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

Prairie Operating Co. (NASDAQ:PROP) saw a significant decrease in short interest in 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 company’s stock are short sold. Based on an average daily volume of 1,594,053 shares, the short-interest ratio is currently 5.1 days.

Prairie Operating Stock Up 4.5%

Shares of NASDAQ PROP traded up $0.02 during mid-day trading on Friday, reaching $0.56. The company had a trading volume of 1,401,555 shares, compared to its average volume of 2,624,906. Prairie Operating has a twelve month low of $0.51 and a twelve month high of $2.61. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.23 and a current ratio of 0.25. The stock has a market capitalization of $63.00 million, a PE ratio of 1.40 and a beta of 1.25. The stock’s 50 day moving average is $0.72 and its 200-day moving average is $1.15.

Prairie Operating (NASDAQ:PROP) last released its quarterly earnings data on Friday, August 14th. The company reported $0.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.02 by $0.21. Prairie Operating had a positive return on equity of 46.53% and a negative net margin of 13.02%.The firm had revenue of $98.86 million during the quarter. As a group, equities analysts anticipate that Prairie Operating will post 0.51 earnings per share for the current fiscal year.

Analysts Set New Price Targets

PROP has been the topic of a number of research analyst reports. Weiss Ratings upgraded Prairie Operating from a “sell (e-)” rating to a “sell (e)” rating in a report on Monday, June 1st. Roth Capital restated a “buy” rating and set a $2.00 price objective on shares of Prairie Operating in a research report on Monday, August 17th. Zacks Research cut Prairie Operating from a “hold” rating to a “strong sell” rating in a research note on Wednesday, July 15th. Finally, Wall Street Zen upgraded Prairie Operating from a “sell” rating to a “hold” rating in a report on Saturday, August 22nd. One analyst has rated the stock with a Buy rating, one has given a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Reduce” and a consensus target price of $2.50.

Institutional Investors Weigh In On Prairie Operating

Several institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. increased its holdings in Prairie Operating by 0.6% in the third quarter. Vanguard Group Inc. now owns 1,276,221 shares of the company’s stock worth $2,533,000 after buying an additional 7,042 shares during the last quarter. Lazard Asset Management LLC bought a new stake in Prairie Operating in the fourth quarter worth approximately $1,628,000. BlackRock Inc. acquired a new position in shares of Prairie Operating during the 2nd quarter worth $635,000. Geode Capital Management LLC raised its holdings in shares of Prairie Operating by 17.1% during the 4th quarter. Geode Capital Management LLC now owns 778,434 shares of the company’s stock valued at $1,316,000 after purchasing an additional 113,720 shares in the last quarter. Finally, Woodline Partners LP bought a new position in shares of Prairie Operating during the 1st quarter valued at $3,678,000. 34.28% of the stock is currently owned by institutional investors and hedge funds.

About Prairie Operating