Piper Sandler Lowers Prairie Operating (NASDAQ:PROP) Price Target to $10.00

Prairie Operating (NASDAQ:PROP) had its target price reduced by Piper Sandler from $11.00 to $10.00 in a research report released on Tuesday,Benzinga reports. They currently have an overweight rating on the stock.

Separately, Johnson Rice started coverage on shares of Prairie Operating in a report on Monday. They set an “accumulate” rating and a $9.00 price target for the company.

Prairie Operating Price Performance

Prairie Operating stock opened at $4.39 on Tuesday. Prairie Operating has a 12 month low of $3.35 and a 12 month high of $13.91. The company has a market cap of $117.91 million, a PE ratio of -1.46 and a beta of 3.13. The company has a fifty day moving average price of $4.80 and a two-hundred day moving average price of $6.86.

Institutional Investors Weigh In On Prairie Operating

Hedge funds and other institutional investors have recently modified their holdings of the stock. Wells Fargo & Company MN raised its stake in shares of Prairie Operating by 128.0% during the fourth quarter. Wells Fargo & Company MN now owns 4,376 shares of the company’s stock valued at $30,000 after purchasing an additional 2,457 shares in the last quarter. Barclays PLC raised its stake in shares of Prairie Operating by 321.7% during the third quarter. Barclays PLC now owns 5,996 shares of the company’s stock valued at $52,000 after purchasing an additional 4,574 shares in the last quarter. JPMorgan Chase & Co. raised its stake in shares of Prairie Operating by 163.4% during the third quarter. JPMorgan Chase & Co. now owns 6,966 shares of the company’s stock valued at $61,000 after purchasing an additional 4,321 shares in the last quarter. FNY Investment Advisers LLC bought a new stake in shares of Prairie Operating during the first quarter valued at about $42,000. Finally, Navigation Wealth Management Inc. bought a new stake in shares of Prairie Operating during the fourth quarter valued at about $83,000. 34.28% of the stock is currently owned by institutional investors.

About Prairie Operating

Prairie Operating Co, an independent energy company, engages in the development, exploration, and production of oil, natural gas, and natural gas liquids in the United States. The company holds assets in the Denver-Julesburg Basin in Colorado; and the Niobrara and Codell formations. Prairie Operating Co is based in Houston Texas.