Richard Frommer Acquires 75,500 Shares of Prairie Operating (NASDAQ:PROP) Stock

Prairie Operating Co. (NASDAQ:PROP) Director Richard Frommer acquired 75,500 shares of the firm’s stock in a transaction on Tuesday, May 19th. The shares were bought at an average cost of $0.87 per share, for a total transaction of $65,685.00. Following the completion of the acquisition, the director directly owned 205,372 shares of the company’s stock, valued at approximately $178,673.64. This represents a 58.13% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Prairie Operating Price Performance

NASDAQ PROP traded down $0.04 during trading on Wednesday, reaching $0.83. 2,771,357 shares of the company traded hands, compared to its average volume of 3,646,471. 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 stock’s 50 day moving average price is $1.51 and its two-hundred day moving average price is $1.69. The company has a market cap of $63.84 million, a price-to-earnings ratio of -0.40 and a beta of 1.33. Prairie Operating Co. has a 1-year low of $0.77 and a 1-year high of $4.33.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Woodline Partners LP acquired a new position in Prairie Operating during the 1st quarter worth $3,678,000. Geode Capital Management LLC lifted its holdings in Prairie Operating by 76.2% during the 2nd quarter. Geode Capital Management LLC now owns 661,390 shares of the company’s stock worth $1,981,000 after buying an additional 285,934 shares in the last quarter. Cetera Investment Advisers lifted its holdings in Prairie Operating by 90.5% during the 2nd quarter. Cetera Investment Advisers now owns 19,745 shares of the company’s stock worth $59,000 after buying an additional 9,379 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in Prairie Operating by 411.4% during the 2nd quarter. JPMorgan Chase & Co. now owns 10,740 shares of the company’s stock worth $32,000 after buying an additional 8,640 shares in the last quarter. Finally, American Century Companies Inc. acquired a new position in Prairie Operating during the 2nd quarter worth $46,000. 34.28% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. Zacks Research downgraded Prairie Operating from a “hold” rating to a “strong sell” rating in a report on Thursday, March 5th. Wall Street Zen downgraded Prairie Operating from a “hold” rating to a “sell” rating in a report on Saturday. Finally, William Blair set a $3.50 target price on Prairie Operating in a report on Tuesday, March 3rd. Two investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $5.38.

Prairie Operating Company Profile