Prairie Operating Co. (NASDAQ:PROP) Short Interest Update

Prairie Operating Co. (NASDAQ:PROP) saw a large growth in short interest during the month of August. As of August 15th, there was short interest totaling 5,790,000 shares, agrowthof124.4% from the July 31st total of 2,580,000 shares. Based on an average daily volume of 1,750,000 shares, the days-to-cover ratio is presently 3.3 days. Currently,30.5% of the company’s stock are sold short. Currently,30.5% of the company’s stock are sold short. Based on an average daily volume of 1,750,000 shares, the days-to-cover ratio is presently 3.3 days.

Prairie Operating Price Performance

Shares of PROP opened at $2.25 on Thursday. The firm has a market cap of $113.13 million, a price-to-earnings ratio of -0.75 and a beta of 2.15. The stock has a 50 day moving average of $3.19 and a 200-day moving average of $4.33. The company has a current ratio of 0.60, a quick ratio of 0.58 and a debt-to-equity ratio of 4.13. Prairie Operating has a 52 week low of $2.01 and a 52 week high of $12.30.

Prairie Operating (NASDAQ:PROP) last issued its quarterly earnings data on Tuesday, August 12th. The company reported $0.18 EPS for the quarter, missing analysts’ consensus estimates of $1.28 by ($1.10). The company had revenue of $68.10 million during the quarter, compared to analysts’ expectations of $125.50 million. As a group, analysts forecast that Prairie Operating will post -2.13 EPS for the current year.

Analyst Ratings Changes

Several research firms have issued reports on PROP. Wall Street Zen upgraded Prairie Operating from a “sell” rating to a “hold” rating in a report on Saturday, August 16th. Johnson Rice assumed coverage on Prairie Operating in a research report on Monday, May 12th. They issued an “accumulate” rating and a $9.00 target price for the company. Roth Capital assumed coverage on Prairie Operating in a research report on Thursday, June 12th. They issued a “buy” rating and a $8.00 target price for the company. Citigroup assumed coverage on Prairie Operating in a research report on Monday, June 2nd. They issued a “buy” rating and a $8.00 target price for the company. Finally, Piper Sandler lowered Prairie Operating from an “overweight” rating to a “neutral” rating in a research report on Monday, August 18th. Three equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $8.50.

Insider Transactions at Prairie Operating

In other Prairie Operating news, Director Jonathan H. Gray acquired 120,563 shares of the company’s stock in a transaction on Thursday, August 21st. The shares were bought at an average cost of $2.16 per share, for a total transaction of $260,416.08. Following the acquisition, the director directly owned 586,817 shares of the company’s stock, valued at $1,267,524.72. This trade represents a 25.86% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In the last quarter, insiders purchased 363,480 shares of company stock worth $789,213. 15.44% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Prairie Operating by 1,043.2% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 27,265 shares of the company’s stock worth $189,000 after buying an additional 24,880 shares during the last quarter. Northern Trust Corp grew its stake in Prairie Operating by 92.6% during the 4th quarter. Northern Trust Corp now owns 62,884 shares of the company’s stock worth $435,000 after buying an additional 30,242 shares during the last quarter. Wells Fargo & Company MN grew its stake in Prairie Operating by 128.0% during the 4th quarter. Wells Fargo & Company MN now owns 4,376 shares of the company’s stock worth $30,000 after buying an additional 2,457 shares during the last quarter. Nuveen Asset Management LLC bought a new position in Prairie Operating during the 4th quarter worth $97,000. Finally, Bank of New York Mellon Corp grew its stake in 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 worth $79,000 after buying an additional 3,453 shares during the last quarter. 34.28% of the stock is currently owned by institutional investors.

About Prairie Operating

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.