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

Prairie Operating Co. (NASDAQ:PROP) was the recipient of a large decrease in short interest in the month of October. As of October 31st, there was short interest totalling 178,400 shares, a decrease of 25.8% from the October 15th total of 240,500 shares. Currently, 3.1% of the company’s stock are sold short. Based on an average daily volume of 78,700 shares, the short-interest ratio is presently 2.3 days.

Prairie Operating Trading Down 3.2 %

Shares of PROP traded down $0.27 during mid-day trading on Thursday, hitting $8.14. The company’s stock had a trading volume of 76,317 shares, compared to its average volume of 80,676. The firm has a market capitalization of $102.24 million, a price-to-earnings ratio of -2.79 and a beta of 1.95. The company’s 50-day moving average is $8.92 and its 200-day moving average is $10.17. Prairie Operating has a 52-week low of $5.27 and a 52-week high of $16.55.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Rhumbline Advisers bought a new position in shares of Prairie Operating during the 2nd quarter worth approximately $45,000. Warberg Asset Management LLC bought a new position in shares of Prairie Operating during the 2nd quarter worth approximately $127,000. Finally, Bank of New York Mellon Corp bought a new position in shares of Prairie Operating during the 2nd quarter worth approximately $208,000. Institutional investors own 34.28% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Singular Research raised shares of Prairie Operating to a “moderate buy” rating in a research 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.