Short Interest in Prairie Operating Co. (NASDAQ:PROP) Grows By 25.8%

Prairie Operating Co. (NASDAQ:PROP) was the target of a significant growth in short interest in December. As of December 31st, there was short interest totaling 7,286,996 shares, a growth of 25.8% from the December 15th total of 5,792,203 shares. Currently, 14.4% of the shares of the stock are short sold. Based on an average daily volume of 1,570,411 shares, the short-interest ratio is currently 4.6 days. Based on an average daily volume of 1,570,411 shares, the short-interest ratio is currently 4.6 days. Currently, 14.4% of the shares of the stock are short sold.

Analysts Set New Price Targets

PROP has been the topic of a number of recent research reports. Zacks Research upgraded shares of Prairie Operating to a “hold” rating in a research note on Thursday, January 1st. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Prairie Operating in a research note on Monday, December 29th. Finally, Piper Sandler reduced their target price on shares of Prairie Operating to $2.00 and set a “neutral” rating on the stock in a report on Tuesday, October 21st. Three analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $6.75.

Prairie Operating Stock Down 3.8%

Prairie Operating stock traded down $0.07 during mid-day trading on Monday, hitting $1.78. The company had a trading volume of 1,611,008 shares, compared to its average volume of 1,460,605. The company has a quick ratio of 0.80, a current ratio of 0.83 and a debt-to-equity ratio of 4.11. Prairie Operating has a 1 year low of $1.57 and a 1 year high of $10.58. The business has a fifty day moving average of $1.76 and a 200 day moving average of $2.28. The stock has a market cap of $106.18 million, a price-to-earnings ratio of -0.55 and a beta of 2.27.

Insider Buying and Selling at Prairie Operating

In other Prairie Operating news, major shareholder Nominees Pty Ltd Atf Narrogal bought 850,000 shares of Prairie Operating stock in a transaction dated Monday, December 15th. The stock was acquired at an average cost of $1.69 per share, for a total transaction of $1,436,500.00. Following the completion of the transaction, the insider directly owned 14,993,279 shares of the company’s stock, valued at approximately $25,338,641.51. This represents a 6.01% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In the last three months, insiders have bought 3,441,989 shares of company stock worth $5,853,115. 15.44% of the stock is owned by corporate insiders.

Institutional Trading of Prairie Operating

Several institutional investors and hedge funds have recently bought and sold shares of PROP. ELCO Management Co. LLC purchased a new stake in shares of Prairie Operating in the 3rd quarter worth about $26,000. Bank of America Corp DE grew its holdings in Prairie Operating by 203.8% in 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 period. Warther Private Wealth LLC acquired a new stake in shares of Prairie Operating during the 3rd quarter worth $31,000. JPMorgan Chase & Co. increased its stake in Prairie Operating by 411.4% during the second quarter. JPMorgan Chase & Co. now owns 10,740 shares of the company’s stock worth $32,000 after acquiring an additional 8,640 shares during the last quarter. Finally, State of Wyoming acquired a new stake in Prairie Operating during the 2nd quarter worth approximately $32,000. Hedge funds and other institutional investors own 34.28% of the company’s stock.

Prairie Operating Company Profile

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.