Short Interest in Prairie Operating Co. (NASDAQ:PROP) Decreases By 50.5%

Prairie Operating Co. (NASDAQ:PROP) saw a large drop in short interest during the month of August. As of August 14th, there was short interest totaling 8,146,378 shares, a drop of 50.5% from the July 30th total of 16,467,433 shares. Currently, 7.5% of the shares of the company are sold short. Based on an average trading volume of 1,594,053 shares, the short-interest ratio is currently 5.1 days.

Prairie Operating Stock Performance

PROP stock traded up $0.02 during midday trading on Friday, hitting $0.56. 1,401,555 shares of the stock traded hands, compared to its average volume of 2,591,278. Prairie Operating has a 1-year low of $0.51 and a 1-year high of $2.61. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.25 and a quick ratio of 0.23. The stock’s fifty day simple moving average is $0.72 and its 200-day simple moving average is $1.16. The firm has a market cap of $63.00 million, a P/E ratio of -0.27 and a beta of 1.25.

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

Institutional Trading of Prairie Operating

Several institutional investors have recently bought and sold shares of the business. Bank of America Corp DE raised its stake in shares of Prairie Operating by 203.8% during the 2nd quarter. Bank of America Corp DE now owns 9,812 shares of the company’s stock worth $29,000 after buying an additional 6,582 shares during the period. State of Wyoming purchased a new stake in Prairie Operating in the 2nd quarter worth $32,000. XTX Topco Ltd acquired a new position in Prairie Operating during the second quarter worth $32,000. JPMorgan Chase & Co. raised its position in Prairie Operating by 411.4% during the second quarter. JPMorgan Chase & Co. now owns 10,740 shares of the company’s stock worth $32,000 after acquiring an additional 8,640 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in Prairie Operating by 363.9% during the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 11,779 shares of the company’s stock valued at $35,000 after purchasing an additional 9,240 shares in the last quarter. 34.28% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have weighed in on PROP. Wall Street Zen upgraded Prairie Operating from a “sell” rating to a “hold” rating in a research note on Saturday, August 22nd. Zacks Research downgraded Prairie Operating from a “hold” rating to a “strong sell” rating in a 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 research report on Monday, August 17th. Finally, Weiss Ratings upgraded shares of Prairie Operating from a “sell (e-)” rating to a “sell (e)” rating in a report on Monday, June 1st. One investment analyst has rated the stock with a Buy rating, one has given a Hold rating and two have given a Sell rating to the company. According to MarketBeat, Prairie Operating has a consensus rating of “Reduce” and a consensus target price of $2.50.

About Prairie Operating