2,412,500 Shares of Prairie Operating Co. $PROP Acquired by SL Advisors LLC

SL Advisors LLC acquired a new position in shares of Prairie Operating Co. (NASDAQ:PROP) during the 3rd quarter, Holdings Channel reports. The fund acquired 2,412,500 shares of the company’s stock, valued at approximately $993,000. Prairie Operating comprises about 2.0% of SL Advisors LLC’s investment portfolio, making the stock its 14th largest holding.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Cibc World Market Inc. bought a new stake in shares of Prairie Operating in the 2nd quarter valued at approximately $82,000. Ieq Capital LLC bought a new position in shares of Prairie Operating during the 2nd quarter valued at approximately $128,000. BlackRock Inc. purchased a new stake in Prairie Operating during the 2nd quarter valued at $635,000. GSA Capital Partners LLP bought a new stake in Prairie Operating in the second quarter worth $191,000. Finally, Bank of America Corp DE lifted its position in Prairie Operating by 526.3% in the first quarter. Bank of America Corp DE now owns 135,897 shares of the company’s stock worth $276,000 after buying an additional 114,199 shares during the last quarter. 34.28% of the stock is currently owned by hedge funds and other institutional investors.

Prairie Operating Stock Down 5.0%

Shares of PROP stock traded down $0.02 on Tuesday, hitting $0.39. The stock had a trading volume of 780,081 shares, compared to its average volume of 2,760,025. The company has a quick ratio of 0.23, a current ratio of 0.25 and a debt-to-equity ratio of 1.96. The business has a 50 day moving average price of $0.53 and a 200 day moving average price of $0.86. The company has a market cap of $43.88 million, a PE ratio of -0.19 and a beta of 1.23. Prairie Operating Co. has a one year low of $0.37 and a one year high of $2.55.

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

Wall Street Analyst Weigh In

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

Prairie Operating Company Profile