Prairie Operating (NASDAQ:PROP) Upgraded by Zacks Research to Hold Rating

Zacks Research upgraded shares of Prairie Operating (NASDAQ:PROP) from a strong sell rating to a hold rating in a report issued on Monday morning,Zacks.com reports.

A number of other analysts also recently weighed in on PROP. William Blair set a $3.50 price target on shares of Prairie Operating in a research report on Tuesday, March 3rd. Wall Street Zen raised shares of Prairie Operating from a “sell” rating to a “hold” rating in a research report on Sunday, May 24th. Finally, Weiss Ratings raised shares of Prairie Operating from a “sell (e-)” rating to a “sell (e)” rating in a report on Monday, June 1st. Three research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Reduce” and a consensus target price of $2.75.

Prairie Operating Stock Down 9.5%

PROP stock opened at $0.64 on Monday. Prairie Operating has a twelve month low of $0.63 and a twelve month high of $4.33. The company has a current ratio of 0.24, a quick ratio of 0.23 and a debt-to-equity ratio of 909.21. The company has a market capitalization of $49.00 million, a P/E ratio of -0.30 and a beta of 1.23. The firm has a 50 day simple moving average of $1.09 and a 200-day simple moving average of $1.55.

Insider Buying and Selling at Prairie Operating

In related news, Director Richard N. Frommer acquired 75,500 shares of the business’s stock in a transaction that occurred on Tuesday, May 19th. The shares were acquired at an average cost of $0.87 per share, for a total transaction of $65,685.00. Following the completion of the purchase, the director directly owned 205,372 shares in the company, valued at $178,673.64. This trade represents a 58.13% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 3.09% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Prairie Operating

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Bank of America Corp DE raised its stake in shares of Prairie Operating by 526.3% during the first quarter. Bank of America Corp DE now owns 135,897 shares of the company’s stock valued at $276,000 after purchasing an additional 114,199 shares in the last quarter. Cetera Investment Advisers raised its stake in shares of Prairie Operating by 300.2% during the first quarter. Cetera Investment Advisers now owns 81,031 shares of the company’s stock valued at $164,000 after purchasing an additional 60,785 shares in the last quarter. Retirement Planning Group LLC raised its stake in shares of Prairie Operating by 772.1% during the first quarter. Retirement Planning Group LLC now owns 147,763 shares of the company’s stock valued at $300,000 after purchasing an additional 130,819 shares in the last quarter. Patriot Financial Group Insurance Agency LLC bought a new stake in shares of Prairie Operating during the first quarter valued at about $102,000. Finally, Caitong International Asset Management Co. Ltd raised its stake in shares of Prairie Operating by 878.2% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 116,227 shares of the company’s stock valued at $196,000 after purchasing an additional 104,345 shares in the last quarter. 34.28% of the stock is currently owned by institutional investors.

About Prairie Operating