Prairie Operating (NASDAQ:PROP) Announces Quarterly Earnings Results

Prairie Operating (NASDAQ:PROP) posted its quarterly earnings data on Friday. The company reported $0.23 earnings per share for the quarter, beating the consensus estimate of $0.02 by $0.21, FiscalAI reports. Prairie Operating had a positive return on equity of 89.35% and a negative net margin of 37.79%.The business had revenue of $98.86 million for the quarter.

Prairie Operating Price Performance

Shares of PROP opened at $1.00 on Friday. Prairie Operating has a fifty-two week low of $0.58 and a fifty-two week high of $2.83. The firm’s 50-day simple moving average is $0.75 and its two-hundred day simple moving average is $1.24. The stock has a market cap of $76.57 million, a PE ratio of -0.48 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.

Wall Street Analyst Weigh In

PROP has been the subject of several research reports. Zacks Research lowered Prairie Operating from a “hold” rating to a “strong sell” rating in a research report on Wednesday, July 15th. Wall Street Zen lowered Prairie Operating from a “hold” rating to a “sell” rating in a research report on Saturday, July 18th. Finally, Weiss Ratings raised Prairie Operating from a “sell (e-)” rating to a “sell (e)” rating in a research note on Monday, June 1st. One equities research analyst has rated the stock with a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, Prairie Operating currently has a consensus rating of “Sell” and an average price target of $2.75.

Insider Activity

In other Prairie Operating news, Director Richard N. Frommer bought 75,500 shares of the stock in a transaction dated Tuesday, May 19th. The stock was purchased at an average cost of $0.87 per share, for a total transaction of $65,685.00. Following the completion of the acquisition, the director owned 205,372 shares of the company’s stock, valued at approximately $178,673.64. This trade represents a 58.13% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 3.09% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Engineers Gate Manager LP purchased a new position in Prairie Operating during the fourth quarter valued at $25,000. Retirement Planning Group LLC purchased a new stake in shares of Prairie Operating in the fourth quarter worth $29,000. Bank of America Corp DE increased its holdings in shares of Prairie Operating by 203.8% during the second 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. Warther Private Wealth LLC bought a new position in shares of Prairie Operating during the third quarter valued at $31,000. Finally, JPMorgan Chase & Co. raised its position in shares of Prairie Operating by 411.4% in the 2nd 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 last quarter. Institutional investors own 34.28% of the company’s stock.

About Prairie Operating