Short Interest in Prairie Operating Co. (NASDAQ:PROP) Rises By 61.6%

Prairie Operating Co. (NASDAQ:PROP) saw a significant growth in short interest during the month of August. As of August 31st, there was short interest totaling 13,161,792 shares, a growth of 61.6% from the August 15th total of 8,146,378 shares. Currently, 12.0% of the company’s shares are short sold. Based on an average daily trading volume, of 3,448,081 shares, the short-interest ratio is presently 3.8 days.

Prairie Operating Stock Up 1.5%

Shares of PROP opened at $0.40 on Friday. The company’s 50-day moving average price is $0.64 and its 200 day moving average price is $1.02. Prairie Operating has a 12-month low of $0.38 and a 12-month high of $2.55. The company has a current ratio of 0.25, a quick ratio of 0.23 and a debt-to-equity ratio of 1.96. The firm has a market cap of $45.25 million, a P/E ratio of -0.20 and a beta of 1.25.

Prairie Operating (NASDAQ:PROP) last announced its quarterly earnings results on Friday, August 14th. The company reported $0.23 earnings per share for the quarter, beating analysts’ consensus estimates of $0.02 by $0.21. The business had revenue of $98.86 million during the quarter. Prairie Operating had a negative net margin of 13.02% and a positive return on equity of 46.53%. On average, sell-side analysts forecast that Prairie Operating will post 0.51 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Corient Private Wealth LP grew its stake in shares of Prairie Operating by 519.0% in the second quarter. Corient Private Wealth LP now owns 433,189 shares of the company’s stock valued at $313,000 after buying an additional 363,209 shares in the last quarter. Two Sigma Securities LLC purchased a new position in Prairie Operating during the 2nd quarter valued at about $77,000. Hsbc Holdings PLC acquired a new position in Prairie Operating in the 2nd quarter valued at about $154,000. Wellington Management Group LLP acquired a new position in Prairie Operating in the 2nd quarter valued at about $179,000. Finally, Bank of America Corp DE purchased a new stake in Prairie Operating during the second quarter worth about $135,000. 34.28% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

PROP has been the topic of several analyst reports. Weiss Ratings upgraded Prairie Operating from a “sell (e)” rating to a “sell (e+)” rating in a report on Thursday, September 10th. Zacks Research cut shares of Prairie Operating from a “hold” rating to a “strong sell” rating in a research report on Wednesday, July 15th. Roth Capital reiterated a “buy” rating and issued a $2.00 target price on shares of Prairie Operating in a report on Monday, August 17th. Finally, Wall Street Zen raised shares of Prairie Operating from a “sell” rating to a “hold” rating in a research note on Saturday, August 22nd. One equities research analyst has rated the stock with a Buy rating, one has issued a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Reduce” and a consensus price target of $2.50.

About Prairie Operating