Investors Purchase High Volume of Prairie Operating Call Options (NASDAQ:PROP)

Prairie Operating Co. (NASDAQ:PROP) saw unusually large options trading activity on Thursday. Traders purchased 8,313 call options on the company. This is an increase of approximately 344% compared to the average volume of 1,871 call options.

Analysts Set New Price Targets

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

Prairie Operating Trading Up 14.0%

Shares of NASDAQ:PROP opened at $2.04 on Friday. The stock has a 50 day moving average of $1.78 and a 200 day moving average of $1.83. The company has a market cap of $121.69 million, a PE ratio of -0.63 and a beta of 2.44. The company has a current ratio of 0.83, a quick ratio of 0.80 and a debt-to-equity ratio of 4.11. Prairie Operating has a 12-month low of $1.31 and a 12-month high of $5.99.

Insider Activity

In other Prairie Operating news, major shareholder Nominees Pty Ltd Atf Narrogal bought 210,981 shares of the business’s stock in a transaction that occurred on Monday, December 29th. The stock was bought at an average cost of $1.61 per share, for a total transaction of $339,679.41. Following the completion of the transaction, the insider owned 15,481,603 shares of the company’s stock, valued at $24,925,380.83. This represents a 1.38% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 15.44% of the company’s stock.

Hedge Funds Weigh In On Prairie Operating

Hedge funds have recently modified their holdings of the company. Vanguard Group Inc. increased its stake in shares of Prairie Operating by 0.6% in the third quarter. Vanguard Group Inc. now owns 1,276,221 shares of the company’s stock worth $2,533,000 after purchasing an additional 7,042 shares in the last quarter. Lazard Asset Management LLC bought a new stake in shares of Prairie Operating during the 4th quarter valued at $1,628,000. Geode Capital Management LLC lifted its stake in shares of Prairie Operating by 17.1% during the 4th quarter. Geode Capital Management LLC now owns 778,434 shares of the company’s stock valued at $1,316,000 after buying an additional 113,720 shares in the last quarter. Woodline Partners LP bought a new position in Prairie Operating in the 1st quarter worth $3,678,000. Finally, Marshall Wace LLP bought a new position in Prairie Operating in the 2nd quarter worth $860,000. 34.28% of the stock is currently owned by institutional investors.

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.