Shares of HighPeak Energy, Inc. (NASDAQ:HPK – Get Free Report) dropped 4.3% during trading on Tuesday . The stock traded as low as $7.61 and last traded at $7.5020. Approximately 20,658 shares changed hands during mid-day trading, a decline of 98% from the average daily volume of 960,451 shares. The stock had previously closed at $7.84.
Wall Street Analysts Forecast Growth
HPK has been the topic of several research reports. Wall Street Zen downgraded shares of HighPeak Energy from a “hold” rating to a “sell” rating in a research note on Saturday, June 6th. Zacks Research upgraded shares of HighPeak Energy from a “strong sell” rating to a “hold” rating in a research note on Monday, May 25th. Finally, Weiss Ratings restated a “sell (d)” rating on shares of HighPeak Energy in a research note on Wednesday, June 3rd. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, HighPeak Energy presently has an average rating of “Hold” and a consensus target price of $12.00.
View Our Latest Analysis on HighPeak Energy
HighPeak Energy Price Performance
HighPeak Energy (NASDAQ:HPK – Get Free Report) last announced its quarterly earnings data on Wednesday, May 6th. The company reported ($0.02) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.02). The firm had revenue of $215.89 million for the quarter, compared to the consensus estimate of $210.14 million. HighPeak Energy had a negative net margin of 18.78% and a negative return on equity of 0.73%. The business’s revenue for the quarter was down 20.7% on a year-over-year basis. During the same period in the prior year, the company posted $0.31 earnings per share. On average, research analysts forecast that HighPeak Energy, Inc. will post -0.14 earnings per share for the current year.
Institutional Investors Weigh In On HighPeak Energy
A number of hedge funds have recently made changes to their positions in the stock. Empowered Funds LLC boosted its stake in shares of HighPeak Energy by 1.9% in the 1st quarter. Empowered Funds LLC now owns 186,174 shares of the company’s stock valued at $2,357,000 after purchasing an additional 3,431 shares in the last quarter. Alliancebernstein L.P. boosted its stake in shares of HighPeak Energy by 8.1% in the 3rd quarter. Alliancebernstein L.P. now owns 46,540 shares of the company’s stock valued at $329,000 after purchasing an additional 3,500 shares in the last quarter. Strs Ohio acquired a new stake in shares of HighPeak Energy in the 1st quarter valued at approximately $60,000. Intech Investment Management LLC boosted its stake in shares of HighPeak Energy by 46.4% in the 3rd quarter. Intech Investment Management LLC now owns 15,251 shares of the company’s stock valued at $108,000 after purchasing an additional 4,831 shares in the last quarter. Finally, Rhumbline Advisers boosted its stake in shares of HighPeak Energy by 23.6% in the 2nd quarter. Rhumbline Advisers now owns 25,483 shares of the company’s stock valued at $250,000 after purchasing an additional 4,864 shares in the last quarter. 24.13% of the stock is currently owned by institutional investors and hedge funds.
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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