Prairie Operating Co. (NASDAQ:PROP) Short Interest Up 80.5% in December

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

Institutional Investors Weigh In On Prairie Operating

Several large investors have recently added to or reduced their stakes in PROP. Rhumbline Advisers bought a new position in shares of Prairie Operating during the second quarter worth about $45,000. Barclays PLC boosted its stake in Prairie Operating by 321.7% during the 3rd 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. JPMorgan Chase & Co. grew its position 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 last quarter. Navigation Wealth Management Inc. acquired a new stake in shares of Prairie Operating in the fourth quarter valued at approximately $83,000. Finally, Bank of New York Mellon Corp acquired a new stake in shares of Prairie Operating in the second quarter valued at approximately $208,000. 34.28% of the stock is owned by institutional investors and hedge funds.

Prairie Operating Trading Down 0.3 %

Shares of NASDAQ PROP opened at $7.70 on Friday. Prairie Operating has a 12-month low of $4.91 and a 12-month high of $16.08. The company has a market cap of $176.48 million, a price-to-earnings ratio of -2.57 and a beta of 1.95. The stock’s 50 day simple moving average is $7.63 and its 200 day simple moving average is $8.61.

Wall Street Analysts Forecast Growth

Separately, Singular Research upgraded shares of Prairie Operating to a “moderate buy” rating in a research note on Monday, October 7th.

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.