quarterly revenue was down 27.2% compared to the same quarter last year. During the same period in the previous year, the company posted $0.28 earnings per share. As a group, sell-side analysts predict that HighPeak Energy, Inc. will post 0.78 EPS for the current fiscal year.

HighPeak Energy Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 25th. Shareholders of record on Tuesday, September 2nd will be given a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a dividend yield of 2.2%. The ex-dividend date of this dividend is Tuesday, September 2nd. HighPeak Energy's dividend payout ratio is presently 18.60%.

Institutional Trading of HighPeak Energy

Several hedge funds have recently modified their holdings of HPK. BNP Paribas Financial Markets acquired a new position in shares of HighPeak Energy during the fourth quarter valued at about $26,000. Raymond James Financial Inc. acquired a new position in shares of HighPeak Energy during the second quarter valued at about $49,000. Strs Ohio acquired a new position in shares of HighPeak Energy during the first quarter valued at about $60,000. Arrowstreet Capital Limited Partnership acquired a new position in shares of HighPeak Energy during the second quarter valued at about $109,000. Finally, Exchange Traded Concepts LLC increased its holdings in shares of HighPeak Energy by 1,262.5% during the first quarter. Exchange Traded Concepts LLC now owns 9,238 shares of the company's stock valued at $117,000 after acquiring an additional 8,560 shares in the last quarter. 24.13% of the stock is owned by hedge funds and other institutional investors.

HighPeak Energy Company Profile

HighPeak Energy, Inc, an independent oil and natural gas company, engages in the exploration, development, and production of crude oil, natural gas, and natural gas liquids reserves in the Permian Basin in West Texas and Eastern New Mexico. The company was incorporated in 2019 and is headquartered in Fort Worth, Texas.

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