Prairie Operating (NASDAQ:PROP) Major Shareholder Nominees Pty Ltd Atf Narrogal Purchases 168,897 Shares

Prairie Operating Co. (NASDAQ:PROP) major shareholder Nominees Pty Ltd Atf Narrogal purchased 168,897 shares of the stock in a transaction dated Monday, November 17th. The shares were purchased at an average price of $1.75 per share, with a total value of $295,569.75. Following the completion of the acquisition, the insider owned 12,407,974 shares of the company’s stock, valued at approximately $21,713,954.50. This represents a 1.38% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Large shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.

Nominees Pty Ltd Atf Narrogal also recently made the following trade(s):

• On Friday, November 21st, Nominees Pty Ltd Atf Narrogal acquired 236,977 shares of Prairie Operating stock. The shares were purchased at an average cost of $1.69 per share, for a total transaction of $400,491.13.
• On Thursday, November 20th, Nominees Pty Ltd Atf Narrogal bought 800,000 shares of Prairie Operating stock. The shares were purchased at an average price of $1.71 per share, for a total transaction of $1,368,000.00.
• On Wednesday, November 19th, Nominees Pty Ltd Atf Narrogal bought 199,271 shares of Prairie Operating stock. The stock was purchased at an average cost of $1.72 per share, with a total value of $342,746.12.
• On Tuesday, November 18th, Nominees Pty Ltd Atf Narrogal purchased 131,814 shares of Prairie Operating stock. The stock was acquired at an average price of $1.75 per share, with a total value of $230,674.50.
• On Friday, November 14th, Nominees Pty Ltd Atf Narrogal acquired 199,463 shares of Prairie Operating stock. The shares were acquired at an average price of $1.73 per share, for a total transaction of $345,070.99.

Prairie Operating Trading Down 2.0%

Shares of NASDAQ:PROP traded down $0.04 during midday trading on Monday, reaching $1.72. The company’s stock had a trading volume of 368,596 shares, compared to its average volume of 1,186,159. The firm has a market cap of $102.30 million, a price-to-earnings ratio of -0.53 and a beta of 2.07. The business has a 50 day moving average price of $1.90 and a 200 day moving average price of $2.86. Prairie Operating Co. has a 1 year low of $1.64 and a 1 year high of $10.58. The company has a quick ratio of 0.80, a current ratio of 0.83 and a debt-to-equity ratio of 4.11.

Hedge Funds Weigh In On Prairie Operating

Hedge funds and other institutional investors have recently modified their holdings of the company. Bank of New York Mellon Corp grew its holdings in shares of Prairie Operating by 30.6% during the 1st quarter. Bank of New York Mellon Corp now owns 14,741 shares of the company’s stock worth $79,000 after purchasing an additional 3,453 shares during the period. Wellington Management Group LLP purchased a new position in Prairie Operating in the first quarter valued at approximately $97,000. Woodline Partners LP acquired a new position in Prairie Operating during the first quarter valued at approximately $3,678,000. SageView Advisory Group LLC purchased a new stake in Prairie Operating during the first quarter worth approximately $59,000. Finally, Hodges Capital Management Inc. purchased a new stake in Prairie Operating during the first quarter worth approximately $2,943,000. 34.28% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. Piper Sandler dropped their price objective on shares of Prairie Operating to $2.00 and set a “neutral” rating for the company in a research note on Tuesday, October 21st. Weiss Ratings restated a “sell (d+)” rating on shares of Prairie Operating in a report on Tuesday, October 14th. Finally, Wall Street Zen raised shares of Prairie Operating from a “sell” rating to a “hold” rating in a research note on Saturday, August 16th. Three research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Prairie Operating currently has a consensus rating of “Hold” and a consensus price target of $6.75.

Prairie Operating Company Profile

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.