Short Interest in Prairie Operating Co. (NASDAQ:PROP) Increases By 80.5%

Prairie Operating Co. (NASDAQ:PROP) was the recipient of a significant 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. Based on an average daily trading volume, of 112,000 shares, the short-interest ratio is currently 5.2 days. Currently, 9.1% of the shares of the company are sold short.

Institutional Trading of Prairie Operating

Several hedge funds and other institutional investors have recently added to or reduced their stakes in PROP. Navigation Wealth Management Inc. acquired a new position in shares of Prairie Operating in the fourth quarter worth about $83,000. JPMorgan Chase & Co. raised its holdings in Prairie Operating by 163.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 6,966 shares of the company’s stock worth $61,000 after purchasing an additional 4,321 shares during the period. Barclays PLC raised 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 period. Geode Capital Management LLC boosted its position 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 in the last quarter. Finally, State Street Corp grew 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 period. Institutional investors and hedge funds 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.

Prairie Operating Trading Down 7.7 %

Shares of NASDAQ:PROP opened at $5.05 on Wednesday. Prairie Operating has a 12-month low of $4.91 and a 12-month high of $16.08. The business has a 50 day moving average of $7.70 and a two-hundred day moving average of $8.62. The company has a market capitalization of $115.74 million, a PE ratio of -1.68 and a beta of 1.95.

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.