Lazard Asset Management LLC Sells 804,684 Shares of Prairie Operating Co. $PROP

Lazard Asset Management LLC cut its holdings in Prairie Operating Co. (NASDAQ:PROP) by 83.5% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 158,707 shares of the company’s stock after selling 804,684 shares during the quarter. Lazard Asset Management LLC owned about 0.21% of Prairie Operating worth $322,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the business. State of Wyoming acquired a new position in Prairie Operating during the second quarter worth $32,000. JPMorgan Chase & Co. grew its holdings in shares of Prairie Operating by 411.4% during the 2nd quarter. JPMorgan Chase & Co. now owns 10,740 shares of the company’s stock worth $32,000 after purchasing an additional 8,640 shares in the last quarter. Warther Private Wealth LLC bought a new position in Prairie Operating during the third quarter worth about $31,000. Bank of America Corp DE increased its position in shares of Prairie Operating by 203.8% during the 2nd quarter. Bank of America Corp DE now owns 9,812 shares of the company’s stock worth $29,000 after purchasing an additional 6,582 shares in the last quarter. Finally, Engineers Gate Manager LP bought a new stake in shares of Prairie Operating during the fourth quarter worth $25,000. 34.28% of the stock is owned by institutional investors.

Insider Transactions at Prairie Operating

In other Prairie Operating news, Director Richard N. Frommer bought 75,500 shares of Prairie Operating stock in a transaction dated Tuesday, May 19th. The stock was bought at an average cost of $0.87 per share, with a total value of $65,685.00. Following the completion of the acquisition, the director directly owned 205,372 shares in the company, valued at approximately $178,673.64. The trade was a 58.13% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 3.09% of the stock is owned by corporate insiders.

Prairie Operating Stock Performance

Shares of PROP opened at $0.80 on Friday. The stock has a market capitalization of $61.20 million, a P/E ratio of -0.38 and a beta of 1.25. Prairie Operating Co. has a 12 month low of $0.58 and a 12 month high of $3.75. The firm’s fifty day simple moving average is $0.75 and its two-hundred day simple moving average is $1.28. The company has a current ratio of 0.24, a quick ratio of 0.23 and a debt-to-equity ratio of 909.21.

Analyst Ratings Changes

Several equities research analysts have commented on PROP shares. Zacks Research downgraded shares of Prairie Operating from a “hold” rating to a “strong sell” rating in a research note on Wednesday, July 15th. Weiss Ratings upgraded shares of Prairie Operating from a “sell (e-)” rating to a “sell (e)” rating in a research note on Monday, June 1st. Finally, Wall Street Zen cut shares of Prairie Operating from a “hold” rating to a “sell” rating in a research note on Saturday, July 18th. One equities 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.com, Prairie Operating presently has an average rating of “Sell” and a consensus target price of $2.75.

Prairie Operating Company Profile