Prairie Operating (NASDAQ:PROP) Raised to Hold at Zacks Research

Prairie Operating (NASDAQ:PROP) was upgraded by analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a research note issued to investors on Monday,Zacks.com reports.

Several other equities research analysts have also weighed in on PROP. William Blair set a $3.50 target price on Prairie Operating in a research report on Tuesday, March 3rd. Wall Street Zen raised Prairie Operating from a “sell” rating to a “hold” rating in a research report on Sunday, May 24th. Finally, Weiss Ratings raised Prairie Operating from a “sell (e-)” rating to a “sell (e)” rating in a research report on Monday, June 1st. Three equities research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Reduce” and an average price target of $2.75.

Prairie Operating Price Performance

Shares of NASDAQ PROP opened at $0.64 on Monday. The company has a debt-to-equity ratio of 909.21, a quick ratio of 0.23 and a current ratio of 0.24. Prairie Operating has a fifty-two week low of $0.63 and a fifty-two week high of $4.33. The firm has a market capitalization of $49.00 million, a PE ratio of -0.30 and a beta of 1.23. The stock’s 50-day simple moving average is $1.09 and its 200-day simple moving average is $1.55.

Insider Buying and Selling

In other news, Director Richard N. Frommer purchased 75,500 shares of the business’s stock in a transaction on Tuesday, May 19th. The shares were bought at an average price of $0.87 per share, with a total value of $65,685.00. Following the completion of the transaction, the director directly owned 205,372 shares in the company, valued at approximately $178,673.64. This represents a 58.13% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 3.09% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Bank of America Corp DE increased its position in 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 buying an additional 6,582 shares during the period. Vanguard Group Inc. increased its stake in Prairie Operating by 0.6% in the third quarter. Vanguard Group Inc. now owns 1,276,221 shares of the company’s stock valued at $2,533,000 after purchasing an additional 7,042 shares during the period. Squarepoint Ops LLC increased its stake in Prairie Operating by 9.3% in the third quarter. Squarepoint Ops LLC now owns 100,607 shares of the company’s stock valued at $200,000 after purchasing an additional 8,572 shares during the period. JPMorgan Chase & Co. increased its stake in 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. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Prairie Operating by 363.9% in the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 11,779 shares of the company’s stock valued at $35,000 after purchasing an additional 9,240 shares during the period. Institutional investors and hedge funds own 34.28% of the company’s stock.

Prairie Operating Company Profile