Prairie Operating Co. (NASDAQ:PROP) Receives Average Recommendation of "Moderate Buy" from Analysts

Key Points

• Prairie Operating Co. (NASDAQ:PROP) has received an average recommendation of "Moderate Buy" from five research firms, with a consensus price target of $8.50.
• Insider activity includes Director Jonathan H. Gray purchasing 218,917 shares at $2.09 each, increasing his ownership by 88.51%.
• The company reported $0.18 EPS for the last quarter, significantly missing analysts' expectations of $1.28, with revenue also falling short at $68.10 million compared to estimates of $125.50 million.

Shares of Prairie Operating Co. (NASDAQ:PROP - Get Free Report) have been assigned an average recommendation of "Moderate Buy" from the five research firms that are presently covering the stock, Marketbeat.com reports. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 1 year price objective among brokers that have covered the stock in the last year is $8.50.

PROP has been the topic of a number of recent research reports. Citigroup initiated coverage on shares of Prairie Operating in a research report on Monday, June 2nd. They set a "buy" rating and a $8.00 price target on the stock. Roth Capital assumed 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. KeyCorp assumed coverage on shares of Prairie Operating in a report on Thursday, July 3rd. They issued a "sector weight" rating on the stock. Piper Sandler lowered shares of Prairie Operating from an "overweight" rating to a "neutral" rating in a report on Monday, August 18th. Finally, Johnson Rice assumed 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 Buying and Selling

In other news, Director Jonathan H. Gray bought 218,917 shares of the firm's stock in a transaction on Wednesday, August 20th. The shares were purchased at an average cost of $2.09 per share, with a total value of $457,536.53. Following the acquisition, the director directly owned 466,254 shares in the company, valued at $974,470.86. This represents a 88.51% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Over the last 90 days, insiders have bought 365,480 shares of company stock valued at $799,298. 15.44% of the stock is owned by company insiders.

Hedge Funds Weigh In On Prairie Operating

Several hedge funds have recently bought and sold shares of the company. State of Wyoming bought a new position in Prairie Operating in the 2nd quarter valued at about $32,000. Nomura Holdings Inc. acquired a new stake in shares of Prairie Operating in the 2nd quarter valued at approximately $57,000. Bank of America Corp DE boosted its stake in shares of Prairie Operating by 203.8% in the 2nd quarter. Bank of America Corp DE now owns 9,812 shares of the company's stock valued at $29,000 after purchasing an additional 6,582 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Prairie Operating in the 2nd quarter valued at approximately $313,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of Prairie Operating by 363.9% in the 2nd 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.

Prairie Operating Price Performance

NASDAQ:PROP opened at $2.50 on Tuesday. Prairie Operating has a 52 week low of $2.01 and a 52 week high of $12.30. The firm has a market cap of $125.70 million, a price-to-earnings ratio of -0.83 and a beta of 2.01. The firm's 50-day simple moving average is $3.36 and its 200 day simple moving average is $4.56. The company has a debt-to-equity ratio of 4.13, a quick ratio of 0.58 and a current ratio of 0.60.

Prairie Operating (NASDAQ:PROP - Get Free Report) last released its quarterly earnings results on Tuesday, August 12th. The company reported $0.18 EPS for the quarter, missing analysts' consensus estimates of $1.28 by ($1.10). The company had revenue of $68.10 million for the quarter, compared to analyst estimates of $125.50 million. As a group, sell-side analysts predict that Prairie Operating will post -2.13 earnings per share for the current year.

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.

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