Prairie Operating Co. (NASDAQ:PROP) Short Interest Up 80.5% in December

Prairie Operating Co. (NASDAQ:PROP) was the target of a large increase in short interest in December. As of December 31st, there was short interest totalling 583,900 shares, an increase of 80.5% from the December 15th total of 323,500 shares. Currently, 9.1% of the shares of the stock are sold short. Based on an average daily trading volume, of 112,000 shares, the days-to-cover ratio is currently 5.2 days.

Institutional Investors Weigh In On Prairie Operating

A number of institutional investors and hedge funds have recently made changes to their positions in PROP. Bank of New York Mellon Corp bought a new stake in shares of Prairie Operating during the second quarter worth $208,000. Rhumbline Advisers bought a new stake in shares of Prairie Operating during the second quarter worth $45,000. State Street Corp increased its holdings in Prairie Operating by 56.4% in the third quarter. State Street Corp now owns 62,041 shares of the company’s stock valued at $543,000 after purchasing an additional 22,384 shares during the last quarter. Barclays PLC increased its holdings in Prairie Operating by 321.7% in the third quarter. Barclays PLC now owns 5,996 shares of the company’s stock valued at $52,000 after purchasing an additional 4,574 shares during the last quarter. Finally, Geode Capital Management LLC increased its holdings in Prairie Operating by 16.5% in the third quarter. Geode Capital Management LLC now owns 121,966 shares of the company’s stock valued at $1,069,000 after purchasing an additional 17,290 shares during the last quarter. Institutional investors own 34.28% of the company’s stock.

Prairie Operating Stock Performance

Prairie Operating stock traded down $0.13 on Friday, reaching $7.58. The company’s stock had a trading volume of 170,160 shares, compared to its average volume of 278,048. The company has a market cap of $173.62 million, a price-to-earnings ratio of -2.53 and a beta of 1.95. The business’s fifty day moving average price is $7.63 and its 200 day moving average price is $8.61. Prairie Operating has a twelve month low of $4.91 and a twelve month high of $16.08.

Wall Street Analysts Forecast Growth

Separately, Singular Research raised Prairie Operating to a “moderate buy” rating in a research note on Monday, October 7th.

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.