Insider Buying: Prairie Operating (NASDAQ:PROP) Major Shareholder Acquires $230,674.50 in Stock

Prairie Operating Co. (NASDAQ:PROP) major shareholder Nominees Pty Ltd Atf Narrogal bought 131,814 shares of the stock in a transaction dated Tuesday, November 18th. The stock was purchased at an average price of $1.75 per share, with a total value of $230,674.50. Following the purchase, the insider owned 12,539,788 shares in the company, valued at $21,944,629. This trade represents a 1.06% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Large shareholders that own more than 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Nominees Pty Ltd Atf Narrogal also recently made the following trade(s):

• On Monday, November 24th, Nominees Pty Ltd Atf Narrogal purchased 3,831 shares of Prairie Operating stock. The stock was purchased at an average cost of $1.70 per share, for a total transaction of $6,512.70.
• On Friday, November 21st, Nominees Pty Ltd Atf Narrogal acquired 236,977 shares of Prairie Operating stock. The shares were purchased at an average cost of $1.69 per share, with a total value of $400,491.13.
• On Thursday, November 20th, Nominees Pty Ltd Atf Narrogal bought 800,000 shares of Prairie Operating stock. The shares were acquired at an average price of $1.71 per share, for a total transaction of $1,368,000.00.
• On Wednesday, November 19th, Nominees Pty Ltd Atf Narrogal bought 199,271 shares of Prairie Operating stock. The stock was acquired at an average cost of $1.72 per share, for a total transaction of $342,746.12.
• On Monday, November 17th, Nominees Pty Ltd Atf Narrogal purchased 168,897 shares of Prairie Operating stock. The stock was acquired at an average price of $1.75 per share, with a total value of $295,569.75.
• On Friday, November 14th, Nominees Pty Ltd Atf Narrogal purchased 199,463 shares of Prairie Operating stock. The shares were acquired at an average cost of $1.73 per share, with a total value of $345,070.99.

Prairie Operating Trading Up 1.1%

NASDAQ:PROP opened at $1.81 on Thursday. The firm has a market capitalization of $107.97 million, a P/E ratio of -0.56 and a beta of 2.07. The company has a debt-to-equity ratio of 4.11, a current ratio of 0.83 and a quick ratio of 0.80. Prairie Operating Co. has a one year low of $1.64 and a one year high of $10.58. The company’s 50-day simple moving average is $1.88 and its 200 day simple moving average is $2.82.

Analyst Ratings Changes

Several analysts recently weighed in on the company. Weiss Ratings restated a “sell (d)” rating on shares of Prairie Operating in a research note on Monday. Piper Sandler dropped their target price on Prairie Operating to $2.00 and set a “neutral” rating on the stock in a report on Tuesday, October 21st. Finally, Wall Street Zen upgraded Prairie Operating from a “sell” rating to a “hold” rating in a report on Saturday, August 16th. Three analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $6.75.

Institutional Trading of Prairie Operating

Hedge funds have recently bought and sold shares of the company. ELCO Management Co. LLC bought a new position in Prairie Operating in the third quarter valued at about $26,000. Bank of America Corp DE increased its position in shares of Prairie Operating by 203.8% during the 2nd quarter. Bank of America Corp DE now owns 9,812 shares of the company’s stock valued at $29,000 after purchasing an additional 6,582 shares during the last quarter. Warther Private Wealth LLC purchased a new stake in shares of Prairie Operating during the 3rd quarter valued at about $31,000. JPMorgan Chase & Co. lifted its stake in shares of Prairie Operating by 411.4% in the 2nd quarter. JPMorgan Chase & Co. now owns 10,740 shares of the company’s stock worth $32,000 after purchasing an additional 8,640 shares during the period. Finally, State of Wyoming purchased a new position in shares of Prairie Operating in the second quarter worth approximately $32,000. Hedge funds and other institutional investors own 34.28% of the company’s stock.

Prairie Operating Company Profile

Prairie Operating Co, an independent energy company, engages in the development, exploration, and production of oil, natural gas, and natural gas liquids in the United States. The company holds assets in the Denver-Julesburg Basin in Colorado; and the Niobrara and Codell formations. Prairie Operating Co is based in Houston Texas.