Piper Sandler Begins Coverage on Prairie Operating (NASDAQ:PROP)

Piper Sandler started coverage on shares of Prairie Operating (NASDAQ:PROP - Free Report) in a report released on Wednesday, Marketbeat reports. The brokerage issued an overweight rating and a $11.00 price objective on the stock.

Prairie Operating Stock Up 0.8 %

Shares of PROP stock traded up $0.04 on Wednesday, reaching $4.42. The stock had a trading volume of 483,198 shares, compared to its average volume of 223,936. Prairie Operating has a 12 month low of $3.35 and a 12 month high of $14.60. The firm's 50-day moving average is $5.16 and its two-hundred day moving average is $7.05. The firm has a market capitalization of $118.58 million, a price-to-earnings ratio of -1.48 and a beta of 3.13.

Institutional Investors Weigh In On Prairie Operating

A number of large investors have recently modified their holdings of the business. 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 in the last quarter. Barclays PLC increased its position in Prairie Operating by 321.7% during the 3rd quarter. Barclays PLC now owns 5,996 shares of the company's stock worth $52,000 after purchasing an additional 4,574 shares in the last quarter. Geode Capital Management LLC lifted its stake in Prairie Operating by 16.5% in the 3rd quarter. Geode Capital Management LLC now owns 121,966 shares of the company's stock valued at $1,069,000 after purchasing an additional 17,290 shares during the last quarter. State Street Corp boosted its position in Prairie Operating by 56.4% in the third quarter. State Street Corp now owns 62,041 shares of the company's stock valued at $543,000 after buying an additional 22,384 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its stake in shares of 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 buying an additional 4,321 shares during the last quarter. Institutional investors and hedge funds own 34.28% of the company's stock.

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.