Prairie Operating (NASDAQ:PROP) Trading 4.7% Higher – Should You Buy?

Shares of Prairie Operating Co. (NASDAQ:PROP) traded up 4.7% during mid-day trading on Thursday . The company traded as high as $0.8092 and last traded at $0.8040. 901,180 shares traded hands during trading, a decline of 66% from the average daily volume of 2,662,390 shares. The stock had previously closed at $0.7682.

Analysts Set New Price Targets

A number of analysts have weighed in on PROP shares. Weiss Ratings raised shares of Prairie Operating from a “sell (e-)” rating to a “sell (e)” rating in a report on Monday, June 1st. Wall Street Zen upgraded shares of Prairie Operating from a “sell” rating to a “hold” rating in a report on Sunday, May 24th. Finally, Zacks Research upgraded shares of Prairie Operating from a “strong sell” rating to a “hold” rating in a research note on Monday, June 15th. Two research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Reduce” and a consensus price target of $2.75.

Prairie Operating Trading Down 9.3%

The firm has a market capitalization of $55.82 million, a P/E ratio of -0.35 and a beta of 1.25. The company has a quick ratio of 0.23, a current ratio of 0.24 and a debt-to-equity ratio of 909.21. The business has a 50-day moving average price of $0.83 and a 200-day moving average price of $1.42.

Insiders Place Their Bets

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

Hedge Funds Weigh In On Prairie Operating

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Bank of America Corp DE boosted its position in shares of Prairie Operating by 203.8% during the 2nd quarter. Bank of America Corp DE now owns 9,812 shares of the company’s stock valued at $29,000 after acquiring an additional 6,582 shares in the last quarter. Vanguard Group Inc. raised its position in Prairie Operating by 0.6% in the third quarter. Vanguard Group Inc. now owns 1,276,221 shares of the company’s stock worth $2,533,000 after purchasing an additional 7,042 shares in the last quarter. Squarepoint Ops LLC raised its position in Prairie Operating by 9.3% in the third quarter. Squarepoint Ops LLC now owns 100,607 shares of the company’s stock worth $200,000 after purchasing an additional 8,572 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in Prairie Operating by 411.4% during the second quarter. JPMorgan Chase & Co. now owns 10,740 shares of the company’s stock worth $32,000 after purchasing an additional 8,640 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Prairie Operating by 363.9% during the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 11,779 shares of the company’s stock worth $35,000 after purchasing an additional 9,240 shares during the period. 34.28% of the stock is owned by institutional investors.

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