Prairie Operating (NASDAQ:PROP) Now Covered by Johnson Rice

Johnson Rice started coverage on shares of Prairie Operating (NASDAQ:PROP) in a research report issued on Monday,Benzinga reports. The brokerage set an “accumulate” rating and a $9.00 price target on the stock. Johnson Rice’s target price points to a potential upside of 100.36% from the company’s previous close.

Separately, Piper Sandler started coverage on Prairie Operating in a report on Wednesday, April 30th. They issued an “overweight” rating and a $11.00 target price for the company.

Prairie Operating Stock Performance

Shares of NASDAQ PROP traded down $0.16 during mid-day trading on Monday, reaching $4.49. 701,522 shares of the company’s stock were exchanged, compared to its average volume of 232,944. Prairie Operating has a 52-week low of $3.35 and a 52-week high of $14.03. The company’s 50-day moving average is $4.90 and its 200-day moving average is $6.90. The firm has a market capitalization of $120.65 million, a price-to-earnings ratio of -1.50 and a beta of 3.13.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Wells Fargo & Company MN raised its holdings in Prairie Operating by 128.0% during the fourth quarter. Wells Fargo & Company MN now owns 4,376 shares of the company’s stock worth $30,000 after purchasing an additional 2,457 shares in the last quarter. FNY Investment Advisers LLC acquired a new stake in Prairie Operating in the 1st quarter worth approximately $42,000. Barclays PLC lifted its position in shares of Prairie Operating by 321.7% during the 3rd quarter. Barclays PLC now owns 5,996 shares of the company’s stock worth $52,000 after purchasing an additional 4,574 shares during the last quarter. JPMorgan Chase & Co. increased its stake in Prairie Operating by 163.4% during the third quarter. JPMorgan Chase & Co. now owns 6,966 shares of the company’s stock valued at $61,000 after acquiring an additional 4,321 shares during the period. Finally, Quotient Wealth Partners LLC bought a new stake in shares of Prairie Operating in the 1st quarter valued at approximately $73,000. Institutional investors and hedge funds own 34.28% of the company’s stock.

Prairie Operating Company Profile

Prairie Operating Co, an independent energy company, engages in the development, exploration, and production of oil, natural gas, and natural gas liquids in the United States. The company holds assets in the Denver-Julesburg Basin in Colorado; and the Niobrara and Codell formations. Prairie Operating Co is based in Houston Texas.