Prairie Operating (NASDAQ:PROP) Earns Overweight Rating from Analysts at Piper Sandler

Piper Sandler began coverage on shares of Prairie Operating (NASDAQ:PROP) in a research report sent to investors on Wednesday, MarketBeat reports. The brokerage issued an overweight rating and a $11.00 price target on the stock.

Prairie Operating Trading Down 0.9 %

PROP stock opened at $4.38 on Wednesday. The stock has a market cap of $117.64 million, a P/E ratio of -1.46 and a beta of 2.03. The stock’s fifty day simple moving average is $5.16 and its two-hundred day simple moving average is $7.07. Prairie Operating has a 1-year low of $3.35 and a 1-year high of $14.90.

Institutional Trading of Prairie Operating

Several hedge funds have recently added to or reduced their stakes in the stock. Wells Fargo & Company MN increased its stake in shares of Prairie Operating by 128.0% during the 4th quarter. Wells Fargo & Company MN now owns 4,376 shares of the company’s stock worth $30,000 after purchasing an additional 2,457 shares during the last quarter. Barclays PLC raised its stake in shares of Prairie Operating by 321.7% in the third quarter. Barclays PLC now owns 5,996 shares of the company’s stock valued at $52,000 after buying an additional 4,574 shares during the period. JPMorgan Chase & Co. lifted its position in shares of Prairie Operating by 163.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 6,966 shares of the company’s stock valued at $61,000 after buying an additional 4,321 shares during the last quarter. FNY Investment Advisers LLC purchased a new position in shares of Prairie Operating during the 1st quarter valued at $42,000. Finally, Navigation Wealth Management Inc. bought a new position in shares of Prairie Operating during the 4th quarter worth $83,000. Institutional investors own 34.28% of the company’s stock.

About Prairie Operating

Prairie Operating Co, an independent energy company, engages in the development, exploration, and production of oil, natural gas, and natural gas liquids in the United States. The company holds assets in the Denver-Julesburg Basin in Colorado; and the Niobrara and Codell formations. Prairie Operating Co is based in Houston Texas.