HighPeak Energy (NASDAQ:HPK) Shares Down 5.1% - What's Next?

Key Points

• HighPeak Energy shares fell 5.1% to about $10.81 during mid-day trading, while volume was 63% below the average session volume.
• Analyst sentiment remains cautious: one firm rates the stock “Sell,” another rates it “Hold,” and the consensus rating is “Reduce.”
• The company exceeded quarterly expectations with $0.59 in EPS versus $0.02 expected and revenue of $272.4 million, up 25.8% year over year, though it reported a negative net margin.

HighPeak Energy, Inc. (NASDAQ:HPK - Get Free Report)'s stock price dropped 5.1% during mid-day trading on Tuesday. The company traded as low as $10.78 and last traded at $10.8080. 289,597 shares were traded during mid-day trading, a decline of 63% from the average session volume of 775,188 shares. The stock had previously closed at $11.39.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on HPK. Weiss Ratings restated a "sell (d)" rating on shares of HighPeak Energy in a report on Monday, August 31st. Wall Street Zen raised shares of HighPeak Energy from a "sell" rating to a "hold" rating in a research note on Sunday, August 16th. One analyst has rated the stock with a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Reduce".

HighPeak Energy Price Performance

The business's 50-day simple moving average is $8.71 and its two-hundred day simple moving average is $6.93. The company has a quick ratio of 0.85, a current ratio of 0.87 and a debt-to-equity ratio of 0.69. The stock has a market cap of $1.36 billion, a P/E ratio of -13.63 and a beta of 0.36.

HighPeak Energy (NASDAQ:HPK - Get Free Report) last issued its quarterly earnings results on Monday, August 10th. The company reported $0.59 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.02 by $0.57. The firm had revenue of $272.42 million during the quarter, compared to the consensus estimate of $240.03 million. HighPeak Energy had a negative return on equity of 1.44% and a negative net margin of 10.52%. The company's revenue for the quarter was up 25.8% on a year-over-year basis. During the same quarter last year, the company posted $0.10 EPS. Sell-side analysts expect that HighPeak Energy, Inc. will post 0.15 EPS for the current year.

Institutional Investors Weigh In On HighPeak Energy

Hedge funds have recently bought and sold shares of the business. Allworth Financial LP grew its position in HighPeak Energy by 135.3% during the 2nd quarter. Allworth Financial LP now owns 5,226 shares of the company's stock worth $37,000 after purchasing an additional 3,005 shares during the period. State of Alaska Department of Revenue boosted its stake in shares of HighPeak Energy by 18.7% in the third quarter. State of Alaska Department of Revenue now owns 25,660 shares of the company's stock worth $208,000 after acquiring an additional 4,036 shares during the last quarter. Integrated Wealth Concepts LLC purchased a new position in shares of HighPeak Energy in the second quarter worth about $45,000. Kestra Advisory Services LLC purchased a new position in HighPeak Energy during the first quarter worth approximately $70,000. Finally, Sequoia Financial Advisors LLC purchased a new stake in shares of HighPeak Energy in the second quarter valued at about $73,000. Institutional investors own 24.13% of the company's stock.

HighPeak Energy Company Profile

HighPeak Energy, Inc NASDAQ: HPK is an independent energy company engaged in the acquisition, development and production of oil, natural gas and natural gas liquids. The company focuses primarily on unconventional reserves in the Permian Basin, one of the leading oil-producing regions in the United States.

HighPeak Energy's operations are concentrated in the Midland Basin of West Texas, particularly in Howard and Borden counties. Its activities include drilling and completing horizontal wells, developing oil and gas acreage, and producing hydrocarbons for sale into regional energy markets.

The company became a publicly traded entity in 2020 through a business combination involving Pure Acquisition Corp.

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