HighPeak Energy (NASDAQ:HPK) Trading 6.2% Higher - Should You Buy?

Key Points

• HighPeak Energy shares rose 6.2% in mid-day trading, reaching as high as $8.12 and last trading near $8.20, though volume was sharply below average.
• Analyst sentiment remains mixed but has improved slightly: the consensus rating is “Hold” with an average price target of $12.00, while recent actions included upgrades from Wall Street Zen and Zacks Research.
• The company’s latest results were mixed, with earnings meeting expectations at a loss of $0.02 per share and revenue topping estimates, but revenue still declined 20.7% year over year.

HighPeak Energy, Inc. (NASDAQ:HPK - Get Free Report)'s share price shot up 6.2% during mid-day trading on Wednesday . The company traded as high as $8.12 and last traded at $8.2020. 81,676 shares were traded during mid-day trading, a decline of 91% from the average session volume of 887,987 shares. The stock had previously closed at $7.72.

Wall Street Analysts Forecast Growth

HPK has been the topic of a number of analyst reports. Weiss Ratings reiterated a "sell (d)" rating on shares of HighPeak Energy in a research report on Wednesday, June 3rd. Wall Street Zen upgraded shares of HighPeak Energy from a "sell" rating to a "hold" rating in a research report on Tuesday, June 30th. Finally, Zacks Research raised HighPeak Energy from a "strong sell" rating to a "hold" rating in a research note on Monday, May 25th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $12.00.

HighPeak Energy Stock Up 2.7%

The company has a current ratio of 0.67, a quick ratio of 0.66 and a debt-to-equity ratio of 0.75. The stock has a 50 day simple moving average of $7.32 and a 200 day simple moving average of $6.18. The firm has a market capitalization of $1.00 billion, a PE ratio of -6.67 and a beta of 0.36.

HighPeak Energy (NASDAQ:HPK - Get Free Report) last released its quarterly earnings data on Wednesday, May 6th. The company reported ($0.02) earnings per share for the quarter, meeting analysts' consensus estimates of ($0.02). HighPeak Energy had a negative return on equity of 0.73% and a negative net margin of 18.78%.The firm had revenue of $215.89 million during the quarter, compared to analyst estimates of $210.14 million. During the same quarter in the prior year, the firm posted $0.31 earnings per share. The business's quarterly revenue was down 20.7% compared to the same quarter last year. As a group, sell-side analysts forecast that HighPeak Energy, Inc. will post -0.08 earnings per share for the current year.

Institutional Investors Weigh In On HighPeak Energy

Institutional investors have recently added to or reduced their stakes in the company. Caitong International Asset Management Co. Ltd purchased a new position in shares of HighPeak Energy in the fourth quarter valued at about $29,000. Stokes Family Office LLC purchased a new stake in shares of HighPeak Energy during the fourth quarter worth about $48,000. Raymond James Financial Inc. purchased a new stake in shares of HighPeak Energy during the second quarter worth about $49,000. State of Alaska Department of Revenue grew its stake in shares of HighPeak Energy by 135.5% in the fourth quarter. State of Alaska Department of Revenue now owns 10,624 shares of the company's stock worth $50,000 after purchasing an additional 6,112 shares during the last quarter. Finally, The Manufacturers Life Insurance Company bought a new stake in shares of HighPeak Energy in the fourth quarter worth about $51,000. Hedge funds and other institutional investors own 24.13% of the company's stock.

HighPeak Energy Company Profile

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.

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