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

Prairie Operating Co. (NASDAQ:PROP) was the recipient of a large increase in short interest in the month of 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. Approximately 4.0% of the shares of the company are short sold. Based on an average daily volume of 89,900 shares, the short-interest ratio is currently 3.5 days.

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.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Rhumbline Advisers bought a new stake in Prairie Operating in the 2nd quarter valued at $45,000. Barclays PLC increased its stake 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 acquiring an additional 4,574 shares during the period. Warberg Asset Management LLC acquired a new position in Prairie Operating in the second quarter worth about $127,000. Bank of New York Mellon Corp bought a new position in Prairie Operating during the second quarter worth about $208,000. Finally, State Street Corp boosted its holdings in Prairie Operating by 56.4% during 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 in the last quarter. 34.28% of the stock is currently owned by institutional investors and hedge funds.

Prairie Operating Trading Down 3.5 %

PROP traded down $0.25 on Monday, hitting $6.90. 163,915 shares of the stock traded hands, compared to its average volume of 80,856. The business has a fifty day moving average price of $8.52 and a two-hundred day moving average price of $9.37. Prairie Operating has a 52 week low of $5.27 and a 52 week high of $16.08. The firm has a market capitalization of $158.15 million, a PE ratio of -2.38 and a beta of 1.96.

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.