Insider Buying: Prairie Operating (NASDAQ:PROP) Director Buys $12,600.00 in Stock

Prairie Operating Co. (NASDAQ:PROP) Director Richard Frommer bought 28,000 shares of the stock in a transaction on Thursday, September 3rd. The stock was purchased at an average cost of $0.45 per share, with a total value of $12,600.00. Following the completion of the purchase, the director directly owned 333,372 shares in the company, valued at $150,017.40. This trade represents a 9.17% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Prairie Operating Trading Down 5.3%

PROP traded down $0.02 during trading on Friday, hitting $0.38. The company’s stock had a trading volume of 911,645 shares, compared to its average volume of 1,035,205. Prairie Operating Co. has a twelve month low of $0.37 and a twelve month high of $2.55. The stock has a market cap of $42.40 million, a PE ratio of 0.99 and a beta of 1.23. The firm’s 50 day moving average price is $0.56 and its 200-day moving average price is $0.92. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.25 and a quick ratio of 0.23.

Prairie Operating (NASDAQ:PROP) last posted its quarterly earnings data on Friday, August 14th. The company reported $0.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.02 by $0.21. The business had revenue of $98.86 million for the quarter. Prairie Operating had a positive return on equity of 46.53% and a negative net margin of 13.02%. On average, analysts expect that Prairie Operating Co. will post 0.51 earnings per share for the current year.

Wall Street Analysts Forecast Growth

PROP has been the topic of a number of research analyst reports. Weiss Ratings raised Prairie Operating from a “sell (e)” rating to a “sell (e+)” rating in a research note on Thursday, September 10th. Zacks Research downgraded shares of Prairie Operating from a “hold” rating to a “strong sell” rating in a research note on Wednesday, July 15th. Wall Street Zen upgraded shares of Prairie Operating from a “sell” rating to a “hold” rating in a report on Saturday, August 22nd. Finally, Roth Capital reissued a “buy” rating and issued a $2.00 target price on shares of Prairie Operating in a research report on Monday, August 17th. One research analyst has rated the stock with a Buy rating, one has issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, Prairie Operating has an average rating of “Reduce” and a consensus price target of $2.50.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Corient Private Wealth LP grew its position in Prairie Operating by 519.0% during the second quarter. Corient Private Wealth LP now owns 433,189 shares of the company’s stock valued at $313,000 after acquiring an additional 363,209 shares during the period. Two Sigma Securities LLC purchased a new position in shares of Prairie Operating in the 2nd quarter worth about $77,000. Hsbc Holdings PLC purchased a new position in shares of Prairie Operating in the 2nd quarter worth about $154,000. Wellington Management Group LLP purchased a new position in shares of Prairie Operating in the 2nd quarter worth about $179,000. Finally, Bank of America Corp DE acquired a new position in shares of Prairie Operating in the 2nd quarter valued at about $135,000. Institutional investors and hedge funds own 34.28% of the company’s stock.

About Prairie Operating