Prairie Operating (NASDAQ:PROP) Lowered to “Sell” Rating by Wall Street Zen

Wall Street Zen downgraded shares of Prairie Operating (NASDAQ:PROP) from a hold rating to a sell rating in a research note issued to investors on Saturday.

Other research analysts have also issued research reports about the company. Weiss Ratings upgraded Prairie Operating from a “sell (e-)” rating to a “sell (e)” rating in a report on Monday, June 1st. Zacks Research lowered Prairie Operating from a “hold” rating to a “strong sell” rating in a research report on Wednesday. One research analyst has rated the stock with a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Sell” and a consensus target price of $2.75.

Prairie Operating Price Performance

PROP stock opened at $0.78 on Friday. The company has a market capitalization of $59.46 million, a P/E ratio of -0.37 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. Prairie Operating has a 52-week low of $0.58 and a 52-week high of $4.33. The business has a 50-day simple moving average of $0.80 and a two-hundred day simple moving average of $1.39.

Insider Buying and Selling

In other Prairie Operating news, Director Richard N. Frommer bought 75,500 shares of the business’s stock in a transaction dated 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 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 filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 3.09% of the company’s stock.

Institutional Trading of Prairie Operating

Hedge funds have recently bought and sold shares of the business. Woodline Partners LP bought a new stake in shares of Prairie Operating during the 1st quarter worth $3,678,000. Geode Capital Management LLC boosted its stake in Prairie Operating by 76.2% in the second quarter. Geode Capital Management LLC now owns 661,390 shares of the company’s stock valued at $1,981,000 after acquiring an additional 285,934 shares during the last quarter. Cetera Investment Advisers boosted its stake in Prairie Operating by 90.5% in the second quarter. Cetera Investment Advisers now owns 19,745 shares of the company’s stock valued at $59,000 after acquiring an additional 9,379 shares during the last quarter. JPMorgan Chase & Co. grew its position in shares of Prairie Operating by 411.4% during the 2nd quarter. JPMorgan Chase & Co. now owns 10,740 shares of the company’s stock valued at $32,000 after acquiring an additional 8,640 shares during the period. Finally, American Century Companies Inc. bought a new position in shares of Prairie Operating during the 2nd quarter valued at approximately $46,000. 34.28% of the stock is currently owned by institutional investors.

About Prairie Operating