Prairie Operating (NASDAQ:PROP) Now Covered by Roth Capital

Roth Capital assumed coverage on shares of Prairie Operating (NASDAQ:PROP - Free Report) in a research note published on Thursday morning, Marketbeat reports. The brokerage issued a buy rating and a $8.00 price target on the stock.

A number of other brokerages have also recently weighed in on PROP. Wall Street Zen raised Prairie Operating from a "sell" rating to a "hold" rating in a research report on Friday, June 6th. 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. Piper Sandler cut their price target on Prairie Operating from $11.00 to $10.00 and set an "overweight" rating for the company in a report on Tuesday, May 13th. Finally, Citigroup assumed coverage on Prairie Operating in a report on Monday, June 2nd. They issued a "buy" rating and a $8.00 price target for the company. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to MarketBeat.com, Prairie Operating currently has an average rating of "Moderate Buy" and an average price target of $8.75.

Prairie Operating Trading Down 3.3%

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

Insider Activity at Prairie Operating

In related news, President Gary C. Hanna acquired 25,000 shares of the firm's stock in a transaction that occurred on Tuesday, May 27th. The stock was acquired at an average cost of $3.83 per share, for a total transaction 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 acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Edward Kovalik acquired 6,700 shares of the business's stock in a transaction dated Friday, May 23rd. The shares were bought at an average cost of $3.74 per share, for a total transaction of $25,058.00. Following the transaction, the chief executive officer now directly owns 1,339,055 shares in the company, valued at approximately $5,008,065.70. This represents a 0.50% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last ninety days, insiders purchased 52,340 shares of company stock worth $197,617. Company insiders own 15.44% of the company's stock.

Institutional Investors Weigh In On Prairie Operating

Large investors have recently modified their holdings of the stock. Wells Fargo & Company MN lifted its stake 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 purchasing an additional 2,457 shares during the last quarter. FNY Investment Advisers LLC bought a new position in shares of Prairie Operating in the first quarter worth approximately $42,000. SageView Advisory Group LLC bought a new position in Prairie Operating during the first quarter valued at approximately $59,000. Quotient Wealth Partners LLC bought a new position in Prairie Operating during the first quarter valued at approximately $73,000. Finally, Nuveen Asset Management LLC bought a new position in Prairie Operating in the fourth quarter worth approximately $97,000. Hedge funds and other institutional investors own 34.28% of the company's stock.

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.