Singular Research Upgrades Prairie Operating (NASDAQ:PROP) to “Moderate Buy”

Prairie Operating (NASDAQ:PROP) was upgraded by analysts at Singular Research to a “moderate buy” rating in a research note issued on Monday, Zacks.com reports.

Prairie Operating Stock Down 8.3 %

Shares of PROP opened at $8.92 on Monday. The firm’s 50 day moving average price is $8.98 and its 200 day moving average price is $10.81. Prairie Operating has a twelve month low of $0.35 and a twelve month high of $18.50.

Prairie Operating (NASDAQ:PROP) last released its quarterly earnings results on Friday, August 9th. The company reported ($0.71) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.33) by ($0.38). As a group, equities analysts forecast that Prairie Operating will post 0.55 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Rhumbline Advisers acquired a new stake in shares of Prairie Operating during the 2nd quarter worth approximately $45,000. Warberg Asset Management LLC acquired a new stake in shares of Prairie Operating in the 2nd quarter valued at approximately $127,000. Finally, Bank of New York Mellon Corp bought a new position in shares of Prairie Operating during the 2nd quarter valued at about $208,000. 34.28% of the stock is currently owned by institutional investors and hedge funds.

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.