Insider Buying: Prairie Operating (NASDAQ:PROP) Major Shareholder Acquires $61,657.68 in Stock

Prairie Operating Co. (NASDAQ:PROP) major shareholder Nominees Pty Ltd Atf Narrogal acquired 36,701 shares of the business’s stock in a transaction on Thursday, December 18th. The stock was acquired at an average price of $1.68 per share, with a total value of $61,657.68. Following the acquisition, the insider owned 15,186,797 shares in the company, valued at $25,513,818.96. The trade was a 0.24% increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at this link. Major shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Nominees Pty Ltd Atf Narrogal also recently made the following trade(s):

• On Wednesday, December 17th, Nominees Pty Ltd Atf Narrogal purchased 70,795 shares of Prairie Operating stock. The shares were bought at an average price of $1.68 per share, for a total transaction of $118,935.60.
• On Tuesday, December 16th, Nominees Pty Ltd Atf Narrogal purchased 86,022 shares of Prairie Operating stock. The shares were purchased at an average price of $1.68 per share, with a total value of $144,516.96.
• On Monday, December 15th, Nominees Pty Ltd Atf Narrogal purchased 850,000 shares of Prairie Operating stock. The stock was acquired at an average cost of $1.69 per share, for a total transaction of $1,436,500.00.
• On Friday, December 12th, Nominees Pty Ltd Atf Narrogal bought 270,431 shares of Prairie Operating stock. The stock was purchased at an average cost of $1.71 per share, for a total transaction of $462,437.01.
• On Wednesday, December 10th, Nominees Pty Ltd Atf Narrogal bought 42,781 shares of Prairie Operating stock. The stock was purchased at an average cost of $1.71 per share, with a total value of $73,155.51.
• On Tuesday, December 9th, Nominees Pty Ltd Atf Narrogal purchased 200 shares of Prairie Operating stock. The shares were acquired at an average cost of $1.71 per share, for a total transaction of $342.00.
• On Thursday, November 20th, Nominees Pty Ltd Atf Narrogal acquired 50,000 shares of Prairie Operating stock. The stock was acquired at an average price of $1.72 per share, with a total value of $86,000.00.
• On Monday, November 24th, Nominees Pty Ltd Atf Narrogal bought 3,831 shares of Prairie Operating stock. The shares were acquired at an average price of $1.70 per share, for a total transaction of $6,512.70.
• On Friday, November 21st, Nominees Pty Ltd Atf Narrogal acquired 236,977 shares of Prairie Operating stock. The shares were bought at an average cost of $1.69 per share, for a total transaction of $400,491.13.
• On Thursday, November 20th, Nominees Pty Ltd Atf Narrogal bought 800,000 shares of Prairie Operating stock. The shares were bought at an average cost of $1.71 per share, with a total value of $1,368,000.00.

Prairie Operating Stock Down 0.6%

Shares of PROP traded down $0.01 during midday trading on Thursday, hitting $1.68. The company had a trading volume of 818,900 shares, compared to its average volume of 1,128,639. Prairie Operating Co. has a 1 year low of $1.64 and a 1 year high of $10.58. The firm has a market capitalization of $100.21 million, a P/E ratio of -0.52 and a beta of 2.16. The company has a debt-to-equity ratio of 4.11, a quick ratio of 0.80 and a current ratio of 0.83. The company’s 50-day simple moving average is $1.81 and its 200-day simple moving average is $2.58.

Institutional Investors Weigh In On Prairie Operating

A number of hedge funds and other institutional investors have recently bought and sold shares of PROP. Bank of America Corp DE grew 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 during the period. State of Wyoming purchased a new stake in Prairie Operating during the second quarter worth about $32,000. XTX Topco Ltd purchased a new stake in Prairie Operating during the second quarter worth about $32,000. JPMorgan Chase & Co. grew its position in Prairie Operating by 411.4% during the second quarter. JPMorgan Chase & Co. now owns 10,740 shares of the company’s stock worth $32,000 after buying an additional 8,640 shares during the period. Finally, SageView Advisory Group LLC purchased a new position in Prairie Operating in the first quarter valued at about $59,000. Institutional investors and hedge funds own 34.28% of the company’s stock.

Analyst Ratings Changes

PROP has been the subject of several analyst reports. Piper Sandler lowered their price target on shares of Prairie Operating to $2.00 and set a “neutral” rating for the company in a report on Tuesday, October 21st. Weiss Ratings reiterated a “sell (d)” rating on shares of Prairie Operating in a research note on Monday. Three equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Prairie Operating currently has a consensus rating of “Hold” and a consensus target price of $6.75.

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.