Brokerages Set Prairie Operating Co. (NASDAQ:PROP) PT at $5.38

Prairie Operating Co. (NASDAQ:PROP) has been given an average rating of “Reduce” by the five brokerages that are covering the firm, Marketbeat.com reports. Two analysts have rated the stock with a sell recommendation, two have issued a hold recommendation and one has given a buy recommendation to the company. The average twelve-month target price among analysts that have covered the stock in the last year is $4.50.

PROP has been the subject of several recent research reports. Wall Street Zen upgraded shares of Prairie Operating from a “sell” rating to a “hold” rating in a research note on Sunday, May 24th. William Blair set a $3.50 price objective on shares of Prairie Operating in a research report on Tuesday, March 3rd. Finally, Zacks Research downgraded shares of Prairie Operating from a “hold” rating to a “strong sell” rating in a research report on Thursday, March 5th.

Insider Buying and Selling

In other news, Director Richard N. Frommer acquired 75,500 shares of Prairie Operating stock in a transaction that occurred on Tuesday, May 19th. The stock was purchased at an average price of $0.87 per share, for a total transaction of $65,685.00. Following the completion of the transaction, the director directly owned 205,372 shares in the company, valued at approximately $178,673.64. This trade represents a 58.13% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 3.09% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Prairie Operating

Hedge funds have recently added to or reduced their stakes in the company. Engineers Gate Manager LP acquired a new stake in shares of Prairie Operating during the 4th quarter valued at approximately $25,000. ELCO Management Co. LLC acquired a new stake in shares of Prairie Operating during the 3rd quarter valued at approximately $26,000. Retirement Planning Group LLC purchased a new position in shares of Prairie Operating during the 4th quarter worth approximately $29,000. Bank of America Corp DE increased its stake 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 worth $29,000 after purchasing an additional 6,582 shares in the last quarter. Finally, Warther Private Wealth LLC purchased a new position in shares of Prairie Operating during the 3rd quarter worth approximately $31,000. Institutional investors and hedge funds own 34.28% of the company’s stock.

Prairie Operating Price Performance

Shares of PROP opened at $0.94 on Thursday. Prairie Operating has a fifty-two week low of $0.77 and a fifty-two week high of $4.33. The company has a market capitalization of $71.82 million, a price-to-earnings ratio of -0.45 and a beta of 1.23. The firm has a 50-day simple moving average of $1.34 and a 200-day simple moving average of $1.62. The company has a debt-to-equity ratio of 909.21, a quick ratio of 0.23 and a current ratio of 0.24.

About Prairie Operating