HighPeak Energy (NASDAQ:HPK) Stock Jumps 11.3% - Here's Why

Key Points

• HighPeak Energy shares rose 11.3% in Wednesday mid-day trading, reaching $7.59, although trading volume was 88% below its average.
• The company’s latest quarterly results beat estimates: earnings were $0.32 per share versus $0.07 expected, and revenue was $256.82 million versus $241.27 million forecast.
• Analyst views remain mixed, with Zacks Research upgrading the stock to “strong buy” while other firms’ ratings ranged from “sell” to “hold”; MarketBeat’s average rating is “Moderate Buy.”

HighPeak Energy, Inc. (NASDAQ:HPK - Get Free Report)'s stock price rose 11.3% during mid-day trading on Wednesday. The stock traded as high as $7.52 and last traded at $7.59. 89,887 shares were traded during mid-day trading, a decline of 88% from the average session volume of 770,681 shares. The stock had previously closed at $6.82.

Analyst Ratings Changes

A number of research firms have commented on HPK. Weiss Ratings raised HighPeak Energy from a "sell (d)" rating to a "sell (d+)" rating in a report on Monday, November 2nd. Zacks Research raised shares of HighPeak Energy from a "hold" rating to a "strong-buy" rating in a research note on Monday. Finally, Wall Street Zen upgraded shares of HighPeak Energy from a "sell" rating to a "hold" rating in a report on Sunday, August 16th. One investment analyst has rated the stock with a Strong Buy rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, HighPeak Energy presently has an average rating of "Moderate Buy".

HighPeak Energy Stock Performance

The stock's fifty day simple moving average is $8.84 and its 200-day simple moving average is $7.17. 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 company has a market capitalization of $918.03 million, a PE ratio of -6.74 and a beta of 0.05.

HighPeak Energy (NASDAQ:HPK - Get Free Report) last announced its quarterly earnings results on Monday, November 9th. The company reported $0.32 EPS for the quarter, topping the consensus estimate of $0.07 by $0.25. The business had revenue of $256.82 million for the quarter, compared to analyst estimates of $241.27 million. HighPeak Energy had a positive return on equity of 0.75% and a negative net margin of 13.84%. On average, research analysts predict that HighPeak Energy, Inc. will post 0.15 earnings per share for the current fiscal year.

Institutional Trading of HighPeak Energy

Institutional investors have recently bought and sold shares of the company. Allworth Financial LP acquired a new stake in HighPeak Energy in the second quarter valued at $37,000. Integrated Wealth Concepts LLC purchased a new position in shares of HighPeak Energy in the second quarter valued at $45,000. Kestra Advisory Services LLC acquired a new position in shares of HighPeak Energy during the 1st quarter worth $70,000. Sequoia Financial Advisors LLC acquired a new position in shares of HighPeak Energy during the 2nd quarter worth $73,000. Finally, Vise Technologies Inc. acquired a new position in shares of HighPeak Energy during the 3rd quarter worth $101,000. 24.13% of the stock is currently owned by hedge funds and other institutional investors.

About HighPeak Energy

HighPeak Energy, Inc. is an independent oil and natural gas exploration and production company. It focuses on acquiring, developing and operating oil and gas properties, with production that includes crude oil, natural gas and natural gas liquids. The company's operations are concentrated in the Permian Basin of West Texas, particularly in Howard and Borden counties. Its activities include drilling and completing wells and managing the infrastructure needed to produce and transport hydrocarbons.

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