Prairie Operating (NASDAQ:PROP) Price Target Cut to $9.00 by Analysts at Piper Sandler

Prairie Operating (NASDAQ:PROP - Get Free Report) had its price objective cut by stock analysts at Piper Sandler from $10.00 to $9.00 in a note issued to investors on Thursday,Benzinga reports. The firm currently has an "overweight" rating on the stock. Piper Sandler's price objective points to a potential upside of 131.96% from the company's previous close.

A number of other brokerages have also recently weighed in on PROP. Wall Street Zen cut shares of Prairie Operating from a "hold" rating to a "sell" rating in a research note on Saturday, July 12th. Citigroup began coverage on shares of Prairie Operating in a research report on Monday, June 2nd. They set a "buy" rating and a $8.00 target price on the stock. 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. Roth Capital began coverage on shares of Prairie Operating in a research report on Thursday, June 12th. They set a "buy" rating and a $8.00 target price on the stock. Finally, Johnson Rice began coverage on shares of Prairie Operating in a research report on Monday, May 12th. They set an "accumulate" rating and a $9.00 target price on the stock. One analyst has rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $8.50.

Prairie Operating Stock Up 9.3%

NASDAQ PROP traded up $0.33 during trading on Thursday, reaching $3.88. The company's stock had a trading volume of 2,019,138 shares, compared to its average volume of 410,651. The business has a 50-day moving average price of $3.79 and a 200-day moving average price of $5.47. The company has a current ratio of 0.57, a quick ratio of 0.56 and a debt-to-equity ratio of 11.17. Prairie Operating has a 1-year low of $2.74 and a 1-year high of $12.30. The stock has a market capitalization of $170.06 million, a PE ratio of -1.29 and a beta of 1.92.

Insider Buying and Selling at Prairie Operating

In other Prairie Operating news, CEO Edward Kovalik purchased 6,700 shares of the stock in a transaction on Friday, May 23rd. The shares were purchased at an average price of $3.74 per share, with a total value of $25,058.00. Following the acquisition, the chief executive officer directly owned 1,339,055 shares of the company's stock, valued at $5,008,065.70. This represents a 0.50% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, President Gary C. Hanna purchased 25,000 shares of the stock in a transaction 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 acquisition, the president directly owned 1,350,226 shares in the company, valued at approximately $5,171,365.58. This trade represents a 1.89% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders acquired a total of 57,340 shares of company stock worth $217,567 in the last three months. Insiders own 15.44% of the company's stock.

Institutional Investors Weigh In On Prairie Operating

Several large investors have recently made changes to their positions in the company. Wells Fargo & Company MN lifted its position in Prairie Operating by 128.0% during the 4th quarter. Wells Fargo & Company MN now owns 4,376 shares of the company's stock worth $30,000 after buying an additional 2,457 shares in the last quarter. FNY Investment Advisers LLC acquired a new position in Prairie Operating during the 1st quarter worth about $42,000. Moss Adams Wealth Advisors LLC acquired a new position in Prairie Operating during the 2nd quarter worth about $51,000. SageView Advisory Group LLC acquired a new position in Prairie Operating during the 1st quarter worth about $59,000. Finally, Brave Asset Management Inc. acquired a new position in Prairie Operating during the 2nd quarter worth about $60,000. Institutional investors 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.