Prairie Operating Co. (NASDAQ:PROP) Receives Average Rating of “Reduce” from Brokerages

Shares of Prairie Operating Co. (NASDAQ:PROP) have earned a consensus rating of “Reduce” from the five brokerages that are presently covering the stock, MarketBeat Ratings reports. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and one has assigned a buy rating to the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $4.50.

A number of research firms recently issued reports on PROP. William Blair set a $3.50 target price on shares of Prairie Operating in a report on Tuesday, March 3rd. Zacks Research lowered shares of Prairie Operating from a “hold” rating to a “strong sell” rating in a report on Thursday, March 5th. Wall Street Zen raised shares of Prairie Operating from a “sell” rating to a “hold” rating in a research note on Sunday, May 24th. Finally, Weiss Ratings upgraded Prairie Operating from a “sell (e-)” rating to a “sell (e)” rating in a report on Monday.

Prairie Operating Trading Down 5.1%

NASDAQ PROP opened at $0.91 on Thursday. The company has a market cap of $69.53 million, a P/E ratio of -0.43 and a beta of 1.23. Prairie Operating has a 12 month low of $0.77 and a 12 month high of $4.33. The company has a debt-to-equity ratio of 909.21, a current ratio of 0.24 and a quick ratio of 0.23. The company has a 50-day moving average of $1.32 and a 200-day moving average of $1.61.

Insider Buying and Selling

In other news, Director Richard N. Frommer purchased 75,500 shares of the company’s stock in a transaction on Tuesday, May 19th. The stock was bought at an average cost of $0.87 per share, for a total transaction of $65,685.00. Following the completion of the purchase, the director directly owned 205,372 shares of the company’s stock, valued at $178,673.64. The trade was a 58.13% increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. 3.09% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Prairie Operating

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Bank of America Corp DE increased its stake 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 acquiring an additional 6,582 shares during the last quarter. Vanguard Group Inc. increased its stake in Prairie Operating by 0.6% during the third quarter. Vanguard Group Inc. now owns 1,276,221 shares of the company’s stock worth $2,533,000 after acquiring an additional 7,042 shares during the last quarter. Squarepoint Ops LLC increased its stake in Prairie Operating by 9.3% during the third quarter. Squarepoint Ops LLC now owns 100,607 shares of the company’s stock worth $200,000 after acquiring an additional 8,572 shares during the last quarter. JPMorgan Chase & Co. increased its stake in Prairie Operating by 411.4% during the second quarter. JPMorgan Chase & Co. now owns 10,740 shares of the company’s stock worth $32,000 after acquiring an additional 8,640 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Prairie Operating by 363.9% during the second 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. 34.28% of the stock is currently owned by institutional investors and hedge funds.

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