Prairie Operating (NASDAQ:PROP) Announces Earnings Results, Beats Expectations By $0.21 EPS

Prairie Operating (NASDAQ:PROP) released its quarterly earnings data on Friday. The company reported $0.23 EPS for the quarter, beating the consensus estimate of $0.02 by $0.21, FiscalAI reports. The business had revenue of $98.86 million for the quarter. Prairie Operating had a negative net margin of 37.79% and a positive return on equity of 89.35%.

Prairie Operating Price Performance

Shares of PROP stock traded up $0.16 during mid-day trading on Friday, hitting $1.00. 3,201,883 shares of the stock were exchanged, compared to its average volume of 1,302,538. Prairie Operating has a 52-week low of $0.58 and a 52-week high of $2.83. 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 company has a market cap of $76.57 million, a PE ratio of 1.83 and a beta of 1.25. The firm has a fifty day moving average of $0.75 and a 200 day moving average of $1.24.

Wall Street Analysts Forecast Growth

Several research firms have commented on PROP. Weiss Ratings raised shares of Prairie Operating from a “sell (e-)” rating to a “sell (e)” rating in a report on Monday, June 1st. Zacks Research cut Prairie Operating from a “hold” rating to a “strong sell” rating in a report on Wednesday, July 15th. Finally, Wall Street Zen downgraded Prairie Operating from a “hold” rating to a “sell” rating in a research note on Saturday, July 18th. One research analyst has rated the stock with a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Sell” and an average target price of $2.75.

Insider Buying and Selling at Prairie Operating

In other Prairie Operating news, Director Richard N. Frommer purchased 75,500 shares of the business’s stock in a transaction that occurred on Tuesday, May 19th. The stock was 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. This trade represents a 58.13% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 3.09% of the stock is currently owned by corporate insiders.

Institutional Trading of Prairie Operating

Several institutional investors have recently bought and sold shares of PROP. Lazard Asset Management LLC acquired a new position in shares of Prairie Operating during the 4th quarter worth approximately $1,628,000. BlackRock Inc. purchased a new stake in Prairie Operating in the 2nd quarter worth $635,000. Woodline Partners LP acquired a new position in Prairie Operating during the first quarter worth $3,678,000. Fore Capital LLC acquired a new position in Prairie Operating during the second quarter worth $227,000. Finally, Marshall Wace LLP purchased a new position in Prairie Operating during the second quarter valued at $860,000. 34.28% of the stock is owned by institutional investors and hedge funds.

About Prairie Operating