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

Prairie Operating Co. (NASDAQ:PROP - Get Free Report) was the recipient of a significant increase in short interest in November. As of November 30th, there was short interest totalling 312,600 shares, an increase of 23.7% from the November 15th total of 252,700 shares. Based on an average trading volume of 89,900 shares, the days-to-cover ratio is currently 3.5 days. Approximately 4.0% of the company's stock are sold short.

Institutional Trading of Prairie Operating

Several large investors have recently made changes to their positions in the stock. Barclays PLC lifted its holdings in Prairie Operating by 321.7% in the 3rd quarter. Barclays PLC now owns 5,996 shares of the company's stock worth $52,000 after purchasing an additional 4,574 shares during the last quarter. Geode Capital Management LLC raised its position in shares of 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 period. State Street Corp lifted its stake in shares of Prairie Operating by 56.4% in the third quarter. State Street Corp now owns 62,041 shares of the company's stock worth $543,000 after buying an additional 22,384 shares during the last quarter. Warberg Asset Management LLC bought a new stake in shares of Prairie Operating during the 2nd quarter worth $127,000. Finally, Rhumbline Advisers acquired a new position in Prairie Operating in the 2nd quarter valued at $45,000. Institutional investors own 34.28% of the company's stock.

Analysts Set New Price Targets

Separately, Singular Research raised shares of Prairie Operating to a "moderate buy" rating in a research report on Monday, October 7th.

Prairie Operating Trading Down 3.5 %

Prairie Operating stock traded down $0.25 during mid-day trading on Monday, hitting $6.90. 163,915 shares of the company's stock were exchanged, compared to its average volume of 80,856. Prairie Operating has a 1-year low of $5.27 and a 1-year high of $16.08. The stock has a 50 day moving average of $8.52 and a two-hundred day moving average of $9.37. The stock has a market cap of $158.15 million, a P/E ratio of -2.38 and a beta of 1.96.

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.

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