Prairie Operating (NASDAQ:PROP) Stock Price Up 0.6% – Still a Buy?

Prairie Operating Co. (NASDAQ:PROP)’s stock price shot up 0.6% during trading on Friday . The company traded as high as $1.80 and last traded at $1.75. 817,210 shares changed hands during mid-day trading, a decline of 36% from the average session volume of 1,280,642 shares. The stock had previously closed at $1.74.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. Piper Sandler decreased their price objective on Prairie Operating to $2.00 and set a “neutral” rating on the stock in a report on Tuesday, October 21st. Zacks Research raised Prairie Operating to a “hold” rating in a research note on Thursday, January 1st. Finally, Weiss Ratings reiterated a “sell (d)” rating on shares of Prairie Operating in a research report on Monday, December 29th. Three equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $6.75.

Prairie Operating Trading Up 0.6%

The company has a quick ratio of 0.80, a current ratio of 0.83 and a debt-to-equity ratio of 4.11. The company has a market capitalization of $104.38 million, a PE ratio of -0.54 and a beta of 2.45. The stock’s fifty day moving average price is $1.78 and its two-hundred day moving average price is $2.02.

Insiders Place Their Bets

In other Prairie Operating news, major shareholder Nominees Pty Ltd Atf Narrogal bought 210,981 shares of Prairie Operating stock in a transaction dated Monday, December 29th. The shares were purchased at an average cost of $1.61 per share, with a total value of $339,679.41. Following the completion of the purchase, the insider owned 15,481,603 shares of the company’s stock, valued at approximately $24,925,380.83. This represents a 1.38% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In the last three months, insiders purchased 3,242,526 shares of company stock valued at $5,508,044. Company insiders own 15.44% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Woodline Partners LP purchased a new stake in shares of Prairie Operating in the 1st quarter worth about $3,678,000. Marshall Wace LLP purchased a new stake in Prairie Operating in the second quarter worth about $860,000. Geode Capital Management LLC lifted its holdings in 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 during the period. FOCUS Wealth Advisors LLC bought a new stake in Prairie Operating during the 3rd quarter valued at approximately $278,000. Finally, Jane Street Group LLC grew its holdings in shares of Prairie Operating by 217.2% during the 4th quarter. Jane Street Group LLC now owns 188,972 shares of the company’s stock worth $319,000 after acquiring an additional 129,389 shares during the period. 34.28% of the stock is owned by hedge funds and other institutional investors.

Prairie Operating Company Profile

Prairie Operating (NASDAQ: PROP) is a publicly traded independent exploration and production company focused on the acquisition, development and operation of onshore oil and natural gas properties in the United States. The firm seeks to identify and capitalize on undervalued or overlooked assets, applying a disciplined approach to drilling, completion and production optimization. By concentrating on core resource plays, Prairie Operating aims to deliver steady production growth and free cash flow.

The company’s asset base is concentrated in the Permian Basin region of West Texas and southeastern New Mexico, where it holds working interests in both conventional and unconventional reservoirs.