Prairie Operating (NASDAQ:PROP) Rating Lowered to Sell at Wall Street Zen

Key Points

• Prairie Operating was downgraded by Wall Street Zen from hold to sell, adding to a generally bearish analyst outlook. Zacks Research also cut its rating to strong sell.
• The stock recently traded at $0.78, near its 50-day average of $0.80 and well below its 200-day average of $1.39. It remains highly leveraged, with a debt-to-equity ratio of 909.21 and a market cap of about $59.46 million.
• There was notable insider and institutional activity: Director Richard N. Frommer bought 75,500 shares, while institutional investors such as Vanguard, Geode, Woodline, and Marshall Wace have also increased or initiated positions. Institutional ownership stands at 34.28%.

Prairie Operating (NASDAQ:PROP - Get Free Report) was downgraded by equities research analysts at Wall Street Zen from a "hold" rating to a "sell" rating in a research note issued on Saturday.

Several other research firms have also issued reports on PROP. Zacks Research lowered Prairie Operating from a "hold" rating to a "strong sell" rating in a research report on Wednesday. Weiss Ratings upgraded shares of Prairie Operating from a "sell (e-)" rating to a "sell (e)" rating in a research report on Monday, June 1st. One research analyst has rated the stock with a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, Prairie Operating currently has a consensus rating of "Sell" and a consensus price target of $2.75.

Prairie Operating Stock Up 8.2%

Shares of Prairie Operating stock opened at $0.78 on Friday. The business has a fifty day simple moving average of $0.80 and a 200 day simple moving average of $1.39. The stock has a market cap of $59.46 million, a PE ratio of -0.37 and a beta of 1.25. The company has a quick ratio of 0.23, a current ratio of 0.24 and a debt-to-equity ratio of 909.21. Prairie Operating has a 12 month low of $0.58 and a 12 month high of $4.33.

Insider Buying and Selling at Prairie Operating

In other Prairie Operating news, Director Richard N. Frommer bought 75,500 shares of the stock in a transaction that occurred on Tuesday, May 19th. The stock was acquired at an average cost of $0.87 per share, with a total value of $65,685.00. Following the purchase, the director owned 205,372 shares in the company, valued at $178,673.64. This trade represents a 58.13% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 3.09% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. boosted its holdings in shares of Prairie Operating by 0.6% in the third quarter. Vanguard Group Inc. now owns 1,276,221 shares of the company's stock valued at $2,533,000 after buying an additional 7,042 shares during the period. Lazard Asset Management LLC acquired a new stake in shares of Prairie Operating during the fourth quarter worth $1,628,000. Geode Capital Management LLC raised its holdings in shares of Prairie Operating by 17.1% during the fourth quarter. Geode Capital Management LLC now owns 778,434 shares of the company's stock worth $1,316,000 after acquiring an additional 113,720 shares during the period. Woodline Partners LP bought a new stake in Prairie Operating in the 1st quarter valued at $3,678,000. Finally, Marshall Wace LLP bought a new stake in Prairie Operating in the 2nd quarter valued at $860,000. Institutional investors own 34.28% of the company's stock.

About Prairie Operating

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