Zacks Research Downgrades Prairie Operating (NASDAQ:PROP) to Strong Sell

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

A number of other equities analysts also recently issued reports on PROP. Weiss Ratings upgraded 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 report on Sunday, May 24th. One investment analyst has rated the stock with a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, Prairie Operating has an average rating of “Sell” and an average price target of $2.75.

Prairie Operating Trading Up 2.5%

PROP opened at $0.72 on Wednesday. The stock has a market cap of $54.94 million, a PE ratio of -0.34 and a beta of 1.25. The company has a quick ratio of 0.23, a current ratio of 0.24 and a debt-to-equity ratio of 909.21. The business has a 50 day moving average of $0.81 and a 200-day moving average of $1.39. Prairie Operating has a 52 week low of $0.58 and a 52 week high of $4.33.

Insider Buying and Selling at Prairie Operating

In other Prairie Operating news, Director Richard N. Frommer bought 75,500 shares of the stock in a transaction dated Tuesday, May 19th. The stock was purchased at an average cost of $0.87 per share, for a total transaction of $65,685.00. Following the completion of the acquisition, the director owned 205,372 shares of the company’s stock, valued at approximately $178,673.64. This trade represents a 58.13% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 3.09% of the company’s stock.

Institutional Trading of Prairie Operating

A number of hedge funds have recently made changes to their positions in PROP. Woodline Partners LP purchased a new stake in shares of Prairie Operating in the 1st quarter worth approximately $3,678,000. Geode Capital Management LLC raised its stake in Prairie Operating by 76.2% during the second quarter. Geode Capital Management LLC now owns 661,390 shares of the company’s stock valued at $1,981,000 after buying an additional 285,934 shares during the last quarter. Cetera Investment Advisers boosted its holdings in Prairie Operating by 90.5% in the second quarter. Cetera Investment Advisers now owns 19,745 shares of the company’s stock worth $59,000 after acquiring an additional 9,379 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in Prairie Operating by 411.4% in the second quarter. JPMorgan Chase & Co. now owns 10,740 shares of the company’s stock worth $32,000 after acquiring an additional 8,640 shares in the last quarter. Finally, American Century Companies Inc. purchased a new stake in shares of Prairie Operating in the second quarter worth $46,000. 34.28% of the stock is owned by institutional investors.

Prairie Operating Company Profile