Insider Buying: Prairie Operating (NASDAQ:PROP) Major Shareholder Buys $1,368,000.00 in Stock

Prairie Operating Co. (NASDAQ:PROP) major shareholder Nominees Pty Ltd Atf Narrogal purchased 800,000 shares of the company’s stock in a transaction that occurred on Thursday, November 20th. The shares were purchased at an average price of $1.71 per share, for a total transaction of $1,368,000.00. Following the completion of the transaction, the insider directly owned 13,539,059 shares of the company’s stock, valued at $23,151,790.89. This represents a 6.28% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Major shareholders that own at least 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 acquired 3,831 shares of Prairie Operating stock. The shares were purchased at an average cost of $1.70 per share, with a total value of $6,512.70.
• On Friday, November 21st, Nominees Pty Ltd Atf Narrogal acquired 236,977 shares of Prairie Operating stock. The stock was acquired at an average price of $1.69 per share, for a total transaction of $400,491.13.
• On Wednesday, November 19th, Nominees Pty Ltd Atf Narrogal bought 199,271 shares of Prairie Operating stock. The shares were acquired at an average price of $1.72 per share, with a total value of $342,746.12.
• On Tuesday, November 18th, Nominees Pty Ltd Atf Narrogal acquired 131,814 shares of Prairie Operating stock. The shares were bought at an average cost of $1.75 per share, with a total value of $230,674.50.
• On Monday, November 17th, Nominees Pty Ltd Atf Narrogal acquired 168,897 shares of Prairie Operating stock. The shares were bought 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 bought 199,463 shares of Prairie Operating stock. The stock was bought at an average cost of $1.73 per share, for a total transaction of $345,070.99.

Prairie Operating Price Performance

Shares of NASDAQ:PROP opened at $1.81 on Thursday. The business has a fifty day moving average price of $1.88 and a 200-day moving average price of $2.82. 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 company has a market capitalization of $107.97 million, a PE ratio of -0.56 and a beta of 2.07. Prairie Operating Co. has a 1-year low of $1.64 and a 1-year high of $10.58.

Institutional Investors Weigh In On Prairie Operating

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Bank of America Corp DE lifted its holdings 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 buying an additional 6,582 shares during the period. State of Wyoming bought a new position in Prairie Operating in the second quarter valued at about $32,000. XTX Topco Ltd purchased a new position in Prairie Operating in the second quarter worth about $32,000. JPMorgan Chase & Co. grew its stake in shares of Prairie Operating by 411.4% during the 2nd quarter. JPMorgan Chase & Co. now owns 10,740 shares of the company’s stock valued at $32,000 after purchasing an additional 8,640 shares during the period. Finally, SageView Advisory Group LLC purchased a new stake in shares of Prairie Operating during the 1st quarter valued at about $59,000. Hedge funds and other institutional investors own 34.28% of the company’s stock.

Analyst Upgrades and Downgrades

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

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.