Prairie Operating (NASDAQ:PROP) Major Shareholder Buys $400,491.13 in Stock

Prairie Operating Co. (NASDAQ:PROP) major shareholder Nominees Pty Ltd Atf Narrogal purchased 236,977 shares of Prairie Operating stock in a transaction that occurred on Friday, November 21st. The stock was purchased at an average price of $1.69 per share, with a total value of $400,491.13. Following the completion of the purchase, the insider directly owned 13,776,036 shares in the company, valued at $23,281,500.84. This trade represents a 1.75% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Major shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.

Nominees Pty Ltd Atf Narrogal also recently made the following trade(s):

• On Thursday, November 20th, Nominees Pty Ltd Atf Narrogal acquired 800,000 shares of Prairie Operating stock. The shares were purchased at an average price of $1.71 per share, for a total transaction of $1,368,000.00.
• On Wednesday, November 19th, Nominees Pty Ltd Atf Narrogal bought 199,271 shares of Prairie Operating stock. The shares were purchased at an average cost of $1.72 per share, with a total value of $342,746.12.
• On Tuesday, November 18th, Nominees Pty Ltd Atf Narrogal purchased 131,814 shares of Prairie Operating stock. The stock was acquired at an average price of $1.75 per share, for a total transaction of $230,674.50.
• On Monday, November 17th, Nominees Pty Ltd Atf Narrogal purchased 168,897 shares of Prairie Operating stock. The shares were acquired at an average cost of $1.75 per share, for a total transaction of $295,569.75.
• On Friday, November 14th, Nominees Pty Ltd Atf Narrogal acquired 199,463 shares of Prairie Operating stock. The stock was acquired at an average cost of $1.73 per share, with a total value of $345,070.99.

Prairie Operating Price Performance

Shares of NASDAQ PROP traded down $0.04 during midday trading on Monday, reaching $1.72. The company’s stock had a trading volume of 368,596 shares, compared to its average volume of 1,186,159. The company has a debt-to-equity ratio of 4.11, a quick ratio of 0.80 and a current ratio of 0.83. The company has a market cap of $102.30 million, a P/E ratio of -0.53 and a beta of 2.07. The business’s 50 day moving average price is $1.90 and its two-hundred day moving average price is $2.86. Prairie Operating Co. has a fifty-two week low of $1.64 and a fifty-two week high of $10.58.

Institutional Trading of Prairie Operating

Large investors have recently made changes to their positions in the company. ELCO Management Co. LLC acquired a new stake in Prairie Operating in the third quarter valued at approximately $26,000. Bank of America Corp DE lifted its holdings in shares of Prairie Operating by 203.8% in the 2nd quarter. Bank of America Corp DE now owns 9,812 shares of the company’s stock worth $29,000 after purchasing an additional 6,582 shares in the last quarter. Warther Private Wealth LLC acquired a new stake in Prairie Operating in the 3rd quarter valued at $31,000. JPMorgan Chase & Co. grew its position in Prairie Operating by 411.4% in the 2nd 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, State of Wyoming bought a new stake in Prairie Operating during the 2nd quarter valued at $32,000. 34.28% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

PROP has been the subject of a number of research analyst reports. Weiss Ratings reiterated a “sell (d+)” rating on shares of Prairie Operating in a research report on Tuesday, October 14th. Wall Street Zen upgraded shares of Prairie Operating from a “sell” rating to a “hold” rating in a report on Saturday, August 16th. Finally, Piper Sandler cut their price objective on Prairie Operating to $2.00 and set a “neutral” rating on the stock in a report on Tuesday, October 21st. Three analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Prairie Operating presently has a consensus rating of “Hold” and a consensus target price of $6.75.

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.