GWN Securities Inc. Boosts Stake in Prairie Operating Co. $PROP

GWN Securities Inc. increased its position in Prairie Operating Co. (NASDAQ:PROP) by 143.5% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 27,438 shares of the company’s stock after buying an additional 16,172 shares during the period. GWN Securities Inc. owned 0.06% of Prairie Operating worth $83,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the company. FNY Investment Advisers LLC lifted its position in shares of Prairie Operating by 92.2% in the second quarter. FNY Investment Advisers LLC now owns 15,376 shares of the company’s stock worth $46,000 after buying an additional 7,376 shares in the last quarter. Moss Adams Wealth Advisors LLC purchased a new stake in shares of Prairie Operating in the second quarter worth about $51,000. Brave Asset Management Inc. purchased a new stake in shares of Prairie Operating in the second quarter worth about $60,000. Navigation Wealth Management Inc. lifted its position in shares of Prairie Operating by 13.6% in the second quarter. Navigation Wealth Management Inc. now owns 25,007 shares of the company’s stock worth $75,000 after buying an additional 3,000 shares in the last quarter. Finally, Hodges Capital Management Inc. purchased a new stake in shares of Prairie Operating in the first quarter worth about $2,943,000. 34.28% of the stock is currently owned by hedge funds and other institutional investors.

Prairie Operating Trading Up 1.0%

Shares of PROP stock opened at $1.99 on Friday. Prairie Operating Co. has a 1 year low of $1.64 and a 1 year high of $10.58. The company has a debt-to-equity ratio of 4.13, a current ratio of 0.60 and a quick ratio of 0.58. The stock’s 50 day simple moving average is $2.06 and its two-hundred day simple moving average is $3.14. The company has a market cap of $100.06 million, a PE ratio of -0.52 and a beta of 2.12.

Prairie Operating (NASDAQ:PROP) last announced its earnings results on Tuesday, August 12th. The company reported $0.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.28 by ($1.10). The business had revenue of $68.10 million during the quarter, compared to analyst estimates of $125.50 million. Research analysts predict that Prairie Operating Co. will post -2.13 earnings per share for the current year.

Insider Buying and Selling at Prairie Operating

In other Prairie Operating news, Director Jonathan H. Gray purchased 89,000 shares of Prairie Operating stock in a transaction dated Friday, September 5th. The shares were purchased at an average cost of $2.11 per share, for a total transaction of $187,790.00. Following the completion of the acquisition, the director owned 675,817 shares in the company, valued at $1,425,973.87. This represents a 15.17% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders purchased 442,480 shares of company stock valued at $937,103 in the last quarter. Corporate insiders own 15.44% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently commented on PROP. Piper Sandler decreased their target price on Prairie Operating to $2.00 and set a “neutral” rating on the stock in a research report on Tuesday, October 21st. KeyCorp assumed coverage on Prairie Operating in a research report on Thursday, July 3rd. They issued a “sector weight” rating on the stock. Wall Street Zen upgraded Prairie Operating from a “sell” rating to a “hold” rating in a research report on Saturday, August 16th. Finally, Weiss Ratings restated a “sell (d+)” rating on shares of Prairie Operating in a research report on Tuesday, October 14th. Three investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $6.75.

Prairie Operating 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.