Prairie Operating (NASDAQ:PROP) Downgraded to Strong Sell Rating by Zacks Research

Key Points

• Zacks Research downgraded Prairie Operating (NASDAQ:PROP) from a "hold" to a "strong sell"
• Shares traded around $1.60 with 50-/200-day moving averages of $1.79/$1.89, a market cap of about $95.4M, high leverage (debt-to-equity 4.11) and a negative P/E (-0.49), and a 52-week range of $1.50–$7.19.
• Despite the downgrades, insiders have been buying: Nominees Pty Ltd acquired 210,981 shares at roughly $1.61 and insiders added 1,651,736 shares in the last 90 days, now owning 15.44% of the stock.

Prairie Operating (NASDAQ:PROP - Get Free Report) was downgraded by equities research analysts at Zacks Research from a "hold" rating to a "strong sell" rating in a report issued on Thursday,Zacks.com reports.

Several other analysts also recently issued reports on PROP. Weiss Ratings reissued a "sell (d)" rating on shares of Prairie Operating in a research note on Monday, December 29th. William Blair set a $3.50 price objective on shares of Prairie Operating in a research note on Tuesday. Three analysts have rated the stock with a Buy rating, two have given a Hold rating and two have issued a Sell rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $6.10.

Prairie Operating Price Performance

Shares of NASDAQ PROP opened at $1.60 on Thursday. The firm has a 50 day moving average price of $1.79 and a 200 day moving average price of $1.89. The company has a debt-to-equity ratio of 4.11, a quick ratio of 0.80 and a current ratio of 0.83. The stock has a market cap of $95.44 million, a P/E ratio of -0.49 and a beta of 2.44. Prairie Operating has a 52-week low of $1.50 and a 52-week high of $7.19.

Insider Buying and Selling at Prairie Operating

In other Prairie Operating news, major shareholder Nominees Pty Ltd Atf Narrogal acquired 210,981 shares of Prairie Operating stock in a transaction that occurred on Monday, December 29th. The shares were acquired at an average cost of $1.61 per share, with a total value of $339,679.41. Following the completion of the purchase, the insider directly owned 15,481,603 shares of the company's stock, valued at $24,925,380.83. This represents a 1.38% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In the last ninety days, insiders acquired 1,651,736 shares of company stock worth $2,778,050. 15.44% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. Woodline Partners LP acquired a new stake in Prairie Operating during the 1st quarter valued at approximately $3,678,000. Geode Capital Management LLC raised its stake in Prairie Operating by 76.2% during the 2nd quarter. Geode Capital Management LLC now owns 661,390 shares of the company's stock worth $1,981,000 after buying an additional 285,934 shares during the period. Cetera Investment Advisers lifted its stake in shares of Prairie Operating by 90.5% in the second quarter. Cetera Investment Advisers now owns 19,745 shares of the company's stock valued at $59,000 after buying an additional 9,379 shares in the last quarter. Intech Investment Management LLC purchased a new stake in shares of Prairie Operating in the second quarter worth approximately $39,000. Finally, Rockefeller Capital Management L.P. boosted its holdings in Prairie Operating by 22.8% during the 2nd quarter. Rockefeller Capital Management L.P. now owns 173,151 shares of the company's stock worth $519,000 after acquiring an additional 32,145 shares during the last quarter. 34.28% of the stock is owned by institutional investors.

Prairie Operating Company Profile

Prairie Operating NASDAQ: PROP is a publicly traded independent exploration and production company focused on the acquisition, development and operation of onshore oil and natural gas properties in the United States. The firm seeks to identify and capitalize on undervalued or overlooked assets, applying a disciplined approach to drilling, completion and production optimization. By concentrating on core resource plays, Prairie Operating aims to deliver steady production growth and free cash flow.

The company's asset base is concentrated in the Permian Basin region of West Texas and southeastern New Mexico, where it holds working interests in both conventional and unconventional reservoirs.

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