Prairie Operating (NASDAQ:PROP) Downgraded to “Strong Sell” Rating by Zacks Research

Zacks Research cut shares of Prairie Operating (NASDAQ:PROP) from a hold rating to a strong sell rating in a research note issued to investors on Wednesday morning,Zacks.com reports.

PROP has been the subject of a number of other reports. Wall Street Zen upgraded shares of Prairie Operating from a “sell” rating to a “hold” rating in a research report on Sunday, May 24th. Weiss Ratings upgraded shares of Prairie Operating from a “sell (e-)” rating to a “sell (e)” rating in a research report on Monday, June 1st. One analyst has rated the stock with a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, Prairie Operating has a consensus rating of “Sell” and a consensus target price of $2.75.

Prairie Operating Price Performance

Prairie Operating stock opened at $0.72 on Wednesday. The company’s fifty day moving average price is $0.81 and its 200 day moving average price is $1.39. Prairie Operating has a 1 year low of $0.58 and a 1 year high of $4.33. The stock has a market capitalization of $54.94 million, a P/E ratio of -0.34 and a beta of 1.25. The company has a debt-to-equity ratio of 909.21, a quick ratio of 0.23 and a current ratio of 0.24.

Insider Buying and Selling at Prairie Operating

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

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Lazard Asset Management LLC acquired a new stake in Prairie Operating during the 4th quarter worth $1,628,000. Woodline Partners LP acquired a new stake in shares of Prairie Operating in the first quarter valued at about $3,678,000. Marshall Wace LLP acquired a new stake in shares of Prairie Operating in the second quarter valued at about $860,000. Geode Capital Management LLC lifted its stake in shares of Prairie Operating by 76.2% in the second quarter. Geode Capital Management LLC now owns 661,390 shares of the company’s stock worth $1,981,000 after buying an additional 285,934 shares in the last quarter. Finally, Retirement Planning Group LLC lifted its stake in shares of Prairie Operating by 772.1% in the first quarter. Retirement Planning Group LLC now owns 147,763 shares of the company’s stock worth $300,000 after buying an additional 130,819 shares in the last quarter. 34.28% of the stock is owned by institutional investors and hedge funds.

About Prairie Operating