Insider Buying: Prairie Operating Co. (NASDAQ:PROP) Director Buys 5,000 Shares of Stock

Prairie Operating Co. (NASDAQ:PROP - Get Free Report) Director Richard N. Frommer acquired 5,000 shares of the company's stock in a transaction that occurred on Friday, June 13th. The shares were acquired at an average price of $3.99 per share, for a total transaction of $19,950.00. Following the purchase, the director now owns 24,012 shares of the company's stock, valued at $95,807.88. This trade represents a 26.30% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Prairie Operating Stock Performance

Shares of NASDAQ:PROP remained flat at $3.97 during trading hours on Friday. 1,712,540 shares of the company's stock traded hands, compared to its average volume of 318,616. The firm has a fifty day moving average price of $4.02 and a two-hundred day moving average price of $5.98. Prairie Operating Co. has a 12 month low of $3.35 and a 12 month high of $12.30. The firm has a market capitalization of $174.01 million, a price-to-earnings ratio of -1.32 and a beta of 2.03. The company has a debt-to-equity ratio of 11.17, a current ratio of 0.57 and a quick ratio of 0.56.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Wells Fargo & Company MN increased its stake in shares of 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 acquiring an additional 2,457 shares during the period. FNY Investment Advisers LLC acquired a new position in shares of Prairie Operating during the first quarter valued at approximately $42,000. SageView Advisory Group LLC acquired a new position in shares of Prairie Operating during the first quarter valued at approximately $59,000. Quotient Wealth Partners LLC acquired a new position in shares of Prairie Operating during the first quarter valued at approximately $73,000. Finally, Bank of New York Mellon Corp increased its stake in shares of Prairie Operating by 30.6% during the first quarter. Bank of New York Mellon Corp now owns 14,741 shares of the company's stock valued at $79,000 after acquiring an additional 3,453 shares during the period. Institutional investors and hedge funds own 34.28% of the company's stock.

Analysts Set New Price Targets

PROP has been the topic of several research reports. Citigroup initiated coverage on shares of Prairie Operating in a research note on Monday, June 2nd. They set a "buy" rating and a $8.00 price objective on the stock. Roth Capital assumed coverage on shares of Prairie Operating in a research note on Thursday, June 12th. They issued a "buy" rating and a $8.00 price target on the stock. Johnson Rice assumed coverage on shares of Prairie Operating in a research note on Monday, May 12th. They issued an "accumulate" rating and a $9.00 price target on the stock. Wall Street Zen upgraded shares of Prairie Operating from a "sell" rating to a "hold" rating in a research note on Friday, June 6th. Finally, Piper Sandler dropped their price target 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 investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to MarketBeat, Prairie Operating has an average rating of "Moderate Buy" and an average price target of $8.75.

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.