Prairie Operating Sees Unusually Large Options Volume (NASDAQ:PROP)

Prairie Operating Co. (NASDAQ:PROP) was the recipient of unusually large options trading on Thursday. Traders acquired 8,313 call options on the stock. This represents an increase of 344% compared to the typical daily volume of 1,871 call options.

Prairie Operating Stock Down 2.0%

Shares of NASDAQ:PROP traded down $0.04 during mid-day trading on Friday, reaching $2.00. 4,342,927 shares of the stock were exchanged, compared to its average volume of 4,423,122. The stock’s 50 day simple moving average is $1.79 and its 200-day simple moving average is $1.83. Prairie Operating has a one year low of $1.31 and a one year high of $5.99. The company has a market cap of $119.30 million, a P/E ratio of -0.62 and a beta of 2.44. The company has a quick ratio of 0.80, a current ratio of 0.83 and a debt-to-equity ratio of 4.11.

Insider Transactions at Prairie Operating

In other Prairie Operating news, major shareholder Nominees Pty Ltd Atf Narrogal bought 210,981 shares of the firm’s stock in a transaction on Monday, December 29th. The stock was purchased at an average cost of $1.61 per share, with a total value of $339,679.41. Following the completion of the purchase, the insider owned 15,481,603 shares in the company, valued at approximately $24,925,380.83. The trade was a 1.38% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 15.44% of the company’s stock.

Institutional Investors Weigh In On Prairie Operating

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Engineers Gate Manager LP bought a new position in shares of Prairie Operating in the 4th quarter valued at about $25,000. ELCO Management Co. LLC bought a new stake in Prairie Operating during the third quarter worth about $26,000. Retirement Planning Group LLC acquired a new position in Prairie Operating during the fourth quarter valued at approximately $29,000. Bank of America Corp DE boosted its position in 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 purchasing an additional 6,582 shares during the last quarter. Finally, Warther Private Wealth LLC bought a new position in Prairie Operating in the third quarter valued at approximately $31,000. 34.28% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on PROP. Zacks Research lowered Prairie Operating from a “hold” rating to a “strong sell” rating in a research report on Thursday, March 5th. Weiss Ratings restated a “sell (d)” rating on shares of Prairie Operating in a report on Monday, December 29th. Finally, William Blair set a $3.50 price target on shares of Prairie Operating in a research note on Tuesday, March 3rd. Three investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $6.10.

About Prairie Operating

Prairie Operating (NASDAQ: PROP) is a publicly traded independent exploration and production company focused on the acquisition, development and operation of onshore oil and natural gas properties in the United States. The firm seeks to identify and capitalize on undervalued or overlooked assets, applying a disciplined approach to drilling, completion and production optimization. By concentrating on core resource plays, Prairie Operating aims to deliver steady production growth and free cash flow.

The company’s asset base is concentrated in the Permian Basin region of West Texas and southeastern New Mexico, where it holds working interests in both conventional and unconventional reservoirs.