HighPeak Energy (NASDAQ:HPK) Stock Rating Lowered by Wall Street Zen

Key Points

• HighPeak Energy has been downgraded from "hold" to "sell" by Wall Street Zen, indicating a potential downturn in investor sentiment.
• The company's quarterly earnings missed expectations, reporting $0.10 EPS compared to a consensus estimate of $0.11, and showing a 27.2% decline in revenue year-over-year.
• Institutional investors hold 24.13% of HighPeak Energy's stock, with notable increases in stakes from hedge funds such as Lazard Asset Management and Nebula Research & Development.

HighPeak Energy (NASDAQ:HPK - Get Free Report) was downgraded by analysts at Wall Street Zen from a "hold" rating to a "sell" rating in a research note issued to investors on Saturday.

HighPeak Energy Stock Performance

HPK stock traded down $0.0010 during midday trading on Friday, hitting $7.2590. The stock had a trading volume of 39,149 shares, compared to its average volume of 354,714. The firm has a market capitalization of $915.12 million, a price-to-earnings ratio of 8.44 and a beta of 1.06. HighPeak Energy has a 52 week low of $7.00 and a 52 week high of $16.56. The stock has a 50-day simple moving average of $9.54 and a 200 day simple moving average of $10.53. The company has a current ratio of 0.87, a quick ratio of 0.82 and a debt-to-equity ratio of 0.62.

HighPeak Energy (NASDAQ:HPK - Get Free Report) last issued its 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 during the quarter, compared to the consensus estimate of $210.87 million. HighPeak Energy had a return on equity of 7.10% and a net margin of 12.59%.The firm's revenue for the quarter was down 27.2% compared to the same quarter last year. During the same period last year, the business earned $0.28 earnings per share. As a group, equities research analysts anticipate that HighPeak Energy will post 0.78 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. Lazard Asset Management LLC raised its stake in HighPeak Energy by 15.6% during the second quarter. Lazard Asset Management LLC now owns 72,922 shares of the company's stock worth $714,000 after acquiring an additional 9,852 shares in the last quarter. Raymond James Financial Inc. acquired a new position in HighPeak Energy during the second quarter worth $49,000. Nebula Research & Development LLC raised its stake in HighPeak Energy by 56.1% during the second quarter. Nebula Research & Development LLC now owns 18,273 shares of the company's stock worth $179,000 after acquiring an additional 6,568 shares in the last quarter. Invesco Ltd. raised its stake in HighPeak Energy by 4.7% during the second quarter. Invesco Ltd. now owns 209,137 shares of the company's stock worth $2,050,000 after acquiring an additional 9,444 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership acquired a new position in HighPeak Energy during the second quarter worth $109,000. 24.13% of the stock is currently owned by institutional investors and hedge funds.

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.