HighPeak Energy (NASDAQ:HPK) Shares Gap Up to $14.34

Shares of HighPeak Energy, Inc. (NASDAQ:HPK - Get Free Report) gapped up before the market opened on Thursday . The stock had previously closed at $14.34, but opened at $15.20. HighPeak Energy shares last traded at $15.19, with a volume of 68,025 shares trading hands.

Wall Street Analysts Forecast Growth

Separately, Truist Financial lowered their target price on shares of HighPeak Energy from $11.00 to $10.00 and set a "sell" rating for the company in a report on Friday, April 5th.

HighPeak Energy Stock Performance

The company has a debt-to-equity ratio of 0.66, a current ratio of 1.14 and a quick ratio of 1.12. The stock has a market capitalization of $2.02 billion, a PE ratio of 9.79 and a beta of 0.67. The firm has a fifty day moving average price of $15.36 and a two-hundred day moving average price of $15.18.

HighPeak Energy (NASDAQ:HPK - Get Free Report) last issued its earnings results on Wednesday, May 8th. The company reported $0.37 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.39 by ($0.02). The company had revenue of $287.80 million for the quarter, compared to analysts' expectations of $284.38 million. HighPeak Energy had a net margin of 19.42% and a return on equity of 17.70%. The firm's revenue for the quarter was up 28.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.39 earnings per share. Research analysts expect that HighPeak Energy, Inc. will post 1.74 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in HPK. Janney Montgomery Scott LLC purchased a new position in shares of HighPeak Energy in the third quarter worth $553,000. GSA Capital Partners LLP purchased a new stake in HighPeak Energy during the 3rd quarter valued at about $2,318,000. New York State Common Retirement Fund raised its stake in shares of HighPeak Energy by 59.8% in the third quarter. New York State Common Retirement Fund now owns 86,698 shares of the company's stock worth $1,463,000 after purchasing an additional 32,441 shares during the last quarter. Pekin Hardy Strauss Inc. acquired a new stake in shares of HighPeak Energy during the third quarter worth about $814,000. Finally, Kennedy Capital Management LLC purchased a new stake in HighPeak Energy in the third quarter valued at approximately $10,396,000. 24.13% of the stock is currently 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.