Key Points
- Director Richard Frommer purchased 28,000 Prairie Operating shares at $0.45 each, investing $12,600 and increasing his direct stake by 9.17% to 333,372 shares.
- PROP shares opened at $0.38 and remain near their 52-week low of $0.37, compared with a 52-week high of $2.55; the company has a market capitalization of approximately $42.4 million.
- Analyst sentiment is mixed but leans negative: the stock has an average rating of “Reduce,” with one Buy, one Hold, and two Sell ratings, despite a consensus price target of $2.50.
Prairie Operating Co. (NASDAQ:PROP - Get Free Report) Director Richard Frommer bought 28,000 shares of Prairie Operating stock in a transaction dated Thursday, September 3rd. The shares were acquired at an average cost of $0.45 per share, for a total transaction of $12,600.00. Following the completion of the purchase, the director directly owned 333,372 shares of the company's stock, valued at approximately $150,017.40. This trade represents a 9.17% increase in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.
Prairie Operating Stock Performance
Shares of PROP stock opened at $0.38 on Friday. The stock has a fifty day moving average of $0.56 and a 200 day moving average of $0.92. Prairie Operating Co. has a 52 week low of $0.37 and a 52 week high of $2.55. The firm has a market capitalization of $42.40 million, a price-to-earnings ratio of -0.18 and a beta of 1.23. 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 (NASDAQ:PROP - Get Free Report) last released its quarterly earnings results on Friday, August 14th. The company reported $0.23 earnings per share for the quarter, beating the consensus estimate of $0.02 by $0.21. The business had revenue of $98.86 million for the quarter. Prairie Operating had a negative net margin of 13.02% and a positive return on equity of 46.53%. As a group, research analysts expect that Prairie Operating Co. will post 0.51 earnings per share for the current year.
Hedge Funds Weigh In On Prairie Operating
Institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. purchased a new position in Prairie Operating during the second quarter valued at $635,000. Corient Private Wealth LP purchased a new stake in shares of Prairie Operating in the 2nd quarter worth about $313,000. Fore Capital LLC purchased a new stake in shares of Prairie Operating in the 2nd quarter worth about $227,000. GSA Capital Partners LLP bought a new position in shares of Prairie Operating in the 2nd quarter worth about $191,000. Finally, Wellington Management Group LLP bought a new position in shares of Prairie Operating during the second quarter valued at approximately $179,000. Institutional investors own 34.28% of the company's stock.
Wall Street Analyst Weigh In
PROP has been the topic of a number of research reports. Zacks Research lowered shares of Prairie Operating from a "hold" rating to a "strong sell" rating in a research note on Wednesday, July 15th. 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. Wall Street Zen upgraded shares of Prairie Operating from a "sell" rating to a "hold" rating in a report on Saturday, August 22nd. Finally, Roth Capital reaffirmed a "buy" rating and set a $2.00 price objective on shares of Prairie Operating in a research report on Monday, August 17th. One investment analyst has rated the stock with a Buy rating, one has issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Reduce" and a consensus price target of $2.50.
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