Prairie Operating (NASDAQ:PROP) Cut to Strong Sell at Zacks Research

Zacks Research downgraded shares of Prairie Operating (NASDAQ:PROP) from a hold rating to a strong sell rating in a research report sent to investors on Wednesday morning,Zacks.com reports.

A number of other research analysts have also recently commented on PROP. Wall Street Zen raised shares of Prairie Operating from a “sell” rating to a “hold” rating in a research report on Sunday, May 24th. Weiss Ratings raised shares of Prairie Operating from a “sell (e-)” rating to a “sell (e)” rating in a report on Monday, June 1st. One analyst has rated the stock with a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Sell” and an average target price of $2.75.

Prairie Operating Trading Up 8.2%

NASDAQ:PROP opened at $0.78 on Wednesday. The firm has a market capitalization of $59.46 million, a PE ratio of -0.37 and a beta of 1.25. The company has a debt-to-equity ratio of 909.21, a current ratio of 0.24 and a quick ratio of 0.23. Prairie Operating has a 12 month low of $0.58 and a 12 month high of $4.33. The business’s 50-day moving average is $0.80 and its two-hundred day moving average is $1.39.

Insider Activity at Prairie Operating

In other Prairie Operating news, Director Richard N. Frommer purchased 75,500 shares of Prairie Operating stock in a transaction that occurred on Tuesday, May 19th. The stock was purchased at an average price of $0.87 per share, with a total value of $65,685.00. Following the completion of the acquisition, the director owned 205,372 shares of the company’s stock, valued at approximately $178,673.64. This trade represents a 58.13% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 3.09% of the company’s stock.

Institutional Investors Weigh In On Prairie Operating

Hedge funds and other institutional investors have recently bought and sold shares of the business. Woodline Partners LP purchased a new position in shares of Prairie Operating during the 1st quarter valued at approximately $3,678,000. Geode Capital Management LLC raised its holdings in Prairie Operating by 76.2% in the second quarter. Geode Capital Management LLC now owns 661,390 shares of the company’s stock valued at $1,981,000 after acquiring an additional 285,934 shares in the last quarter. Cetera Investment Advisers raised its holdings in Prairie Operating by 90.5% in the second quarter. Cetera Investment Advisers now owns 19,745 shares of the company’s stock valued at $59,000 after acquiring an additional 9,379 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in Prairie Operating by 411.4% during the 2nd quarter. JPMorgan Chase & Co. now owns 10,740 shares of the company’s stock valued at $32,000 after acquiring an additional 8,640 shares during the last quarter. Finally, American Century Companies Inc. bought a new position in Prairie Operating during the 2nd quarter valued at $46,000. 34.28% of the stock is currently owned by hedge funds and other institutional investors.

Prairie Operating Company Profile