Johnson Rice Initiates Coverage on Prairie Operating (NASDAQ:PROP)

Analysts at Johnson Rice initiated coverage on shares of Prairie Operating (NASDAQ:PROP - Get Free Report) in a research note issued on Monday, MarketBeat Ratings reports. The firm set an "accumulate" rating and a $9.00 price target on the stock. Johnson Rice's price target points to a potential upside of 112.26% from the company's previous close.

Separately, Piper Sandler began coverage on shares of Prairie Operating in a report on Wednesday, April 30th. They set an "overweight" rating and a $11.00 price objective on the stock.

Prairie Operating Stock Performance

Shares of PROP traded up $0.02 during mid-day trading on Monday, reaching $4.24. 116,709 shares of the company were exchanged, compared to its average volume of 238,106. The business has a 50 day simple moving average of $4.74 and a two-hundred day simple moving average of $6.84. Prairie Operating has a 52 week low of $3.35 and a 52 week high of $13.59. The stock has a market capitalization of $113.88 million, a PE ratio of -1.40 and a beta of 3.13.

Institutional Trading of Prairie Operating

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Wells Fargo & Company MN lifted its holdings in shares of 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 acquiring an additional 2,457 shares during the last quarter. FNY Investment Advisers LLC bought a new stake in Prairie Operating during the 1st quarter valued at approximately $42,000. Barclays PLC raised its holdings in Prairie Operating by 321.7% in the third 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. JPMorgan Chase & Co. lifted its position in Prairie Operating by 163.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 6,966 shares of the company's stock valued at $61,000 after acquiring an additional 4,321 shares during the period. Finally, Quotient Wealth Partners LLC bought a new stake in shares of Prairie Operating in the 1st quarter worth approximately $73,000. 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.