Edward Kovalik Buys 6,700 Shares of Prairie Operating Co. (NASDAQ:PROP) Stock

Prairie Operating Co. (NASDAQ:PROP - Get Free Report) CEO Edward Kovalik purchased 6,700 shares of the firm's stock in a transaction on Friday, May 23rd. The shares were acquired at an average cost of $3.74 per share, for a total transaction of $25,058.00. Following the completion of the acquisition, the chief executive officer now owns 1,339,055 shares of the company's stock, valued at approximately $5,008,065.70. This trade represents a 0.50% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

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

• On Thursday, May 22nd, Edward Kovalik purchased 7,140 shares of Prairie Operating stock. The shares were acquired at an average cost of $3.51 per share, for a total transaction of $25,061.40.

Prairie Operating Price Performance

Shares of Prairie Operating stock traded up $0.25 during trading on Friday, reaching $3.90. 1,049,883 shares of the stock traded hands, compared to its average volume of 277,168. The company has a market capitalization of $170.94 million, a price-to-earnings ratio of -1.30 and a beta of 3.13. The business has a fifty day simple moving average of $4.24 and a two-hundred day simple moving average of $6.42. Prairie Operating Co. has a 52-week low of $3.35 and a 52-week high of $13.59.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the company. Piper Sandler cut their price objective on Prairie Operating from $11.00 to $10.00 and set an "overweight" rating for the company in a research report on Tuesday, May 13th. Johnson Rice assumed coverage on Prairie Operating in a research report on Monday, May 12th. They set an "accumulate" rating and a $9.00 price objective for the company. Finally, Wall Street Zen lowered Prairie Operating from a "hold" rating to a "sell" rating in a research report on Saturday, May 24th.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in PROP. Wells Fargo & Company MN grew its position in Prairie Operating by 128.0% in the fourth quarter. Wells Fargo & Company MN now owns 4,376 shares of the company's stock worth $30,000 after acquiring an additional 2,457 shares in the last quarter. FNY Investment Advisers LLC purchased a new position in Prairie Operating in the first quarter worth about $42,000. SageView Advisory Group LLC purchased a new position in Prairie Operating in the first quarter worth about $59,000. JPMorgan Chase & Co. grew its position in Prairie Operating by 163.4% in the third quarter. JPMorgan Chase & Co. now owns 6,966 shares of the company's stock worth $61,000 after acquiring an additional 4,321 shares in the last quarter. Finally, Quotient Wealth Partners LLC purchased a new position in Prairie Operating in the first quarter worth about $73,000. Hedge funds and other institutional investors own 34.28% of the company's stock.

About Prairie Operating

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.