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

Shares of Prairie Operating Co. (NASDAQ:PROP - Get Free Report) have been given an average rating of "Buy" by the four analysts that are currently covering the company, Marketbeat Ratings reports. Four investment analysts have rated the stock with a buy rating. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $8.75.

Several equities analysts have issued reports on the stock. Citigroup assumed coverage on shares of Prairie Operating in a research note on Monday, June 2nd. They issued a "buy" rating and a $8.00 price objective for the company. Roth Capital started coverage on shares of Prairie Operating in a report on Thursday. They issued a "buy" rating and a $8.00 target price for the company. Wall Street Zen raised shares of Prairie Operating from a "sell" rating to a "hold" rating in a report on Friday, June 6th. Piper Sandler reduced their target price on shares of Prairie Operating from $11.00 to $10.00 and set an "overweight" rating for the company in a report on Tuesday, May 13th. Finally, Johnson Rice started coverage on shares of Prairie Operating in a report on Monday, May 12th. They issued an "accumulate" rating and a $9.00 target price for the company.

Prairie Operating Stock Performance

NASDAQ PROP traded down $0.13 during trading hours on Thursday, hitting $3.85. The company had a trading volume of 746,005 shares, compared to its average volume of 307,541. Prairie Operating has a 1-year low of $3.35 and a 1-year high of $12.30. The company has a market cap of $168.75 million, a PE ratio of -1.28 and a beta of 2.03. The business has a 50 day moving average of $4.05 and a 200-day moving average of $6.12.

Insider Activity

In other news, President Gary C. Hanna purchased 25,000 shares of the business's stock in a transaction that occurred on Tuesday, May 27th. The stock was purchased at an average cost of $3.83 per share, with a total value of $95,750.00. Following the completion of the acquisition, the president now directly owns 1,350,226 shares of the company's stock, valued at approximately $5,171,365.58. This trade represents a 1.89% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Edward Kovalik purchased 7,140 shares of the business's stock in a transaction that occurred on Thursday, May 22nd. The shares were purchased at an average cost of $3.51 per share, with a total value of $25,061.40. Following the completion of the acquisition, the chief executive officer now directly owns 1,332,355 shares of the company's stock, valued at $4,676,566.05. This represents a 0.54% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last three months, insiders acquired 52,340 shares of company stock valued at $197,617. Insiders own 15.44% of the company's stock.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in PROP. Wells Fargo & Company MN grew 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 buying an additional 2,457 shares during the period. FNY Investment Advisers LLC acquired a new stake in Prairie Operating during the first quarter worth approximately $42,000. SageView Advisory Group LLC acquired a new stake in Prairie Operating during the first quarter worth approximately $59,000. Quotient Wealth Partners LLC acquired a new position in shares of Prairie Operating in the 1st quarter valued at $73,000. Finally, Bank of New York Mellon Corp boosted its holdings in shares of Prairie Operating by 30.6% in the 1st quarter. Bank of New York Mellon Corp now owns 14,741 shares of the company's stock valued at $79,000 after purchasing an additional 3,453 shares during the last quarter. 34.28% of the stock is owned by hedge funds and other institutional investors.

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.