Prairie Operating Co. (NASDAQ:PROP) Short Interest Update

Prairie Operating Co. (NASDAQ:PROP) was the target of a significant increase in short interest in December. As of December 31st, there was short interest totaling 7,286,996 shares, an increase of 25.8% from the December 15th total of 5,792,203 shares. Approximately 14.4% of the company’s shares are sold short. Based on an average trading volume of 1,570,411 shares, the short-interest ratio is presently 4.6 days. Based on an average trading volume of 1,570,411 shares, the short-interest ratio is presently 4.6 days. Approximately 14.4% of the company’s shares are sold short.

Wall Street Analyst Weigh In

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

Prairie Operating Stock Down 3.8%

Shares of NASDAQ:PROP traded down $0.07 during midday trading on Friday, reaching $1.78. The company’s stock had a trading volume of 1,611,008 shares, compared to its average volume of 1,460,605. 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 firm has a 50 day moving average of $1.76 and a 200-day moving average of $2.28. The firm has a market capitalization of $106.18 million, a P/E ratio of -0.55 and a beta of 2.27. Prairie Operating has a 12-month low of $1.57 and a 12-month high of $10.58.

Insiders Place Their Bets

In related news, major shareholder Nominees Pty Ltd Atf Narrogal acquired 210,981 shares of Prairie Operating stock in a transaction on Monday, December 29th. The shares were acquired at an average cost of $1.61 per share, with a total value of $339,679.41. Following the transaction, the insider owned 15,481,603 shares in the company, valued at $24,925,380.83. This trade represents a 1.38% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders have acquired a total of 3,441,989 shares of company stock valued at $5,853,115 in the last quarter. Insiders own 15.44% of the company’s stock.

Hedge Funds Weigh In On Prairie Operating

Several large investors have recently made changes to their positions in PROP. Vanguard Group Inc. boosted its position in shares of Prairie Operating by 0.6% in the 3rd 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. Woodline Partners LP purchased a new position in Prairie Operating during the first quarter valued at $3,678,000. Geode Capital Management LLC boosted 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 acquiring an additional 285,934 shares in the last quarter. Marshall Wace LLP purchased a new stake in shares of Prairie Operating in the second quarter worth $860,000. Finally, Rockefeller Capital Management L.P. increased its holdings in shares of Prairie Operating by 22.8% during the second quarter. Rockefeller Capital Management L.P. now owns 173,151 shares of the company’s stock valued at $519,000 after acquiring an additional 32,145 shares in the last quarter. 34.28% of the stock is currently 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.