Prairie Operating (NASDAQ:PROP) Downgraded by Zacks Research to “Strong Sell”

Prairie Operating (NASDAQ:PROP) was downgraded by Zacks Research from a “hold” rating to a “strong sell” rating in a research note issued on Wednesday,Zacks.com reports.

A number of other research firms also recently weighed in on PROP. Weiss Ratings raised Prairie Operating from a “sell (e-)” rating to a “sell (e)” rating in a report on Monday, June 1st. Wall Street Zen upgraded shares of Prairie Operating from a “sell” rating to a “hold” rating in a research note on Sunday, May 24th. One equities research analyst has rated the stock with a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, Prairie Operating has a consensus rating of “Sell” and an average target price of $2.75.

Prairie Operating Stock Performance

Shares of NASDAQ PROP opened at $0.72 on Wednesday. The company has a debt-to-equity ratio of 909.21, a current ratio of 0.24 and a quick ratio of 0.23. The stock’s fifty day moving average price is $0.81 and its two-hundred day moving average price is $1.39. Prairie Operating has a one year low of $0.58 and a one year high of $4.33. The firm has a market cap of $54.94 million, a price-to-earnings ratio of -0.34 and a beta of 1.25.

Insider Transactions at Prairie Operating

In related news, Director Richard N. Frommer acquired 75,500 shares of the stock in a transaction on Tuesday, May 19th. The shares were purchased at an average price of $0.87 per share, for a total transaction of $65,685.00. Following the purchase, the director directly owned 205,372 shares in the company, valued at approximately $178,673.64. The trade was a 58.13% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. 3.09% of the stock is owned by corporate insiders.

Institutional Trading of Prairie Operating

Institutional investors have recently modified their holdings of the stock. Bank of America Corp DE grew its holdings 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 in the last quarter. Vanguard Group Inc. raised its stake in Prairie Operating by 0.6% in the third quarter. Vanguard Group Inc. now owns 1,276,221 shares of the company’s stock valued at $2,533,000 after purchasing an additional 7,042 shares in the last quarter. Squarepoint Ops LLC raised its stake in Prairie Operating by 9.3% in the third quarter. Squarepoint Ops LLC now owns 100,607 shares of the company’s stock valued at $200,000 after purchasing an additional 8,572 shares in the last quarter. JPMorgan Chase & Co. lifted 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 purchasing an additional 8,640 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Prairie Operating by 363.9% during the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 11,779 shares of the company’s stock worth $35,000 after purchasing an additional 9,240 shares during the period. 34.28% of the stock is currently owned by institutional investors.

About Prairie Operating