HighPeak Energy (NASDAQ:HPK) Sees Large Volume Increase After Analyst Upgrade

Shares of HighPeak Energy, Inc. (NASDAQ:HPK – Get Free Report) saw unusually-high trading volume on Thursday after Truist Financial raised their price target on the stock from $6.00 to $8.00. Approximately 656,356 shares changed hands during mid-day trading, an increase of 105% from the previous session’s volume of 319,431 shares.The stock last traded at $13.68 and had previously closed at $12.86.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in HPK. Barclays PLC grew its holdings in shares of HighPeak Energy by 555.9% in the 4th quarter. Barclays PLC now owns 1,876 shares of the company’s stock valued at $42,000 after acquiring an additional 1,590 shares in the last quarter. Ellevest Inc. increased its holdings in shares of HighPeak Energy by 165.3% during the fourth quarter. Ellevest Inc. now owns 2,512 shares of the company’s stock worth $57,000 after purchasing an additional 1,565 shares during the period. UBS Group AG increased its holdings in shares of HighPeak Energy by 69.7% during the first quarter. UBS Group AG now owns 2,936 shares of the company’s stock worth $68,000 after purchasing an additional 1,206 shares during the period. Wells Fargo & Company MN increased its holdings in shares of HighPeak Energy by 26.2% during the fourth quarter. Wells Fargo & Company MN now owns 2,945 shares of the company’s stock worth $67,000 after purchasing an additional 612 shares during the period. Finally, Solstein Capital LLC bought a new position in HighPeak Energy in the first quarter valued at approximately $69,000. Institutional investors and hedge funds own 10.91% of the company’s stock.

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HighPeak Energy Price Performance

The business’s 50 day moving average is $13.39 and its 200-day moving average is $20.31. The firm has a market capitalization of $1.54 billion, a P/E ratio of 5.64 and a beta of 0.67. The company has a quick ratio of 0.23, a current ratio of 0.26 and a debt-to-equity ratio of 0.53.

HighPeak Energy (NASDAQ:HPK – Get Free Report) last issued its quarterly earnings results on Wednesday, May 10th. The company reported $0.39 EPS for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.27). The business had revenue of $223.79 million for the quarter, compared to analyst estimates of $250.20 million. HighPeak Energy had a return on equity of 28.51% and a net margin of 34.22%. As a group, sell-side analysts predict that HighPeak Energy, Inc. will post 2.55 EPS for the current fiscal year.

About HighPeak Energy

(Get Free Report)

HighPeak Energy, Inc, an independent oil and natural gas company, engages in the acquisition, exploration, development, and production of oil, natural gas, and natural gas liquids reserves in the Midland Basin in West Texas and Eastern New Mexico. The company was incorporated in 2019 and is headquartered in Fort Worth, Texas.

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