Prairie Operating (NASDAQ:PROP) Trading Up 0.6% – Here’s Why

Prairie Operating Co. (NASDAQ:PROP)’s stock price was up 0.6% on Friday . The stock traded as high as $1.80 and last traded at $1.75. Approximately 817,210 shares were traded during mid-day trading, a decline of 36% from the average daily volume of 1,280,642 shares. The stock had previously closed at $1.74.

Analyst Upgrades and Downgrades

Several brokerages have commented on PROP. Piper Sandler decreased their price objective on shares of Prairie Operating to $2.00 and set a “neutral” rating for the company in a research note on Tuesday, October 21st. Weiss Ratings restated a “sell (d)” rating on shares of Prairie Operating in a research report on Monday, December 29th. Finally, Zacks Research raised shares of Prairie Operating to a “hold” rating in a report on Thursday, January 1st. Three research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $6.75.

Prairie Operating Price Performance

The stock has a market capitalization of $104.39 million, a PE ratio of -0.54 and a beta of 2.45. The company has a debt-to-equity ratio of 4.11, a current ratio of 0.83 and a quick ratio of 0.80. The stock’s fifty day moving average is $1.78 and its 200-day moving average is $2.03.

Insider Activity at Prairie Operating

In other Prairie Operating news, major shareholder Nominees Pty Ltd Atf Narrogal purchased 210,981 shares of the business’s stock in a transaction that occurred on Monday, December 29th. The stock was purchased at an average price of $1.61 per share, for a total transaction of $339,679.41. Following the purchase, the insider directly owned 15,481,603 shares in the company, valued at approximately $24,925,380.83. This trade represents a 1.38% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In the last 90 days, insiders bought 3,242,526 shares of company stock worth $5,508,044. 15.44% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the stock. ELCO Management Co. LLC purchased a new stake in Prairie Operating during the 3rd quarter worth approximately $26,000. Retirement Planning Group LLC acquired a new stake in shares of Prairie Operating in the fourth quarter worth approximately $29,000. Bank of America Corp DE increased its position in shares of Prairie Operating by 203.8% during the second 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 in the last quarter. Warther Private Wealth LLC purchased a new stake in shares of Prairie Operating during the third quarter worth approximately $31,000. Finally, JPMorgan Chase & Co. raised its stake in Prairie Operating by 411.4% in the 2nd quarter. JPMorgan Chase & Co. now owns 10,740 shares of the company’s stock valued at $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 (NASDAQ: PROP) is a publicly traded independent exploration and production company focused on the acquisition, development and operation of onshore oil and natural gas properties in the United States. The firm seeks to identify and capitalize on undervalued or overlooked assets, applying a disciplined approach to drilling, completion and production optimization. By concentrating on core resource plays, Prairie Operating aims to deliver steady production growth and free cash flow.

The company’s asset base is concentrated in the Permian Basin region of West Texas and southeastern New Mexico, where it holds working interests in both conventional and unconventional reservoirs.