HighPeak Energy (NASDAQ:HPK) Shares Up 10% – Here’s What Happened
by Amy Steele · The Cerbat GemHighPeak Energy, Inc. (NASDAQ:HPK – Get Free Report)’s stock price traded up 10% during mid-day trading on Wednesday . The company traded as high as $5.06 and last traded at $5.1150. 462,302 shares changed hands during mid-day trading, a decline of 47% from the average session volume of 868,156 shares. The stock had previously closed at $4.65.
Analysts Set New Price Targets
A number of equities research analysts recently weighed in on HPK shares. Zacks Research cut HighPeak Energy from a “hold” rating to a “strong sell” rating in a research note on Monday, February 2nd. Weiss Ratings reiterated a “sell (d+)” rating on shares of HighPeak Energy in a report on Monday, December 29th. Finally, Wall Street Zen cut shares of HighPeak Energy from a “hold” rating to a “sell” rating in a report on Sunday, October 26th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Reduce” and a consensus price target of $11.67.
Get Our Latest Stock Analysis on HighPeak Energy
HighPeak Energy Stock Up 10.2%
The company has a 50-day moving average of $4.60 and a 200-day moving average of $6.22. The company has a current ratio of 1.65, a quick ratio of 1.58 and a debt-to-equity ratio of 0.71. The company has a market capitalization of $639.25 million, a price-to-earnings ratio of 14.14 and a beta of 0.64.
Institutional Trading of HighPeak Energy
Large investors have recently bought and sold shares of the stock. State of Alaska Department of Revenue purchased a new position in shares of HighPeak Energy in the third quarter worth $31,000. Strs Ohio purchased a new position in HighPeak Energy in the 1st quarter worth $60,000. Raymond James Financial Inc. purchased a new position in HighPeak Energy in the 2nd quarter worth $49,000. The Manufacturers Life Insurance Company acquired a new stake in HighPeak Energy during the 4th quarter worth about $51,000. Finally, Arrowstreet Capital Limited Partnership purchased a new stake in HighPeak Energy during the 2nd quarter valued at about $109,000. 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.