Johnson Rice Begins Coverage on Prairie Operating (NASDAQ:PROP)

Johnson Rice assumed coverage on shares of Prairie Operating (NASDAQ:PROP) in a research report report published on Monday morning,Benzinga reports. The firm issued an accumulate rating and a $9.00 target price on the stock.

Separately, Piper Sandler started coverage on shares of Prairie Operating in a research note on Wednesday, April 30th. They issued an “overweight” rating and a $11.00 target price on the stock.

Prairie Operating Trading Down 4.3%

PROP stock opened at $4.45 on Monday. The business’s 50-day moving average is $4.84 and its 200 day moving average is $6.87. Prairie Operating has a 12-month low of $3.35 and a 12-month high of $14.03. The stock has a market cap of $119.52 million, a price-to-earnings ratio of -1.48 and a beta of 3.13.

Institutional Trading of Prairie Operating

Several institutional investors have recently made changes to their positions in the company. Quotient Wealth Partners LLC purchased a new stake in shares of Prairie Operating during the 1st quarter valued at approximately $73,000. Bank of New York Mellon Corp raised its position in shares of Prairie Operating by 30.6% during the 1st 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 during the period. FNY Investment Advisers LLC purchased a new stake in shares of Prairie Operating during the 1st quarter valued at approximately $42,000. Navigation Wealth Management Inc. raised its position in shares of Prairie Operating by 83.3% during the 1st quarter. Navigation Wealth Management Inc. now owns 22,007 shares of the company’s stock valued at $118,000 after buying an additional 10,000 shares during the period. Finally, Nuveen Asset Management LLC purchased a new stake in shares of Prairie Operating during the 4th quarter valued at approximately $97,000. Hedge funds and other institutional investors own 34.28% of the company’s stock.

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.