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 report released on Thursday morning,Zacks.com reports.

Other analysts have also recently issued reports about the company. Weiss Ratings restated a “sell (d)” rating on shares of Prairie Operating in a research report on Monday, December 29th. William Blair set a $3.50 price target on shares of Prairie Operating in a research note on Tuesday. Three equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, Prairie Operating has an average rating of “Hold” and a consensus target price of $6.10.

Prairie Operating Price Performance

PROP stock opened at $1.60 on Thursday. The firm has a 50 day simple moving average of $1.79 and a 200 day simple moving average of $1.89. 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 firm has a market cap of $95.44 million, a PE ratio of -0.49 and a beta of 2.44. Prairie Operating has a 12 month low of $1.50 and a 12 month high of $7.19.

Insider Buying and Selling at Prairie Operating

In other news, major shareholder Nominees Pty Ltd Atf Narrogal bought 210,981 shares of the company’s stock in a transaction that occurred on Monday, December 29th. The stock was acquired at an average price of $1.61 per share, for a total transaction of $339,679.41. Following the transaction, the insider directly owned 15,481,603 shares of the company’s stock, valued at $24,925,380.83. This trade represents a 1.38% increase in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Over the last 90 days, insiders have bought 1,651,736 shares of company stock valued at $2,778,050. 15.44% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Prairie Operating

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Rockefeller Capital Management L.P. increased its holdings in shares of Prairie Operating by 22.8% during the second quarter. Rockefeller Capital Management L.P. now owns 173,151 shares of the company’s stock worth $519,000 after buying an additional 32,145 shares in the last quarter. Russell Investments Group Ltd. boosted its holdings in shares of Prairie Operating by 263.1% in the 4th quarter. Russell Investments Group Ltd. now owns 21,152 shares of the company’s stock worth $36,000 after acquiring an additional 15,326 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Prairie Operating by 363.9% during the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 11,779 shares of the company’s stock worth $35,000 after acquiring an additional 9,240 shares during the last quarter. XTX Topco Ltd acquired a new stake in Prairie Operating during the 2nd quarter valued at $32,000. Finally, State of Wyoming bought a new position in Prairie Operating in the 2nd quarter valued at $32,000. 34.28% of the stock is currently owned by institutional investors and hedge funds.

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.