Prairie Operating (NASDAQ:PROP) Cut to Sell at Wall Street Zen

Wall Street Zen downgraded shares of Prairie Operating (NASDAQ:PROP) from a hold rating to a sell rating in a report released on Saturday morning.

PROP has been the subject of a number of other reports. Weiss Ratings raised shares of Prairie Operating from a “sell (e-)” rating to a “sell (e)” rating in a report on Monday, June 1st. Zacks Research downgraded shares of Prairie Operating from a “hold” rating to a “strong sell” rating in a research note on Wednesday, July 15th. One equities research analyst has rated the stock with a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, Prairie Operating currently has a consensus rating of “Sell” and an average price target of $2.75.

Prairie Operating Price Performance

NASDAQ:PROP opened at $0.80 on Friday. The business’s 50-day moving average is $0.80 and its 200 day moving average is $1.38. Prairie Operating has a 12 month low of $0.58 and a 12 month high of $4.33. The company has a market capitalization of $61.30 million, a P/E ratio of -0.38 and a beta of 1.25. The company has a current ratio of 0.24, a quick ratio of 0.23 and a debt-to-equity ratio of 909.21.

Insider Activity at Prairie Operating

In related news, Director Richard N. Frommer bought 75,500 shares of the business’s stock in a transaction dated Tuesday, May 19th. The shares were purchased at an average price of $0.87 per share, with a total value of $65,685.00. Following the transaction, the director owned 205,372 shares in the company, valued at $178,673.64. This trade represents a 58.13% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 3.09% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Engineers Gate Manager LP bought a new stake in shares of Prairie Operating in the 4th quarter worth about $25,000. Bank of America Corp DE increased its position in shares of 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 period. Retirement Planning Group LLC purchased a new position in shares of Prairie Operating during the fourth quarter worth approximately $29,000. Warther Private Wealth LLC bought a new stake in shares of Prairie Operating during the third quarter valued at approximately $31,000. Finally, JPMorgan Chase & Co. boosted its holdings in shares of Prairie Operating by 411.4% in the second 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. Institutional investors own 34.28% of the company’s stock.

About Prairie Operating