Prairie Operating (NASDAQ:PROP) Stock: Insider Richard Frommer Purchases 28,000 Shares

Prairie Operating Co. (NASDAQ:PROP) Director Richard Frommer bought 28,000 shares of the stock in a transaction on Thursday, September 3rd. The shares were bought at an average price of $0.45 per share, for a total transaction of $12,600.00. Following the completion of the transaction, the director directly owned 333,372 shares of the company’s stock, valued at $150,017.40. This trade represents a 9.17% 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

Prairie Operating stock traded down $0.02 during mid-day trading on Friday, reaching $0.38. The company had a trading volume of 911,645 shares, compared to its average volume of 1,035,205. The stock’s 50-day simple moving average is $0.56 and its 200-day simple moving average is $0.92. Prairie Operating Co. has a 1 year low of $0.37 and a 1 year high of $2.55. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.25 and a quick ratio of 0.23. The company has a market capitalization of $42.40 million, a P/E ratio of 0.99 and a beta of 1.23.

Prairie Operating (NASDAQ:PROP) last announced its quarterly earnings results on Friday, August 14th. The company reported $0.23 EPS for the quarter, topping the consensus estimate of $0.02 by $0.21. Prairie Operating had a positive return on equity of 46.53% and a negative net margin of 13.02%.The business had revenue of $98.86 million for the quarter. On average, equities analysts predict that Prairie Operating Co. will post 0.51 EPS for the current year.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on PROP shares. Zacks Research lowered Prairie Operating from a “hold” rating to a “strong sell” rating in a report on Wednesday, July 15th. Roth Capital restated a “buy” rating and set a $2.00 target price on shares of Prairie Operating in a report on Monday, August 17th. Weiss Ratings upgraded shares of Prairie Operating from a “sell (e)” rating to a “sell (e+)” rating in a report on Thursday, September 10th. Finally, Wall Street Zen raised shares of Prairie Operating from a “sell” rating to a “hold” rating in a report on Saturday, August 22nd. One investment analyst has rated the stock with a Buy rating, one has given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Reduce” and a consensus price target of $2.50.

Institutional Trading of Prairie Operating

A number of large investors have recently made changes to their positions in the stock. BlackRock Inc. acquired a new position in Prairie Operating in the 2nd quarter valued at about $635,000. Corient Private Wealth LP acquired a new stake in shares of Prairie Operating during the 2nd quarter worth about $313,000. Fore Capital LLC acquired a new stake in shares of Prairie Operating during the 2nd quarter worth about $227,000. GSA Capital Partners LLP purchased a new stake in shares of Prairie Operating during the second quarter worth about $191,000. Finally, Wellington Management Group LLP purchased a new stake in shares of Prairie Operating during the second quarter worth about $179,000. Institutional investors and hedge funds own 34.28% of the company’s stock.

Prairie Operating Company Profile