Prairie Operating (NASDAQ:PROP) Stock Rating Lowered by Wall Street Zen

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

Several other brokerages have also commented on PROP. KeyCorp began coverage on Prairie Operating in a research note on Thursday, July 3rd. They issued a "sector weight" rating on the stock. Piper Sandler cut their price objective on Prairie Operating from $11.00 to $10.00 and set an "overweight" rating on the stock in a report on Tuesday, May 13th. Roth Capital began coverage on Prairie Operating in a report on Thursday, June 12th. They issued a "buy" rating and a $8.00 price objective on the stock. Johnson Rice began coverage on Prairie Operating in a report on Monday, May 12th. They issued an "accumulate" rating and a $9.00 price objective on the stock. Finally, Citigroup began coverage on Prairie Operating in a report on Monday, June 2nd. They issued a "buy" rating and a $8.00 price objective on the stock. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have given a buy rating to the company. According to data from MarketBeat, Prairie Operating has an average rating of "Moderate Buy" and a consensus price target of $8.75.

Prairie Operating Stock Performance

NASDAQ PROP opened at $3.50 on Friday. The stock's fifty day moving average is $3.84 and its two-hundred day moving average is $5.54. The firm has a market capitalization of $153.41 million, a P/E ratio of -1.17 and a beta of 1.92. The company has a debt-to-equity ratio of 11.17, a quick ratio of 0.56 and a current ratio of 0.57. Prairie Operating has a fifty-two week low of $2.74 and a fifty-two week high of $12.30.

Insider Transactions at Prairie Operating

In other Prairie Operating news, President Gary C. Hanna acquired 25,000 shares of the company's stock in a transaction dated Tuesday, May 27th. The shares were acquired at an average price of $3.83 per share, for a total transaction of $95,750.00. Following the acquisition, the president owned 1,350,226 shares in the company, valued at $5,171,365.58. The trade was a 1.89% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Edward Kovalik purchased 7,140 shares of the company's stock in a transaction that occurred on Thursday, May 22nd. The shares were purchased at an average price of $3.51 per share, for a total transaction of $25,061.40. Following the purchase, the chief executive officer directly owned 1,332,355 shares in the company, valued at $4,676,566.05. The trade was a 0.54% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last quarter, insiders bought 57,340 shares of company stock worth $217,567. Company insiders own 15.44% of the company's stock.

Institutional Trading of Prairie Operating

A number of hedge funds have recently added to or reduced their stakes in the stock. Wells Fargo & Company MN lifted its holdings in shares of Prairie Operating by 128.0% in the 4th quarter. Wells Fargo & Company MN now owns 4,376 shares of the company's stock valued at $30,000 after buying an additional 2,457 shares during the period. FNY Investment Advisers LLC acquired a new position in shares of Prairie Operating in the first quarter worth $42,000. SageView Advisory Group LLC acquired a new position in shares of Prairie Operating in the first quarter worth $59,000. Quotient Wealth Partners LLC acquired a new position in shares of Prairie Operating in the first quarter worth $73,000. Finally, Navigation Wealth Management Inc. raised its holdings in shares of Prairie Operating by 13.6% in the second quarter. Navigation Wealth Management Inc. now owns 25,007 shares of the company's stock worth $75,000 after acquiring an additional 3,000 shares during the last quarter. 34.28% of the stock is owned by institutional investors and hedge funds.

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.

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