HighPeak Energy (NASDAQ:HPK) Shares Gap Down - Should You Sell?

Key Points

• HighPeak Energy shares fell sharply at the open, dropping from a prior close of $7.65 to $7.34 and last trading at $7.27.
• Analyst sentiment is mixed but leans neutral: ratings include Strong Buy, Hold and Sell, resulting in a consensus “Hold” rating and a $12.00 price target.
• The company matched quarterly EPS expectations at a loss of $0.02 but reported revenue of $215.89 million, down 20.7% year over year; analysts expect a full-year loss of $0.08 per share.

HighPeak Energy, Inc. (NASDAQ:HPK - Get Free Report)'s stock price gapped down prior to trading on Monday . The stock had previously closed at $7.65, but opened at $7.34. HighPeak Energy shares last traded at $7.27, with a volume of 22,052 shares changing hands.

Wall Street Analysts Forecast Growth

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

HighPeak Energy Stock Performance

The company has a quick ratio of 0.66, a current ratio of 0.67 and a debt-to-equity ratio of 0.75. The company has a market capitalization of $906.38 million, a PE ratio of -6.02 and a beta of 0.36. The business has a 50 day simple moving average of $7.38 and a 200 day simple moving average of $6.25.

HighPeak Energy (NASDAQ:HPK - Get Free Report) last issued its quarterly earnings results on Wednesday, May 6th. The company reported ($0.02) earnings per share for the quarter, hitting analysts' consensus estimates of ($0.02). The business 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%.The company's revenue was down 20.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.31 earnings per share. Equities research analysts predict that HighPeak Energy, Inc. will post -0.08 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. Texas Capital Bank Wealth Management Services Inc acquired a new stake in HighPeak Energy during the 4th quarter worth about $2,257,000. Renaissance Technologies LLC acquired a new position in shares of HighPeak Energy in the fourth quarter valued at about $576,000. Bank of America Corp DE increased its holdings in shares of HighPeak Energy by 831.1% in the third quarter. Bank of America Corp DE now owns 108,047 shares of the company's stock valued at $764,000 after purchasing an additional 96,443 shares during the period. Vanguard Group Inc. raised its stake in shares of HighPeak Energy by 3.7% in the third quarter. Vanguard Group Inc. now owns 2,666,153 shares of the company's stock worth $18,850,000 after purchasing an additional 94,834 shares during the last quarter. Finally, Goldman Sachs Group Inc. raised its stake in shares of HighPeak Energy by 678.1% in the fourth quarter. Goldman Sachs Group Inc. now owns 82,047 shares of the company's stock worth $389,000 after purchasing an additional 71,503 shares during the last quarter. Institutional investors and hedge funds own 24.13% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.