Prairie Operating Co. (NASDAQ:PROP) Short Interest Update

Prairie Operating Co. (NASDAQ:PROP) was the recipient of a large increase in short interest in August. As of August 31st, there was short interest totaling 13,161,792 shares, an increase of 61.6% from the August 15th total of 8,146,378 shares. Based on an average daily volume of 3,448,081 shares, the short-interest ratio is presently 3.8 days. Currently, 12.0% of the shares of the company are short sold.

Institutional Trading of Prairie Operating

A number of institutional investors have recently added to or reduced their stakes in PROP. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of Prairie Operating by 330.8% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 53,880 shares of the company’s stock worth $39,000 after buying an additional 41,374 shares in the last quarter. FNY Investment Advisers LLC boosted its holdings in Prairie Operating by 89.5% in the 2nd quarter. FNY Investment Advisers LLC now owns 90,000 shares of the company’s stock valued at $64,000 after purchasing an additional 42,500 shares during the period. Two Sigma Securities LLC purchased a new position in shares of Prairie Operating during the 2nd quarter valued at $77,000. Cibc World Market Inc. bought a new position in shares of Prairie Operating in the second quarter worth $82,000. Finally, Caitong International Asset Management Co. Ltd raised its position in shares of Prairie Operating by 315.6% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 49,376 shares of the company’s stock worth $83,000 after buying an additional 37,494 shares in the last quarter. Hedge funds and other institutional investors own 34.28% of the company’s stock.

Analyst Upgrades and Downgrades

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

Prairie Operating Stock Up 1.5%

PROP stock traded up $0.01 during midday trading on Thursday, reaching $0.40. 697,154 shares of the company’s stock traded hands, compared to its average volume of 2,948,714. The company has a market cap of $45.26 million, a price-to-earnings ratio of -0.20 and a beta of 1.25. The firm’s fifty day moving average price is $0.65 and its 200-day moving average price is $1.03. The company has a quick ratio of 0.23, a current ratio of 0.25 and a debt-to-equity ratio of 1.96. Prairie Operating has a 52 week low of $0.38 and a 52 week high of $2.55.

Prairie Operating (NASDAQ:PROP) last released its quarterly earnings results on Friday, August 14th. The company reported $0.23 earnings per share for the quarter, beating analysts’ consensus estimates of $0.02 by $0.21. Prairie Operating had a negative net margin of 13.02% and a positive return on equity of 46.53%. The company had revenue of $98.86 million for the quarter. As a group, sell-side analysts forecast that Prairie Operating will post 0.51 earnings per share for the current fiscal year.

About Prairie Operating