Short Interest in HighPeak Energy, Inc. (NASDAQ:HPK) Increases By 15.0%

HighPeak Energy, Inc. (NASDAQ:HPK) saw a large increase in short interest in September. As of September 30th, there was short interest totalling 5,440,000 shares, an increase of 15.0% from the September 15th total of 4,730,000 shares. Based on an average daily trading volume, of 329,800 shares, the short-interest ratio is currently 16.5 days. Currently, 28.1% of the shares of the stock are sold short.

HighPeak Energy Trading Up 1.3 %

NASDAQ HPK traded up $0.18 on Wednesday, reaching $14.28. The stock had a trading volume of 165,033 shares, compared to its average volume of 332,323. The stock has a fifty day moving average price of $14.89 and a two-hundred day moving average price of $14.98. HighPeak Energy has a 12-month low of $12.20 and a 12-month high of $18.42. The company has a quick ratio of 0.90, a current ratio of 0.93 and a debt-to-equity ratio of 0.62. The firm has a market capitalization of $1.83 billion, a price-to-earnings ratio of 11.52 and a beta of 0.68.

HighPeak Energy (NASDAQ:HPK) last issued its quarterly earnings results on Monday, August 5th. The company reported $0.28 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.50 by ($0.22). The business had revenue of $275.30 million for the quarter, compared to analyst estimates of $282.56 million. HighPeak Energy had a return on equity of 15.99% and a net margin of 14.05%. The firm’s revenue for the quarter was up 14.3% compared to the same quarter last year. During the same period in the prior year, the company posted $0.28 EPS. As a group, sell-side analysts forecast that HighPeak Energy will post 0.91 EPS for the current fiscal year.

HighPeak Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 25th. Shareholders of record on Tuesday, September 3rd were paid a $0.04 dividend. The ex-dividend date was Tuesday, September 3rd. This represents a $0.16 annualized dividend and a dividend yield of 1.12%. HighPeak Energy’s dividend payout ratio (DPR) is 12.90%.

Wall Street Analysts Forecast Growth

Separately, Truist Financial cut their price target on shares of HighPeak Energy from $14.00 to $12.00 and set a “hold” rating for the company in a report on Monday, September 30th.

Insiders Place Their Bets

In related news, CEO Jack Hightower bought 100,000 shares of the company’s stock in a transaction on Friday, September 20th. The stock was bought at an average cost of $15.54 per share, for a total transaction of $1,554,000.00. Following the acquisition, the chief executive officer now directly owns 4,959,255 shares in the company, valued at $77,066,822.70. This represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In the last three months, insiders bought 203,821 shares of company stock worth $3,154,206. Corporate insiders own 77.50% of the company’s stock.

Institutional Trading of HighPeak Energy

A number of large investors have recently modified their holdings of the stock. Blue Trust Inc. purchased a new stake in HighPeak Energy during the 2nd quarter worth about $40,000. EverSource Wealth Advisors LLC purchased a new stake in shares of HighPeak Energy during the first quarter worth approximately $44,000. Innealta Capital LLC acquired a new stake in HighPeak Energy in the second quarter valued at approximately $86,000. SG Americas Securities LLC acquired a new stake in HighPeak Energy in the third quarter valued at approximately $107,000. Finally, Solstein Capital LLC lifted its stake in HighPeak Energy by 33.3% in the second quarter. Solstein Capital LLC now owns 8,000 shares of the company’s stock worth $112,000 after acquiring an additional 2,000 shares during the last quarter. Hedge funds and other institutional investors own 24.13% of the company’s stock.

About HighPeak Energy

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