Prairie Operating (NASDAQ:PROP) Earns "Sell (D+)" Rating from Weiss Ratings

Key Points

• Prairie Operating has received a "Sell (D+)" rating from Weiss Ratings, indicating concerns about its stock performance.
• Shares of the company recently traded at $1.93, significantly lower than its 1-year high of $10.58, showcasing a decline in market value.
• Insider transactions show that Director Jonathan H. Gray bought 89,000 shares recently, raising insider ownership to 15.44%, suggesting some confidence in the company's prospects.

Prairie Operating (NASDAQ:PROP - Get Free Report)'s stock had its "sell (d+)" rating reissued by Weiss Ratings in a note issued to investors on Tuesday,Weiss Ratings reports.

Several other analysts have also recently issued reports on the stock. Piper Sandler cut shares of Prairie Operating from an "overweight" rating to a "neutral" rating in a research report on Monday, August 18th. KeyCorp began coverage on shares of Prairie Operating in a research report on Thursday, July 3rd. They set a "sector weight" rating on the stock. Finally, Wall Street Zen upgraded shares of Prairie Operating from a "sell" rating to a "hold" rating in a report on Saturday, August 16th. Three investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Prairie Operating presently has a consensus rating of "Hold" and a consensus target price of $8.50.

Prairie Operating Price Performance

Shares of NASDAQ PROP traded up $0.07 during mid-day trading on Tuesday, hitting $1.93. 1,197,871 shares of the company's stock traded hands, compared to its average volume of 1,133,711. The company's 50-day moving average is $2.32 and its two-hundred day moving average is $3.36. The company has a debt-to-equity ratio of 4.13, a current ratio of 0.60 and a quick ratio of 0.58. The company has a market capitalization of $96.79 million, a P/E ratio of -0.64 and a beta of 2.12. Prairie Operating has a 1 year low of $1.77 and a 1 year high of $10.58.

Prairie Operating (NASDAQ:PROP - Get Free Report) last announced its earnings results on Tuesday, August 12th. The company reported $0.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.28 by ($1.10). The firm had revenue of $68.10 million for the quarter, compared to analysts' expectations of $125.50 million. On average, equities analysts anticipate that Prairie Operating will post -2.13 EPS for the current fiscal year.

Insider Buying and Selling at Prairie Operating

In other news, Director Jonathan H. Gray bought 89,000 shares of the firm's stock in a transaction that occurred on Friday, September 5th. The stock was bought at an average price of $2.11 per share, with a total value of $187,790.00. Following the completion of the transaction, the director directly owned 675,817 shares of the company's stock, valued at approximately $1,425,973.87. The trade was a 15.17% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Over the last three months, insiders have purchased 442,480 shares of company stock valued at $937,103. 15.44% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Prairie Operating

Several institutional investors and hedge funds have recently made changes to their positions in PROP. Hodges Capital Management Inc. purchased a new position in shares of Prairie Operating during the first quarter worth $2,943,000. Bank of New York Mellon Corp raised its holdings in shares of Prairie Operating by 30.6% during the first quarter. Bank of New York Mellon Corp now owns 14,741 shares of the company's stock worth $79,000 after purchasing an additional 3,453 shares during the last quarter. Brave Asset Management Inc. purchased a new position in shares of Prairie Operating during the second quarter worth $60,000. Wellington Management Group LLP purchased a new position in shares of Prairie Operating during the first quarter worth $97,000. Finally, Quotient Wealth Partners LLC purchased a new position in shares of Prairie Operating during the first quarter worth $73,000. 34.28% of the stock is currently owned by institutional investors and hedge funds.

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.

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