Prairie Operating (NASDAQ:PROP) Cut to Sell at Wall Street Zen

Wall Street Zen lowered shares of Prairie Operating (NASDAQ:PROP) from a hold rating to a sell rating in a report issued on Saturday morning.

Several other research firms also recently weighed in on PROP. Piper Sandler decreased their price target on shares of Prairie Operating from $11.00 to $10.00 and set an “overweight” rating on the stock in a research report on Tuesday, May 13th. Johnson Rice began coverage on Prairie Operating in a report on Monday, May 12th. They issued an “accumulate” rating and a $9.00 target price on the stock.

Prairie Operating Stock Up 12.6%

NASDAQ PROP opened at $3.92 on Friday. The company has a 50-day moving average price of $4.37 and a 200-day moving average price of $6.54. Prairie Operating has a 52 week low of $3.35 and a 52 week high of $13.59. The firm has a market capitalization of $171.81 million, a P/E ratio of -1.31 and a beta of 3.13.

Institutional Investors Weigh In On Prairie Operating

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Woodline Partners LP bought a new position in shares of Prairie Operating in the first quarter worth approximately $3,678,000. Geode Capital Management LLC boosted its holdings in Prairie Operating by 105.5% in the 4th quarter. Geode Capital Management LLC now owns 250,614 shares of the company’s stock worth $1,734,000 after buying an additional 128,648 shares during the period. Rhumbline Advisers increased its stake in Prairie Operating by 1,053.9% in the 4th quarter. Rhumbline Advisers now owns 40,224 shares of the company’s stock worth $278,000 after buying an additional 36,738 shares in the last quarter. Northern Trust Corp raised its holdings in Prairie Operating by 92.6% during the fourth quarter. Northern Trust Corp now owns 62,884 shares of the company’s stock valued at $435,000 after acquiring an additional 30,242 shares during the period. Finally, Marshall Wace LLP purchased a new position in shares of Prairie Operating in the fourth quarter valued at about $201,000. 34.28% of the stock is owned by hedge funds and other institutional investors.

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.