Prairie Operating (NASDAQ:PROP) Downgraded by Wall Street Zen to Sell

Prairie Operating (NASDAQ:PROP) was downgraded by analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Saturday.

Several other equities research analysts have also recently commented on the company. Weiss Ratings upgraded Prairie Operating from a “sell (e-)” rating to a “sell (e)” rating in a research note on Monday, June 1st. Zacks Research cut shares of Prairie Operating from a “hold” rating to a “strong sell” rating in a research note on Wednesday. One equities research analyst has rated the stock with a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Sell” and an average target price of $2.75.

Prairie Operating Stock Up 8.2%

NASDAQ:PROP opened at $0.78 on Friday. 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 company has a market cap of $59.46 million, a PE ratio of -0.37 and a beta of 1.25. Prairie Operating has a 52-week low of $0.58 and a 52-week high of $4.33. The stock has a 50-day simple moving average of $0.80 and a 200 day simple moving average of $1.39.

Insider Buying and Selling

In other Prairie Operating news, Director Richard N. Frommer purchased 75,500 shares of the business’s stock in a transaction on Tuesday, May 19th. The shares were purchased at an average cost of $0.87 per share, with a total value of $65,685.00. Following the transaction, the director directly owned 205,372 shares of the company’s stock, valued at $178,673.64. This represents a 58.13% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 3.09% of the stock is owned by company insiders.

Institutional Trading of Prairie Operating

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Engineers Gate Manager LP acquired a new stake in shares of Prairie Operating in the fourth quarter valued at about $25,000. Bank of America Corp DE boosted its position in Prairie Operating by 203.8% during the second quarter. Bank of America Corp DE now owns 9,812 shares of the company’s stock valued at $29,000 after purchasing an additional 6,582 shares during the last quarter. Retirement Planning Group LLC acquired a new position in Prairie Operating during the fourth quarter valued at approximately $29,000. Warther Private Wealth LLC bought a new position in Prairie Operating in the third quarter valued at approximately $31,000. Finally, JPMorgan Chase & Co. grew its stake in Prairie Operating by 411.4% in the second quarter. JPMorgan Chase & Co. now owns 10,740 shares of the company’s stock valued at $32,000 after purchasing an additional 8,640 shares in the last quarter. Institutional investors and hedge funds own 34.28% of the company’s stock.

About Prairie Operating