Prairie Operating Co. (NASDAQ:PROP) CEO Purchases $25,061.40 in Stock

Prairie Operating Co. (NASDAQ:PROP - Get Free Report) CEO Edward Kovalik bought 7,140 shares of the business's stock in a transaction on Thursday, May 22nd. The shares were acquired at an average price of $3.51 per share, for a total transaction of $25,061.40. Following the completion of the purchase, the chief executive officer now owns 1,332,355 shares in the company, valued at approximately $4,676,566.05. The trade was a 0.54% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this link.

Edward Kovalik also recently made the following trade(s):

• On Friday, May 23rd, Edward Kovalik bought 6,700 shares of Prairie Operating stock. The shares were acquired at an average price of $3.74 per share, for a total transaction of $25,058.00.

Prairie Operating Stock Performance

Shares of PROP stock traded up $0.25 on Friday, reaching $3.90. The stock had a trading volume of 1,049,883 shares, compared to its average volume of 277,168. Prairie Operating Co. has a 1 year low of $3.35 and a 1 year high of $13.59. The company has a 50 day simple moving average of $4.24 and a 200 day simple moving average of $6.42. The stock has a market cap of $170.94 million, a P/E ratio of -1.30 and a beta of 3.13.

Hedge Funds Weigh In On Prairie Operating

A number of institutional investors have recently bought and sold shares of PROP. JPMorgan Chase & Co. raised its holdings in Prairie Operating by 163.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 6,966 shares of the company's stock worth $61,000 after purchasing an additional 4,321 shares during the period. Rhumbline Advisers raised its holdings in Prairie Operating by 1,053.9% in the 4th quarter. Rhumbline Advisers now owns 40,224 shares of the company's stock worth $278,000 after purchasing an additional 36,738 shares during the period. Geode Capital Management LLC raised its holdings in Prairie Operating by 105.5% in the 4th quarter. Geode Capital Management LLC now owns 250,614 shares of the company's stock worth $1,734,000 after purchasing an additional 128,648 shares during the period. Wells Fargo & Company MN raised its holdings in Prairie Operating by 128.0% in the 4th quarter. Wells Fargo & Company MN now owns 4,376 shares of the company's stock worth $30,000 after purchasing an additional 2,457 shares during the period. Finally, Marshall Wace LLP bought a new position in Prairie Operating in the 4th quarter worth $201,000. 34.28% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on PROP shares. Wall Street Zen downgraded Prairie Operating from a "hold" rating to a "sell" rating in a research note on Saturday, May 24th. Piper Sandler dropped their price target on Prairie Operating from $11.00 to $10.00 and set an "overweight" rating on the stock in a research note on Tuesday, May 13th. Finally, Johnson Rice started coverage on Prairie Operating in a research note on Monday, May 12th. They issued an "accumulate" rating and a $9.00 price target on the stock.

Prairie Operating Company Profile

Prairie Operating Co, an independent energy company, engages in the development, exploration, and production of oil, natural gas, and natural gas liquids in the United States. The company holds assets in the Denver-Julesburg Basin in Colorado; and the Niobrara and Codell formations. Prairie Operating Co is based in Houston Texas.