Prairie Operating (NASDAQ:PROP) Receives Sell (D+) Rating from Weiss Ratings

Weiss Ratings reiterated their sell (d+) rating on shares of Prairie Operating (NASDAQ:PROP) in a report issued on Tuesday,Weiss Ratings reports.

Other equities research analysts also recently issued research reports about the stock. KeyCorp began coverage on shares of Prairie Operating in a research report on Thursday, July 3rd. They issued a “sector weight” rating for the company. Wall Street Zen upgraded shares of Prairie Operating from a “sell” rating to a “hold” rating in a research report on Saturday, August 16th. Finally, Piper Sandler downgraded shares of Prairie Operating from an “overweight” rating to a “neutral” rating in a research report on Monday, August 18th. Three analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Prairie Operating has an average rating of “Hold” and an average price target of $8.50.

Prairie Operating Stock Up 1.6%

Shares of NASDAQ:PROP opened at $1.89 on Tuesday. The company has a debt-to-equity ratio of 4.13, a quick ratio of 0.58 and a current ratio of 0.60. The company has a market cap of $95.03 million, a PE ratio of -0.63 and a beta of 2.12. Prairie Operating has a 52 week low of $1.77 and a 52 week high of $10.58. The firm has a 50 day simple moving average of $2.29 and a 200 day simple moving average of $3.35.

Prairie Operating (NASDAQ:PROP) last issued its quarterly earnings results on Tuesday, August 12th. The company reported $0.18 EPS for the quarter, missing the consensus estimate of $1.28 by ($1.10). The company had revenue of $68.10 million for the quarter, compared to analyst estimates of $125.50 million. As a group, research analysts expect that Prairie Operating will post -2.13 earnings per share for the current year.

Insider Transactions at Prairie Operating

In related news, Director Jonathan H. Gray bought 89,000 shares of the business’s stock in a transaction on Friday, September 5th. The stock was bought at an average price of $2.11 per share, for a total transaction of $187,790.00. Following the transaction, the director directly owned 675,817 shares in the company, valued at $1,425,973.87. This represents a 15.17% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In the last three months, insiders have purchased 442,480 shares of company stock valued at $937,103. 15.44% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. FNY Investment Advisers LLC acquired a new position in shares of Prairie Operating during the 1st quarter worth $42,000. Bank of America Corp DE increased its stake in shares of Prairie Operating by 203.8% during the 2nd quarter. Bank of America Corp DE now owns 9,812 shares of the company’s stock worth $29,000 after purchasing an additional 6,582 shares during the last quarter. State of Wyoming acquired a new position in shares of Prairie Operating during the 2nd quarter worth $32,000. XTX Topco Ltd acquired a new position in shares of Prairie Operating during the 2nd quarter worth $32,000. Finally, JPMorgan Chase & Co. increased its stake in shares of Prairie Operating by 411.4% during the 2nd quarter. JPMorgan Chase & Co. now owns 10,740 shares of the company’s stock worth $32,000 after purchasing an additional 8,640 shares during the last quarter. Institutional investors and hedge funds own 34.28% of the company’s stock.

Prairie Operating Company Profile

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.