Prairie Operating (NASDAQ:PROP) Announces Earnings Results, Misses Expectations By $0.44 EPS

Prairie Operating (NASDAQ:PROP) announced its earnings results on Thursday. The company reported ($0.28) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.16 by ($0.44), FiscalAI reports. Prairie Operating had a negative net margin of 13.02% and a positive return on equity of 46.53%. The company had revenue of $129.50 million for the quarter.

Prairie Operating Price Performance

PROP traded down $0.01 during midday trading on Friday, hitting $0.36. The stock had a trading volume of 1,490,595 shares, compared to its average volume of 2,594,522. Prairie Operating has a 1 year low of $0.30 and a 1 year high of $2.55. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.23 and a current ratio of 0.25. The business has a fifty day moving average of $0.40 and a 200 day moving average of $0.99. The company has a market cap of $40.72 million, a P/E ratio of -0.18 and a beta of 1.15.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. SL Advisors LLC bought a new stake in shares of Prairie Operating during the 3rd quarter valued at about $993,000. BlackRock Inc. bought a new position in Prairie Operating in the second quarter worth about $635,000. Corient Private Wealth LP purchased a new stake in Prairie Operating in the second quarter worth about $313,000. Retirement Planning Group LLC lifted its holdings in Prairie Operating by 772.1% in the first quarter. Retirement Planning Group LLC now owns 147,763 shares of the company’s stock worth $300,000 after buying an additional 130,819 shares during the period. Finally, Bank of America Corp DE boosted its position in Prairie Operating by 526.3% during the 1st quarter. Bank of America Corp DE now owns 135,897 shares of the company’s stock valued at $276,000 after acquiring an additional 114,199 shares in the last quarter. 34.28% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have recently commented on PROP. Weiss Ratings raised shares of Prairie Operating from a “sell (e)” rating to a “sell (e+)” rating in a report on Thursday, September 10th. Roth Capital reaffirmed a “buy” rating and set a $2.00 price objective on shares of Prairie Operating in a report on Monday, August 17th. Finally, Wall Street Zen upgraded shares of Prairie Operating from a “sell” rating to a “hold” rating in a research report on Saturday, August 22nd. One analyst has rated the stock with a Buy rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Reduce” and a consensus price target of $2.75.

About Prairie Operating

Prairie Operating Co. is a Houston-based publicly traded independent energy company engaged in the development and acquisition of oil, natural gas, and natural gas liquid resources in the United States. The Company’s assets and operations are concentrated in the oil and liquids-rich regions of the Denver-Julesburg (DJ) Basin, with a primary focus on the Niobrara and Codell formations. The Company is committed to the responsible development of its oil natural gas, and natural gas liquid resources and is focused on maximizing returns through consistent growth, capital discipline, and sustainable cash flow generation.