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

Prairie Operating Co. (NASDAQ:PROP - Get Free Report) was the target of a large increase in short interest during the month of 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 company's shares are short sold. Based on an average daily volume of 112,000 shares, the short-interest ratio is currently 5.2 days.

Prairie Operating Stock Performance

Shares of Prairie Operating stock traded up $2.67 on Wednesday, reaching $7.72. The company had a trading volume of 1,214,648 shares, compared to its average volume of 261,741. The firm's 50 day moving average price is $7.67 and its two-hundred day moving average price is $8.61. Prairie Operating has a 52-week low of $4.91 and a 52-week high of $16.08. The firm has a market cap of $176.93 million, a PE ratio of -2.57 and a beta of 1.95.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in PROP. State Street Corp raised its holdings in shares of Prairie Operating by 56.4% in the 3rd quarter. State Street Corp now owns 62,041 shares of the company's stock valued at $543,000 after buying an additional 22,384 shares during the period. Bank of New York Mellon Corp acquired a new position in Prairie Operating in the 2nd quarter valued at about $208,000. Geode Capital Management LLC increased its stake in Prairie Operating by 16.5% during the third quarter. Geode Capital Management LLC now owns 121,966 shares of the company's stock worth $1,069,000 after purchasing an additional 17,290 shares during the period. Navigation Wealth Management Inc. acquired a new stake in shares of Prairie Operating during the fourth quarter worth about $83,000. Finally, Barclays PLC boosted its stake in shares of 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 period. 34.28% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

About Prairie Operating

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.