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 bought 204,422 shares of the company’s stock in a transaction dated Thursday, September 7th. The stock was purchased at an average cost of $3.05 per share, for a total transaction of $623,487.10. Following the completion of the transaction, the insider now owns 774,345 shares of the company’s stock, valued at $2,361,752.25. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Large shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.

Prairie Operating Trading Down 7.2 %

Prairie Operating stock traded down $0.86 during midday trading on Wednesday, reaching $11.01. The stock had a trading volume of 89,475 shares, compared to its average volume of 77,509. Prairie Operating Co. has a twelve month low of $0.32 and a twelve month high of $18.50. The firm’s fifty day simple moving average is $9.19 and its two-hundred day simple moving average is $10.95.

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

Institutional Investors Weigh In On Prairie Operating

A number of institutional investors have recently bought and sold shares of PROP. Rhumbline Advisers purchased a new stake in shares of Prairie Operating in the second quarter worth approximately $45,000. Warberg Asset Management LLC acquired a new position in Prairie Operating in the 2nd quarter valued at approximately $127,000. Finally, Bank of New York Mellon Corp purchased a new stake in Prairie Operating in the 2nd quarter worth approximately $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.