Prairie Operating (NASDAQ:PROP) Stock Rating Lowered by Wall Street Zen

Wall Street Zen downgraded shares of Prairie Operating (NASDAQ:PROP - Free Report) from a hold rating to a sell rating in a research report sent to investors on Saturday morning.

Several other equities research analysts also recently weighed in on the stock. Piper Sandler dropped their target price on shares of Prairie Operating from $11.00 to $10.00 and set an "overweight" rating for the company in a research report on Tuesday, May 13th. Johnson Rice assumed coverage on Prairie Operating in a report on Monday, May 12th. They issued an "accumulate" rating and a $9.00 price objective for the company.

Prairie Operating Price Performance

Shares of NASDAQ:PROP traded up $0.44 during midday trading on Friday, reaching $3.92. The company had a trading volume of 1,654,786 shares, compared to its average volume of 261,580. The stock has a market capitalization of $171.81 million, a P/E ratio of -1.31 and a beta of 3.13. The stock's fifty day moving average price is $4.41 and its 200-day moving average price is $6.57. Prairie Operating has a one year low of $3.35 and a one year high of $13.59.

Hedge Funds Weigh In On Prairie Operating

A number of hedge funds have recently added to or reduced their stakes in the business. Barclays PLC raised its holdings in shares of Prairie Operating by 321.7% during the third quarter. Barclays PLC now owns 5,996 shares of the company's stock worth $52,000 after purchasing an additional 4,574 shares during the period. JPMorgan Chase & Co. raised its stake in Prairie Operating by 163.4% during the third quarter. JPMorgan Chase & Co. now owns 6,966 shares of the company's stock worth $61,000 after acquiring an additional 4,321 shares during the period. Rhumbline Advisers raised its stake in Prairie Operating by 1,053.9% during the fourth quarter. Rhumbline Advisers now owns 40,224 shares of the company's stock worth $278,000 after acquiring an additional 36,738 shares during the period. Geode Capital Management LLC lifted its holdings in Prairie Operating by 105.5% in the fourth quarter. Geode Capital Management LLC now owns 250,614 shares of the company's stock worth $1,734,000 after acquiring an additional 128,648 shares during the last quarter. Finally, Wells Fargo & Company MN boosted 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 valued at $30,000 after acquiring an additional 2,457 shares during the period. Institutional investors and hedge funds own 34.28% of the company's stock.

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.