Richard N. Frommer Buys 5,000 Shares of Prairie Operating Co. (NASDAQ:PROP) Stock

Prairie Operating Co. (NASDAQ:PROP - Get Free Report) Director Richard N. Frommer acquired 5,000 shares of the firm's stock in a transaction dated Friday, June 13th. The shares were purchased at an average cost of $3.99 per share, for a total transaction of $19,950.00. Following the acquisition, the director now directly owns 24,012 shares in the company, valued at $95,807.88. This represents a 26.30% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Prairie Operating Trading Up 1.0%

NASDAQ:PROP traded up $0.04 on Wednesday, reaching $3.97. The stock had a trading volume of 507,706 shares, compared to its average volume of 312,146. The company has a debt-to-equity ratio of 11.17, a current ratio of 0.57 and a quick ratio of 0.56. Prairie Operating Co. has a 1-year low of $3.35 and a 1-year high of $12.30. The stock has a fifty day moving average price of $4.04 and a 200-day moving average price of $6.05.

Institutional Trading of Prairie Operating

Several hedge funds have recently modified their holdings of the company. Wells Fargo & Company MN boosted 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 worth $30,000 after acquiring an additional 2,457 shares in the last quarter. FNY Investment Advisers LLC bought a new position in Prairie Operating in the 1st quarter valued at $42,000. SageView Advisory Group LLC acquired a new position in Prairie Operating in the first quarter worth $59,000. Quotient Wealth Partners LLC bought a new stake in shares of Prairie Operating during the first quarter worth $73,000. Finally, Bank of New York Mellon Corp increased its stake in shares of Prairie Operating by 30.6% in the first quarter. Bank of New York Mellon Corp now owns 14,741 shares of the company's stock valued at $79,000 after buying an additional 3,453 shares in the last quarter. Institutional investors and hedge funds own 34.28% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on PROP. Roth Capital started coverage on shares of Prairie Operating in a research note on Thursday, June 12th. They issued a "buy" rating and a $8.00 target price on the stock. Wall Street Zen raised Prairie Operating from a "sell" rating to a "hold" rating in a report on Friday, June 6th. Citigroup initiated coverage on Prairie Operating in a report on Monday, June 2nd. They issued a "buy" rating and a $8.00 target price for the company. Johnson Rice initiated coverage on Prairie Operating in a research report on Monday, May 12th. They set an "accumulate" rating and a $9.00 target price for the company. Finally, Piper Sandler lowered their price target on Prairie Operating from $11.00 to $10.00 and set an "overweight" rating on the stock in a research report on Tuesday, May 13th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $8.75.

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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