Insider Buying: Prairie Operating Co. (NASDAQ:PROP) Major Shareholder Acquires 204,422 Shares of Stock

Prairie Operating Co. (NASDAQ:PROP) major shareholder James W. Wallis acquired 204,422 shares of the firm’s stock in a transaction dated Thursday, September 7th. The stock was purchased at an average cost of $3.05 per share, with a total value of $623,487.10. Following the completion of the acquisition, the insider now directly owns 774,345 shares of the company’s stock, valued at approximately $2,361,752.25. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Large shareholders that own 10% or more of a company’s stock are required to disclose their sales and purchases with the SEC.

Prairie Operating Trading Down 6.9 %

PROP stock opened at $9.21 on Friday. Prairie Operating Co. has a 12 month low of $0.32 and a 12 month high of $18.50. The company has a fifty day moving average price of $9.23 and a 200 day moving average price of $10.93.

Prairie Operating (NASDAQ:PROP) last announced its earnings results on Friday, August 9th. The company reported ($0.71) earnings per share for the quarter, missing the consensus estimate of ($0.33) by ($0.38). Analysts forecast that Prairie Operating Co. will post 0.55 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the stock. Bank of New York Mellon Corp acquired a new stake in shares of Prairie Operating during the second quarter worth $208,000. Warberg Asset Management LLC purchased a new position in Prairie Operating during the 2nd quarter worth $127,000. Finally, Rhumbline Advisers acquired a new stake in shares of Prairie Operating in the 2nd quarter worth $45,000. 34.28% of the stock is currently owned by hedge funds and other institutional investors.

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.