Prairie Operating Co. (NASDAQ:PROP) Short Interest Up 102.8% in April

Key Points

• Short interest surged 102.8% in April to 10,092,557 shares, representing about 15.6% of the company's shares shorted and a short-interest ratio of 1.0 days.
• Analysts are mixed with an average rating of "Hold" and an average target of $6.10, though Zacks recently cut PROP to a "strong sell" and Weiss Ratings reiterated a "sell (d)".
• Shares traded at $1.16 (down 2.5%) with a market cap of ~$88.8M, negative earnings (P/E -0.34) and a high debt-to-equity ratio of 2.83, while institutional investors own about 34.3% of the stock.

Prairie Operating Co. (NASDAQ:PROP - Get Free Report) was the recipient of a large growth in short interest in the month of April. As of April 15th, there was short interest totaling 10,092,557 shares, a growth of 102.8% from the March 31st total of 4,977,311 shares. Approximately 15.6% of the company's shares are short sold. Based on an average daily volume of 10,011,930 shares, the short-interest ratio is currently 1.0 days.

Analyst Upgrades and Downgrades

PROP has been the topic of several analyst reports. Zacks Research cut Prairie Operating from a "hold" rating to a "strong sell" rating in a research note on Thursday, March 5th. William Blair set a $3.50 price objective on Prairie Operating in a research note on Tuesday, March 3rd. Finally, Weiss Ratings reiterated a "sell (d)" rating on shares of Prairie Operating in a research note on Monday, December 29th. Three analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have given a Sell rating to the company's stock. According to MarketBeat, the stock has an average rating of "Hold" and an average target price of $6.10.

Institutional Trading of Prairie Operating

Several institutional investors and hedge funds have recently bought and sold shares of the business. Patriot Financial Group Insurance Agency LLC purchased a new stake in Prairie Operating in the 1st quarter valued at $102,000. Caitong International Asset Management Co. Ltd raised its position in Prairie Operating by 878.2% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 116,227 shares of the company's stock valued at $196,000 after purchasing an additional 104,345 shares during the last quarter. Aristides Capital LLC purchased a new stake in Prairie Operating in the 4th quarter valued at $135,000. Wellington Management Group LLP raised its position in Prairie Operating by 17.9% in the 4th quarter. Wellington Management Group LLP now owns 90,910 shares of the company's stock valued at $154,000 after purchasing an additional 13,787 shares during the last quarter. Finally, Quadrature Capital Ltd raised its position in Prairie Operating by 130.6% in the 4th quarter. Quadrature Capital Ltd now owns 184,446 shares of the company's stock valued at $312,000 after purchasing an additional 104,472 shares during the last quarter. Hedge funds and other institutional investors own 34.28% of the company's stock.

Prairie Operating Stock Down 2.5%

Shares of Prairie Operating stock traded down $0.03 during trading hours on Friday, hitting $1.16. The company had a trading volume of 1,750,760 shares, compared to its average volume of 7,227,739. The company's 50-day moving average is $1.72 and its two-hundred day moving average is $1.78. Prairie Operating has a twelve month low of $1.13 and a twelve month high of $4.80. The company has a market cap of $88.82 million, a P/E ratio of -0.34 and a beta of 1.65. The company has a debt-to-equity ratio of 2.83, a current ratio of 0.63 and a quick ratio of 0.61.

About Prairie Operating

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