Stock Traders Buy High Volume of Prairie Operating Call Options (NASDAQ:PROP)

Prairie Operating Co. (NASDAQ:PROP) saw unusually large options trading on Monday. Traders bought 3,261 call options on the company. This represents an increase of 291% compared to the average volume of 834 call options.

Prairie Operating Stock Up 19.4%

PROP stock opened at $1.91 on Tuesday. Prairie Operating has a twelve month low of $1.50 and a twelve month high of $6.90. The company has a current ratio of 0.83, a quick ratio of 0.80 and a debt-to-equity ratio of 4.11. The stock has a market cap of $113.93 million, a P/E ratio of -0.59 and a beta of 2.44. The company’s 50 day moving average is $1.80 and its two-hundred day moving average is $1.88.

Insider Activity at Prairie Operating

In related news, major shareholder Nominees Pty Ltd Atf Narrogal acquired 850,000 shares of Prairie Operating stock in a transaction on Monday, December 15th. The shares were bought at an average cost of $1.69 per share, with a total value of $1,436,500.00. Following the completion of the purchase, the insider directly owned 14,993,279 shares of the company’s stock, valued at $25,338,641.51. The trade was a 6.01% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. In the last ninety days, insiders purchased 1,651,536 shares of company stock worth $2,777,708. 15.44% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in PROP. Engineers Gate Manager LP acquired a new position in shares of Prairie Operating in the fourth quarter worth $25,000. ELCO Management Co. LLC acquired a new position in Prairie Operating in the 3rd quarter valued at $26,000. Retirement Planning Group LLC purchased a new position in shares of Prairie Operating during the 4th quarter worth $29,000. Bank of America Corp DE lifted its position in 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 buying an additional 6,582 shares during the period. Finally, Warther Private Wealth LLC acquired a new position in Prairie Operating during the third quarter worth approximately $31,000. 34.28% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have recently commented on PROP. William Blair set a $3.50 price objective on shares of Prairie Operating in a research note on Tuesday, March 3rd. Weiss Ratings restated a “sell (d)” rating on shares of Prairie Operating in a research note on Monday, December 29th. Finally, Zacks Research downgraded Prairie Operating from a “hold” rating to a “strong sell” rating in a research report on Thursday, March 5th. Three equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $6.10.

About Prairie Operating

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.