HighPeak Energy (NASDAQ:HPK) Stock Price Down 5% - Here's What Happened

Key Points

• HighPeak Energy shares fell 5% in Monday mid-day trading, slipping from a previous close of $7.14 to about $6.78. Trading volume was roughly 294,000 shares, 62% below the average session volume.
• Analyst views remained cautious: one analyst rated the stock Hold and one Sell, giving it a MarketBeat average rating of “Reduce.”
• In its latest reported quarter, HighPeak posted EPS of $0.59 versus estimates of $0.02 and revenue of $272.42 million, up 25.8% year over year.

HighPeak Energy, Inc. (NASDAQ:HPK - Get Free Report) shares were down 5% during mid-day trading on Monday. The company traded as low as $6.77 and last traded at $6.7820. Approximately 294,341 shares changed hands during mid-day trading, a decline of 62% from the average session volume of 769,827 shares. The stock had previously closed at $7.14.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on HPK shares. Weiss Ratings upgraded shares of HighPeak Energy from a "sell (d)" rating to a "sell (d+)" rating in a research report on Monday, November 2nd. Wall Street Zen upgraded shares of HighPeak Energy from a "sell" rating to a "hold" rating in a report on Sunday, August 16th. One equities research analyst has rated the stock with a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, HighPeak Energy presently has an average rating of "Reduce".

HighPeak Energy Price Performance

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 cap of $850.90 million, a price-to-earnings ratio of -8.48 and a beta of 0.05. The stock's 50-day simple moving average is $8.89 and its 200 day simple moving average is $7.14.

HighPeak Energy (NASDAQ:HPK - Get Free Report) last released 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 business had revenue of $272.42 million for the quarter, compared to the consensus estimate of $240.03 million. HighPeak Energy had a negative net margin of 10.52% and a negative return on equity of 1.44%. The business's revenue was up 25.8% on a year-over-year basis. During the same period in the previous year, the firm earned $0.10 EPS. On average, equities research analysts anticipate that HighPeak Energy, Inc. will post 0.15 EPS for the current fiscal year.

Institutional Investors Weigh In On HighPeak Energy

A number of institutional investors have recently modified their holdings of the company. Russell Investments Group Ltd. lifted its position in shares of HighPeak Energy by 340.7% during the third quarter. Russell Investments Group Ltd. now owns 96,488 shares of the company's stock worth $787,000 after purchasing an additional 74,593 shares in the last quarter. Vise Technologies Inc. purchased a new position in shares of HighPeak Energy in the third quarter valued at approximately $101,000. Counterpoint Mutual Funds LLC acquired a new position in shares of HighPeak Energy in the third quarter valued at approximately $709,000. State of Alaska Department of Revenue grew its holdings 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 valued at $208,000 after purchasing an additional 4,036 shares in the last quarter. Finally, Sequoia Financial Advisors LLC acquired a new position in shares of HighPeak Energy in the second quarter valued at approximately $73,000. 24.13% of the stock is owned by institutional investors and hedge funds.

About HighPeak Energy

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.

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.