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

Key Points

• Wall Street Zen upgraded Prairie Operating from “sell” to “hold,” but analyst sentiment remains negative overall, with a consensus “Reduce” rating and a $2.50 target price.
• PROP shares opened at $0.53, near their 12-month low of $0.53 and well below the 12-month high of $2.72; the company reported quarterly EPS of $0.23, beating estimates of $0.02, on $98.86 million in revenue.
• Institutional investors own 34.28% of Prairie Operating, with several firms—including JPMorgan and Bank of America—substantially increasing their positions in recent quarters.

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

Several other equities research analysts also recently commented on the stock. Zacks Research downgraded shares of Prairie Operating from a "hold" rating to a "strong sell" rating in a research report on Wednesday, July 15th. 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. Finally, Roth Capital reaffirmed a "buy" rating and set a $2.00 price target on shares of Prairie Operating in a research note on Monday. One investment analyst has rated the stock with a Buy rating, one has assigned a Hold rating and two have given a Sell rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Reduce" and a consensus target price of $2.50.

Prairie Operating Price Performance

Shares of PROP opened at $0.53 on Friday. The company has a quick ratio of 0.23, a current ratio of 0.25 and a debt-to-equity ratio of 1.96. The stock has a market cap of $59.65 million, a PE ratio of -0.26 and a beta of 1.25. Prairie Operating has a 12-month low of $0.53 and a 12-month high of $2.72. The business has a 50-day simple moving average of $0.73 and a two-hundred day simple moving average of $1.20.

Prairie Operating (NASDAQ:PROP - Get Free Report) last announced its quarterly earnings results on Friday, August 14th. The company reported $0.23 EPS for the quarter, beating analysts' consensus estimates of $0.02 by $0.21. The firm had revenue of $98.86 million for the quarter. Prairie Operating had a positive return on equity of 46.53% and a negative net margin of 13.02%. Analysts anticipate that Prairie Operating will post 0.51 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the company. Bank of America Corp DE lifted its position in shares of Prairie Operating by 203.8% in the 2nd quarter. Bank of America Corp DE now owns 9,812 shares of the company's stock worth $29,000 after purchasing an additional 6,582 shares during the period. Vanguard Group Inc. grew its stake in shares of Prairie Operating by 0.6% in the 3rd 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. Squarepoint Ops LLC grew its stake in shares of Prairie Operating by 9.3% in the 3rd quarter. Squarepoint Ops LLC now owns 100,607 shares of the company's stock valued at $200,000 after buying an additional 8,572 shares during the period. JPMorgan Chase & Co. increased its position in Prairie Operating by 411.4% in the 2nd quarter. JPMorgan Chase & Co. now owns 10,740 shares of the company's stock valued at $32,000 after buying an additional 8,640 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in Prairie Operating by 363.9% in the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 11,779 shares of the company's stock valued at $35,000 after buying an additional 9,240 shares in the last quarter. Institutional investors own 34.28% of the company's stock.

About Prairie Operating

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