HighPeak Energy, Inc. (NASDAQ:HPK – Get Free Report) shares fell 8.9% during trading on Wednesday . The company traded as low as $6.62 and last traded at $6.54. 43,266 shares changed hands during mid-day trading, a decline of 95% from the average session volume of 944,256 shares. The stock had previously closed at $7.18.
Wall Street Analysts Forecast Growth
Several research analysts recently weighed in on the company. Wall Street Zen cut HighPeak Energy from a “hold” rating to a “sell” rating in a research report on Monday. Zacks Research raised shares of HighPeak Energy from a “strong sell” rating to a “hold” rating in a report on Monday, May 25th. Finally, Weiss Ratings reiterated a “sell (d)” rating on shares of HighPeak Energy in a research note on Wednesday, June 3rd. One analyst has rated the stock with a Strong Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $12.00.
Check Out Our Latest Analysis on HighPeak Energy
HighPeak Energy Stock Up 2.8%
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, meeting the consensus estimate of ($0.02). The company had revenue of $215.89 million for the quarter, compared to analyst estimates of $210.14 million. HighPeak Energy had a negative return on equity of 0.73% and a negative net margin of 18.78%.HighPeak Energy’s quarterly revenue was down 20.7% compared to the same quarter last year. During the same period last year, the company earned $0.31 earnings per share. As a group, equities analysts anticipate that HighPeak Energy, Inc. will post -0.14 EPS for the current fiscal year.
Institutional Investors Weigh In On HighPeak Energy
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Caitong International Asset Management Co. Ltd acquired a new position in HighPeak Energy during the fourth quarter worth $29,000. Stokes Family Office LLC acquired a new stake in shares of HighPeak Energy in the fourth quarter valued at about $48,000. Raymond James Financial Inc. acquired a new stake in shares of HighPeak Energy in the second quarter valued at about $49,000. State of Alaska Department of Revenue increased its stake in shares of HighPeak Energy by 135.5% during the fourth quarter. State of Alaska Department of Revenue now owns 10,624 shares of the company’s stock worth $50,000 after purchasing an additional 6,112 shares in the last quarter. Finally, The Manufacturers Life Insurance Company purchased a new stake in shares of HighPeak Energy during the fourth quarter worth about $51,000. Hedge funds and other institutional investors own 24.13% of the company’s stock.
HighPeak Energy Company Profile
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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