Prairie Operating (NASDAQ:PROP) Raised to Hold at Zacks Research

Prairie Operating (NASDAQ:PROP) was upgraded by Zacks Research from a “strong sell” rating to a “hold” rating in a research report issued on Monday,Zacks.com reports.

Other research analysts have also issued research reports about the company. Wall Street Zen raised Prairie Operating from a “sell” rating to a “hold” rating in a report on Sunday, May 24th. William Blair set a $3.50 target price on Prairie Operating in a report on Tuesday, March 3rd. Finally, Weiss Ratings raised Prairie Operating from a “sell (e-)” rating to a “sell (e)” rating in a report on Monday, June 1st. Three analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Reduce” and an average price target of $2.75.

Prairie Operating Trading Down 9.5%

NASDAQ PROP opened at $0.64 on Monday. The firm has a market cap of $49.00 million, a PE ratio of -0.30 and a beta of 1.23. The company has a debt-to-equity ratio of 909.21, a quick ratio of 0.23 and a current ratio of 0.24. The firm’s fifty day moving average is $1.09 and its two-hundred day moving average is $1.55. Prairie Operating has a one year low of $0.63 and a one year high of $4.33.

Insider Activity

In related news, Director Richard N. Frommer bought 75,500 shares of the company’s stock in a transaction dated Tuesday, May 19th. The shares were acquired at an average price of $0.87 per share, with a total value of $65,685.00. Following the completion of the acquisition, the director owned 205,372 shares in the company, valued at approximately $178,673.64. This trade represents a 58.13% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 3.09% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. grew its holdings in Prairie Operating by 0.6% during the third quarter. Vanguard Group Inc. now owns 1,276,221 shares of the company’s stock worth $2,533,000 after acquiring an additional 7,042 shares during the period. Lazard Asset Management LLC acquired a new position in Prairie Operating during the fourth quarter worth $1,628,000. Geode Capital Management LLC grew its holdings in Prairie Operating by 17.1% during the fourth quarter. Geode Capital Management LLC now owns 778,434 shares of the company’s stock worth $1,316,000 after acquiring an additional 113,720 shares during the period. Woodline Partners LP acquired a new position in Prairie Operating during the first quarter worth $3,678,000. Finally, Marshall Wace LLP acquired a new position in Prairie Operating during the second quarter worth $860,000. Institutional investors and hedge funds own 34.28% of the company’s stock.

About Prairie Operating