Weiss Ratings Reiterates Sell (D+) Rating for Prairie Operating (NASDAQ:PROP)

Prairie Operating (NASDAQ:PROP)‘s stock had its “sell (d+)” rating reissued by investment analysts at Weiss Ratings in a note issued to investors on Tuesday,Weiss Ratings reports.

A number of other equities research analysts also recently weighed in on the company. Wall Street Zen upgraded Prairie Operating from a “sell” rating to a “hold” rating in a research report on Saturday, August 16th. KeyCorp initiated coverage on Prairie Operating in a research report on Thursday, July 3rd. They issued a “sector weight” rating for the company. Finally, Piper Sandler downgraded Prairie Operating from an “overweight” rating to a “neutral” rating in a research report on Monday, August 18th. Three investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $8.50.

Prairie Operating Stock Performance

Shares of PROP stock opened at $1.77 on Tuesday. Prairie Operating has a 12-month low of $1.77 and a 12-month high of $10.58. The firm has a market capitalization of $89.00 million, a price-to-earnings ratio of -0.59 and a beta of 2.12. The business has a 50 day simple moving average of $2.26 and a 200 day simple moving average of $3.33. The company has a debt-to-equity ratio of 4.13, a current ratio of 0.60 and a quick ratio of 0.58.

Prairie Operating (NASDAQ:PROP) last issued its quarterly earnings data on Tuesday, August 12th. The company reported $0.18 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.28 by ($1.10). The company had revenue of $68.10 million during the quarter, compared to analyst estimates of $125.50 million. On average, equities research analysts anticipate that Prairie Operating will post -2.13 EPS for the current year.

Insider Activity at Prairie Operating

In related news, Director Jonathan H. Gray acquired 89,000 shares of the business’s stock in a transaction dated Friday, September 5th. The stock was bought at an average price of $2.11 per share, for a total transaction of $187,790.00. Following the transaction, the director owned 675,817 shares of the company’s stock, valued at approximately $1,425,973.87. The trade was a 15.17% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In the last three months, insiders acquired 442,480 shares of company stock worth $937,103. 15.44% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Prairie Operating

A number of institutional investors and hedge funds have recently modified their holdings of the stock. FOCUS Wealth Advisors LLC acquired a new stake in shares of Prairie Operating during the 3rd quarter valued at $278,000. State of Wyoming purchased a new position in shares of Prairie Operating during the second quarter valued at $32,000. Nomura Holdings Inc. purchased a new position in shares of Prairie Operating during the second quarter valued at $57,000. Bank of America Corp DE grew its holdings in shares of Prairie Operating by 203.8% during the second quarter. Bank of America Corp DE now owns 9,812 shares of the company’s stock valued at $29,000 after buying an additional 6,582 shares in the last quarter. Finally, Raymond James Financial Inc. purchased a new position in shares of Prairie Operating during the second quarter valued at $313,000. Institutional investors and hedge funds own 34.28% of the company’s stock.

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.