Prairie Operating (NASDAQ:PROP) Upgraded by Wall Street Zen to "Hold" Rating

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

Several other research analysts also recently commented on the stock. Citigroup began coverage on shares of Prairie Operating in a report on Monday. They issued a "buy" rating and a $8.00 price target for the company. Johnson Rice assumed coverage on shares of Prairie Operating in a research report on Monday, May 12th. They issued an "accumulate" rating and a $9.00 price objective on the stock. Finally, Piper Sandler lowered their target price on shares of Prairie Operating from $11.00 to $10.00 and set an "overweight" rating on the stock in a research note on Tuesday, May 13th. One analyst has rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, Prairie Operating has an average rating of "Moderate Buy" and a consensus target price of $9.00.

Prairie Operating Stock Down 0.8%

PROP traded down $0.03 during trading hours on Friday, hitting $3.90. The stock had a trading volume of 665,670 shares, compared to its average volume of 288,256. Prairie Operating has a 1 year low of $3.35 and a 1 year high of $13.59. The company's fifty day simple moving average is $4.08 and its 200 day simple moving average is $6.29. The stock has a market cap of $170.94 million, a PE ratio of -1.30 and a beta of 2.03.

Insider Transactions at Prairie Operating

In other news, President Gary C. Hanna acquired 25,000 shares of Prairie Operating stock in a transaction that occurred on Tuesday, May 27th. The stock was bought at an average price of $3.83 per share, for a total transaction of $95,750.00. Following the completion of the transaction, the president now owns 1,350,226 shares in the company, valued at $5,171,365.58. The trade was a 1.89% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Edward Kovalik bought 7,140 shares of the business's stock in a transaction that occurred on Thursday, May 22nd. The shares were acquired at an average price of $3.51 per share, with a total value of $25,061.40. Following the completion of the transaction, the chief executive officer now directly owns 1,332,355 shares of the company's stock, valued at $4,676,566.05. This trade represents a 0.54% increase in their position. The disclosure for this purchase can be found here. Over the last 90 days, insiders have bought 43,840 shares of company stock worth $163,847. Corporate insiders own 15.44% of the company's stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Rhumbline Advisers raised its position in shares of Prairie Operating by 1,053.9% during the fourth quarter. Rhumbline Advisers now owns 40,224 shares of the company's stock valued at $278,000 after buying an additional 36,738 shares during the last quarter. Geode Capital Management LLC grew its position in shares of Prairie Operating by 105.5% during the fourth quarter. Geode Capital Management LLC now owns 250,614 shares of the company's stock valued at $1,734,000 after purchasing an additional 128,648 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Prairie Operating by 1,043.2% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 27,265 shares of the company's stock worth $189,000 after purchasing an additional 24,880 shares during the last quarter. Wells Fargo & Company MN boosted its stake in Prairie Operating by 128.0% during the fourth 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 last quarter. Finally, Northern Trust Corp increased its stake in Prairie Operating by 92.6% in the 4th quarter. Northern Trust Corp now owns 62,884 shares of the company's stock worth $435,000 after acquiring an additional 30,242 shares during the last quarter. Hedge funds and other 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.

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