Piper Sandler began coverage on shares of Prairie Operating (NASDAQ:PROP - Free Report) in a research note released on Wednesday morning, MarketBeat Ratings reports. The brokerage issued an overweight rating and a $11.00 price target on the stock.
Prairie Operating Price Performance
PROP traded down $0.04 on Wednesday, hitting $4.38. The company had a trading volume of 399,741 shares, compared to its average volume of 222,357. Prairie Operating has a 1-year low of $3.35 and a 1-year high of $14.90. The company's fifty day moving average price is $5.16 and its 200 day moving average price is $7.07. The stock has a market cap of $117.64 million, a price-to-earnings ratio of -1.46 and a beta of 2.03.
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently bought and sold shares of PROP. Wells Fargo & Company MN grew its position in shares of 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 purchasing an additional 2,457 shares during the last quarter. FNY Investment Advisers LLC acquired a new stake in Prairie Operating in the 1st quarter valued at approximately $42,000. Barclays PLC increased its position in Prairie Operating by 321.7% in the 3rd quarter. Barclays PLC now owns 5,996 shares of the company's stock worth $52,000 after buying an additional 4,574 shares during the period. JPMorgan Chase & Co. increased its position in Prairie Operating by 163.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 6,966 shares of the company's stock worth $61,000 after buying an additional 4,321 shares during the period. Finally, Quotient Wealth Partners LLC acquired a new position in shares of Prairie Operating during the first quarter worth approximately $73,000. 34.28% of the stock is currently owned by institutional investors and hedge funds.
Prairie Operating Company Profile
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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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