Prairie Operating Co. (NASDAQ:PROP) Given Consensus Recommendation of "Moderate Buy" by Brokerages

Key Points

• Prairie Operating Co. (NASDAQ:PROP) has received a consensus recommendation of “Moderate Buy” from analysts, with four out of five recommending a buy, and an average price target of $8.50.
• Insider purchases include CEO Edward Kovalik buying 6,700 shares at $3.74 per share and President Gary C. Hanna acquiring 25,000 shares at $3.83, indicating strong confidence from company leadership.
• The stock is currently down 6.4%, with a market cap of $135.43 million and significant volatility indicated by a beta of 1.92.

Shares of Prairie Operating Co. (NASDAQ:PROP - Get Free Report) have earned a consensus recommendation of "Moderate Buy" from the five analysts that are presently covering the company, MarketBeat reports. One equities research analyst has rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $8.50.

A number of research firms have weighed in on PROP. KeyCorp initiated coverage on Prairie Operating in a research note on Thursday, July 3rd. They issued a "sector weight" rating for the company. Roth Capital initiated coverage on shares of Prairie Operating in a report on Thursday, June 12th. They issued a "buy" rating and a $8.00 target price on the stock. Citigroup initiated coverage on shares of Prairie Operating in a report on Monday, June 2nd. They issued a "buy" rating and a $8.00 target price on the stock. Wall Street Zen cut shares of Prairie Operating from a "hold" rating to a "sell" rating in a report on Saturday, July 12th. Finally, Johnson Rice initiated coverage on shares of Prairie Operating in a report on Monday, May 12th. They issued an "accumulate" rating and a $9.00 target price on the stock.

Insider Activity

In related news, CEO Edward Kovalik bought 6,700 shares of Prairie Operating stock in a transaction that occurred on Friday, May 23rd. The stock was acquired at an average price of $3.74 per share, with a total value of $25,058.00. Following the acquisition, the chief executive officer owned 1,339,055 shares of the company's stock, valued at approximately $5,008,065.70. This represents a 0.50% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, President Gary C. Hanna bought 25,000 shares of Prairie Operating stock in a transaction that occurred on Tuesday, May 27th. The shares were bought at an average cost of $3.83 per share, with a total value of $95,750.00. Following the acquisition, the president directly owned 1,350,226 shares in the company, valued at $5,171,365.58. This trade represents a 1.89% increase in their position. The disclosure for this purchase can be found here. Insiders have purchased a total of 57,340 shares of company stock valued at $217,567 in the last ninety days. 15.44% of the stock is currently owned by insiders.

Institutional Trading of Prairie Operating

Hedge funds and other institutional investors have recently modified their holdings of the stock. Wells Fargo & Company MN increased its position in Prairie Operating by 128.0% during 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 during the period. FNY Investment Advisers LLC bought a new position in Prairie Operating during the first quarter worth about $42,000. Moss Adams Wealth Advisors LLC bought a new position in Prairie Operating during the second quarter worth about $51,000. SageView Advisory Group LLC bought a new position in Prairie Operating during the first quarter worth about $59,000. Finally, Brave Asset Management Inc. bought a new position in Prairie Operating during the second quarter worth about $60,000. Institutional investors own 34.28% of the company's stock.

Prairie Operating Stock Down 6.4%

PROP stock opened at $3.09 on Friday. The company has a quick ratio of 0.56, a current ratio of 0.57 and a debt-to-equity ratio of 11.17. The business has a 50 day moving average price of $3.72 and a two-hundred day moving average price of $5.25. The company has a market cap of $135.43 million, a price-to-earnings ratio of -1.03 and a beta of 1.92. Prairie Operating has a twelve month low of $2.74 and a twelve month high of $12.30.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.