Prairie Operating (NASDAQ:PROP) Director Acquires $187,790.00 in Stock

Key Points

• Prairie Operating Co. Director Jonathan Gray purchased 89,000 shares at an average price of $2.11 per share, increasing his total shares owned to 675,817.
• The company's recent earnings report showed a loss, with earnings per share of $0.18, significantly below the consensus estimate of $1.28.
• New research ratings for Prairie Operating have varied, with a consensus target price of $8.50 and analysts split between "buy" and "hold" ratings.

Prairie Operating Co. (NASDAQ:PROP - Get Free Report) Director Jonathan Gray bought 89,000 shares of the firm's stock in a transaction that occurred on Friday, September 5th. The shares were acquired at an average cost of $2.11 per share, for a total transaction of $187,790.00. Following the completion of the acquisition, the director directly owned 675,817 shares in the company, valued at $1,425,973.87. The trade was a 15.17% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Prairie Operating Stock Performance

Shares of PROP stock traded down $0.01 during trading on Monday, reaching $2.08. 2,097,847 shares of the company's stock were exchanged, compared to its average volume of 1,035,060. The company has a quick ratio of 0.58, a current ratio of 0.60 and a debt-to-equity ratio of 4.13. The stock has a market capitalization of $104.58 million, a PE ratio of -0.69 and a beta of 2.15. Prairie Operating Co. has a twelve month low of $2.01 and a twelve month high of $12.30. The firm's fifty day moving average price is $3.14 and its 200-day moving average price is $4.17.

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

Hedge Funds Weigh In On Prairie Operating

Several large investors have recently bought and sold shares of the company. State of Wyoming bought a new position in Prairie Operating in the second quarter valued at about $32,000. Nomura Holdings Inc. bought a new position in Prairie Operating in the second quarter valued at about $57,000. Bank of America Corp DE raised its position in Prairie Operating by 203.8% in the second 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 during the last quarter. Raymond James Financial Inc. bought a new position in shares of Prairie Operating during the second quarter worth about $313,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Prairie Operating by 363.9% during the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 11,779 shares of the company's stock worth $35,000 after acquiring an additional 9,240 shares during the last quarter. 34.28% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have commented on the company. Wall Street Zen raised Prairie Operating from a "sell" rating to a "hold" rating in a report on Saturday, August 16th. Johnson Rice began coverage on Prairie Operating in a research report on Monday, May 12th. They set an "accumulate" rating and a $9.00 target price for the company. KeyCorp began coverage on Prairie Operating in a research report on Thursday, July 3rd. They set a "sector weight" rating for the company. Piper Sandler downgraded Prairie Operating from an "overweight" rating to a "neutral" rating in a research report on Monday, August 18th. Finally, Roth Capital began coverage on Prairie Operating in a research note on Thursday, June 12th. They issued a "buy" rating and a $8.00 price objective on the stock. Three equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $8.50.

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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