Prairie Operating Co. (NASDAQ:PROP) Sees Large Increase in Short Interest

Prairie Operating Co. (NASDAQ:PROP) was the target of a large increase in short interest in August. As of August 31st, there was short interest totaling 13,161,792 shares, an increase of 61.6% from the August 15th total of 8,146,378 shares. Based on an average trading volume of 3,448,081 shares, the short-interest ratio is currently 3.8 days. Approximately 12.0% of the company’s stock are sold short.

Hedge Funds Weigh In On Prairie Operating

Hedge funds and other institutional investors have recently bought and sold shares of the business. BlackRock Inc. acquired a new stake in shares of Prairie Operating during the 2nd quarter worth about $635,000. Corient Private Wealth LP bought a new position in Prairie Operating in the 2nd quarter valued at about $313,000. Retirement Planning Group LLC lifted its position in Prairie Operating by 772.1% during the first quarter. Retirement Planning Group LLC now owns 147,763 shares of the company’s stock worth $300,000 after acquiring an additional 130,819 shares during the last quarter. Bank of America Corp DE grew its position in shares of Prairie Operating by 526.3% in the first quarter. Bank of America Corp DE now owns 135,897 shares of the company’s stock valued at $276,000 after purchasing an additional 114,199 shares during the last quarter. Finally, Fore Capital LLC bought a new position in shares of Prairie Operating during the second quarter worth approximately $227,000. Institutional investors own 34.28% of the company’s stock.

Prairie Operating Stock Up 1.5%

NASDAQ PROP traded up $0.01 on Thursday, reaching $0.40. The company had a trading volume of 697,154 shares, compared to its average volume of 2,948,714. The company’s fifty day moving average is $0.65 and its 200-day moving average is $1.03. Prairie Operating has a 1-year low of $0.38 and a 1-year high of $2.55. The firm has a market capitalization of $45.26 million, a price-to-earnings ratio of -0.20 and a beta of 1.25. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.23 and a current ratio of 0.25.

Prairie Operating (NASDAQ:PROP) last posted its quarterly earnings data 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. Prairie Operating had a positive return on equity of 46.53% and a negative net margin of 13.02%.The business had revenue of $98.86 million during the quarter. On average, research analysts forecast that Prairie Operating will post 0.51 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. Weiss Ratings raised shares of Prairie Operating from a “sell (e)” rating to a “sell (e+)” rating in a research note on Thursday, September 10th. Wall Street Zen upgraded Prairie Operating from a “sell” rating to a “hold” rating in a research note on Saturday, August 22nd. Zacks Research lowered shares of Prairie Operating from a “hold” rating to a “strong sell” rating in a research report on Wednesday, July 15th. Finally, Roth Capital reiterated a “buy” rating and set a $2.00 price objective on shares of Prairie Operating in a research note on Monday, August 17th. One equities research analyst has rated the stock with a Buy rating, one has given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Reduce” and an average target price of $2.50.

Prairie Operating Company Profile