Prairie Operating (NASDAQ:PROP) Trading 4.7% Higher – Time to Buy?

Prairie Operating Co. (NASDAQ:PROP)’s stock price shot up 4.7% during trading on Thursday . The stock traded as high as $0.8092 and last traded at $0.8040. Approximately 901,180 shares traded hands during trading, a decline of 66% from the average session volume of 2,662,390 shares. The stock had previously closed at $0.7682.

Wall Street Analysts Forecast Growth

PROP has been the subject of a number of analyst reports. Zacks Research upgraded shares of Prairie Operating from a “strong sell” rating to a “hold” rating in a report on Monday, June 15th. Weiss Ratings upgraded Prairie Operating from a “sell (e-)” rating to a “sell (e)” rating in a report on Monday, June 1st. Finally, Wall Street Zen raised Prairie Operating from a “sell” rating to a “hold” rating in a research report on Sunday, May 24th. Two research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Reduce” and an average target price of $2.75.

Prairie Operating Price Performance

The stock has a market cap of $61.56 million, a P/E ratio of -0.38 and a beta of 1.25. The company has a debt-to-equity ratio of 909.21, a quick ratio of 0.23 and a current ratio of 0.24. The firm has a 50-day moving average price of $0.85 and a 200-day moving average price of $1.43.

Insiders Place Their Bets

In other news, Director Richard N. Frommer acquired 75,500 shares of the firm’s stock in a transaction on Tuesday, May 19th. The stock was acquired at an average price of $0.87 per share, for a total transaction of $65,685.00. Following the completion of the acquisition, the director owned 205,372 shares in the company, valued at $178,673.64. This trade represents a 58.13% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 3.09% of the stock is currently owned by insiders.

Institutional Trading of Prairie Operating

A number of hedge funds have recently modified their holdings of PROP. Bank of America Corp DE boosted its holdings in shares of Prairie Operating by 203.8% during the 2nd quarter. Bank of America Corp DE now owns 9,812 shares of the company’s stock valued at $29,000 after buying an additional 6,582 shares in the last quarter. Vanguard Group Inc. increased 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 worth $2,533,000 after acquiring an additional 7,042 shares in the last quarter. Squarepoint Ops LLC lifted its position in Prairie Operating by 9.3% during the 3rd quarter. Squarepoint Ops LLC now owns 100,607 shares of the company’s stock valued at $200,000 after acquiring an additional 8,572 shares during the period. JPMorgan Chase & Co. lifted its position in Prairie Operating by 411.4% during the 2nd quarter. JPMorgan Chase & Co. now owns 10,740 shares of the company’s stock valued at $32,000 after acquiring an additional 8,640 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Prairie Operating by 363.9% during the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 11,779 shares of the company’s stock worth $35,000 after acquiring an additional 9,240 shares in the last quarter. Institutional investors own 34.28% of the company’s stock.

About Prairie Operating