Richard Frommer Acquires 75,500 Shares of Prairie Operating (NASDAQ:PROP) Stock

Prairie Operating Co. (NASDAQ:PROP) Director Richard Frommer bought 75,500 shares of Prairie Operating stock in a transaction on Tuesday, May 19th. The shares were purchased at an average cost of $0.87 per share, for a total transaction of $65,685.00. Following the acquisition, the director owned 205,372 shares in the company, valued at $178,673.64. The trade was a 58.13% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Prairie Operating Trading Up 4.7%

NASDAQ:PROP opened at $0.87 on Friday. The company has a quick ratio of 0.23, a current ratio of 0.24 and a debt-to-equity ratio of 909.21. The business’s 50 day moving average is $1.46 and its two-hundred day moving average is $1.67. Prairie Operating Co. has a 52 week low of $0.77 and a 52 week high of $4.33. The company has a market cap of $66.85 million, a PE ratio of -0.42 and a beta of 1.33.

Analyst Upgrades and Downgrades

A number of research firms have commented on PROP. William Blair set a $3.50 target price on Prairie Operating in a report on Tuesday, March 3rd. Zacks Research downgraded Prairie Operating from a “hold” rating to a “strong sell” rating in a report on Thursday, March 5th. Finally, Wall Street Zen cut Prairie Operating from a “hold” rating to a “sell” rating in a research report on Saturday, May 16th. Two research analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $5.38.

Institutional Trading of Prairie Operating

A number of institutional investors and hedge funds have recently made changes to their positions in PROP. Lazard Asset Management LLC acquired a new stake in shares of Prairie Operating during the 4th quarter worth approximately $1,628,000. Woodline Partners LP acquired a new stake in shares of Prairie Operating during the 1st quarter worth approximately $3,678,000. Marshall Wace LLP acquired a new stake in shares of Prairie Operating during the 2nd quarter worth approximately $860,000. Geode Capital Management LLC raised its position in shares of Prairie Operating by 76.2% during the 2nd quarter. Geode Capital Management LLC now owns 661,390 shares of the company’s stock worth $1,981,000 after purchasing an additional 285,934 shares during the period. Finally, Retirement Planning Group LLC raised its position in shares of Prairie Operating by 772.1% during the 1st quarter. Retirement Planning Group LLC now owns 147,763 shares of the company’s stock worth $300,000 after purchasing an additional 130,819 shares during the period. 34.28% of the stock is currently owned by institutional investors and hedge funds.

About Prairie Operating