HighPeak Energy, Inc. (NASDAQ:HPK – Get Free Report) shot up 6.2% on Wednesday . The stock traded as high as $8.12 and last traded at $8.2020. 81,676 shares traded hands during mid-day trading, a decline of 91% from the average daily volume of 887,987 shares. The stock had previously closed at $7.72.
Analysts Set New Price Targets
Several equities analysts have recently issued reports on HPK shares. Wall Street Zen raised HighPeak Energy from a “sell” rating to a “hold” rating in a research note on Tuesday, June 30th. Zacks Research raised HighPeak Energy from a “strong sell” rating to a “hold” rating in a research note on Monday, May 25th. Finally, Weiss Ratings reiterated a “sell (d)” rating on shares of HighPeak Energy in a report on Wednesday, June 3rd. One analyst has rated the stock with a Strong Buy rating, one has given 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 “Hold” and a consensus price target of $12.00.
Check Out Our Latest Research Report on HPK
HighPeak Energy Price Performance
HighPeak Energy (NASDAQ:HPK – Get Free Report) last issued its quarterly earnings data on Wednesday, May 6th. The company reported ($0.02) EPS for the quarter, hitting the consensus estimate of ($0.02). The business had revenue of $215.89 million during the quarter, compared to analyst estimates of $210.14 million. HighPeak Energy had a negative net margin of 18.78% and a negative return on equity of 0.73%. HighPeak Energy’s quarterly revenue was down 20.7% compared to the same quarter last year. During the same period last year, the business posted $0.31 earnings per share. On average, equities analysts anticipate that HighPeak Energy, Inc. will post -0.08 EPS for the current year.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently made changes to their positions in the company. Cetera Investment Advisers bought a new stake in shares of HighPeak Energy during the first quarter valued at approximately $104,000. Independent Financial Group LLC bought a new position in HighPeak Energy in the first quarter worth $179,000. Bank of New York Mellon Corp raised its holdings in HighPeak Energy by 6.9% in the first quarter. Bank of New York Mellon Corp now owns 868,683 shares of the company’s stock worth $5,994,000 after purchasing an additional 55,955 shares in the last quarter. Hsbc Holdings PLC purchased a new position in HighPeak Energy during the first quarter valued at $255,000. Finally, Kestra Advisory Services LLC purchased a new position in HighPeak Energy during the first quarter valued at $70,000. Hedge funds and other institutional investors own 24.13% of the company’s stock.
About HighPeak Energy
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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