Short Interest in Prairie Operating Co. (NASDAQ:PROP) Decreases By 50.5%

Prairie Operating Co. (NASDAQ:PROP) saw a large decrease in short interest in the month of August. As of August 14th, there was short interest totaling 8,146,378 shares, a decrease of 50.5% from the July 30th total of 16,467,433 shares. Approximately 7.5% of the shares of the company are sold short. Based on an average daily volume of 1,594,053 shares, the days-to-cover ratio is presently 5.1 days.

Institutional Investors Weigh In On Prairie Operating

Several hedge funds have recently bought and sold shares of PROP. Engineers Gate Manager LP bought a new stake in shares of Prairie Operating during the fourth quarter worth approximately $25,000. Retirement Planning Group LLC bought a new position in shares of Prairie Operating during the fourth quarter worth approximately $29,000. Bank of America Corp DE increased its stake 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 worth $29,000 after purchasing an additional 6,582 shares during the period. Warther Private Wealth LLC acquired a new stake in Prairie Operating during the 3rd quarter worth approximately $31,000. Finally, JPMorgan Chase & Co. lifted its holdings in 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 during the last quarter. 34.28% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

PROP has been the subject of a number of research analyst reports. Wall Street Zen upgraded Prairie Operating from a “sell” rating to a “hold” rating in a report on Saturday, August 22nd. Roth Capital restated a “buy” rating and issued a $2.00 price objective on shares of Prairie Operating in a research note on Monday, August 17th. Zacks Research cut Prairie Operating from a “hold” rating to a “strong sell” rating in a research report on Wednesday, July 15th. Finally, Weiss Ratings reiterated a “sell (e)” rating on shares of Prairie Operating in a research note on Thursday. One analyst has rated the stock with a Buy rating, one has assigned a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, Prairie Operating has a consensus rating of “Reduce” and a consensus price target of $2.50.

Prairie Operating Stock Performance

Shares of NASDAQ:PROP traded down $0.05 on Monday, hitting $0.51. The company had a trading volume of 1,548,195 shares, compared to its average volume of 3,052,476. The stock has a market cap of $57.27 million, a price-to-earnings ratio of -0.25 and a beta of 1.25. The stock has a 50 day moving average price of $0.72 and a 200 day moving average price of $1.15. Prairie Operating has a 1-year low of $0.50 and a 1-year high of $2.61. The company has a current ratio of 0.25, a quick ratio of 0.23 and a debt-to-equity ratio of 1.96.

Prairie Operating (NASDAQ:PROP) last posted its earnings results on Friday, August 14th. The company reported $0.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.02 by $0.21. The company had revenue of $98.86 million during the quarter. Prairie Operating had a negative net margin of 13.02% and a positive return on equity of 46.53%. Analysts expect that Prairie Operating will post 0.51 EPS for the current year.

Prairie Operating Company Profile