HighPeak Energy (NASDAQ:HPK) Sets New 1-Year Low on Disappointing Earnings

Key Points

• HighPeak Energy's stock reached a 52-week low of $7.72 after reporting disappointing earnings, missing EPS estimates by $0.01.
• The company saw a 27.2% decline in revenue year-over-year, bringing in $200.40 million against an expected $210.87 million.
• Institutional investors now hold 24.13% of HighPeak Energy's stock, with several firms recently buying or increasing their stakes in the company.

HighPeak Energy, Inc. (NASDAQ:HPK - Get Free Report)'s share price reached a new 52-week low on Tuesday following a dissappointing earnings announcement. The company traded as low as $7.72 and last traded at $7.81, with a volume of 67100 shares changing hands. The stock had previously closed at $8.43.

The company reported $0.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.11 by ($0.01). HighPeak Energy had a return on equity of 8.79% and a net margin of 12.03%. The business had revenue of $200.40 million during the quarter, compared to the consensus estimate of $210.87 million. During the same quarter in the previous year, the business earned $0.28 earnings per share. The firm's revenue was down 27.2% compared to the same quarter last year.

Institutional Investors Weigh In On HighPeak Energy

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. BNP Paribas Financial Markets bought a new stake in HighPeak Energy in the fourth quarter worth $26,000. Strs Ohio bought a new stake in HighPeak Energy in the first quarter worth $60,000. Wells Fargo & Company MN increased its position in HighPeak Energy by 25.4% in the fourth quarter. Wells Fargo & Company MN now owns 9,180 shares of the company's stock worth $135,000 after purchasing an additional 1,857 shares during the last quarter. Exchange Traded Concepts LLC increased its position in HighPeak Energy by 1,262.5% in the first quarter. Exchange Traded Concepts LLC now owns 9,238 shares of the company's stock worth $117,000 after purchasing an additional 8,560 shares during the last quarter. Finally, Raymond James Financial Inc. purchased a new position in HighPeak Energy during the fourth quarter worth $148,000. Institutional investors own 24.13% of the company's stock.

HighPeak Energy Price Performance

The company has a quick ratio of 0.48, a current ratio of 0.51 and a debt-to-equity ratio of 0.55. The firm's 50 day simple moving average is $9.96 and its 200 day simple moving average is $10.77. The company has a market capitalization of $975.78 million, a PE ratio of 8.82 and a beta of 1.06.

About HighPeak Energy

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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