Prairie Operating Co. (OTCMKTS:PROP) Chief Financial Officer, Owen Robert Craig, has recently sold shares of the company's common stock, according to the latest filings with the Securities and Exchange Commission. The transactions, which took place over three separate days, resulted in a total sale value exceeding $133,000.
The first sale occurred on June 21, 2024, with 5,719 shares sold at a weighted average price of $10.76. The shares were sold in multiple transactions at prices ranging from $10.74 to $10.88. Following the sale, Craig's ownership in the company decreased to 180,665 shares.
Two days later, on June 24, Craig sold an additional 3,319 shares for an average price of $10.81 each, with individual sales prices varying from $10.75 to $11.00. After this transaction, the CFO held 177,346 shares.
The final sale reported took place on June 25, with 3,206 shares being sold at an average price of $11.10 per share. This brought Craig's total remaining shares in Prairie Operating Co. to 174,140.
The disclosed sales by the CFO represent a notable transaction for investors monitoring insider activities within the company. Prairie Operating Co., which operates in the crude petroleum and natural gas industry, is incorporated in Delaware with its business address in Houston, Texas.
For additional details on the exact number of shares sold at each price point within the provided ranges, the reporting person has agreed to furnish full information upon request to the company, any security holder of the company, or the SEC staff.
Investors and followers of Prairie Operating Co. can find the company's stock under the ticker symbol PROP on the OTC Markets.
In other recent news, Prairie Operating Co., an independent energy company, is set to join the Russell 3000 Index, following the 2024 Russell US Indexes annual reconstitution. This inclusion, determined by market-capitalization rankings and style attributes, might also place the company in the large-cap Russell 1000 or small-cap Russell 2000 Index, as well as in applicable growth and value style indexes. According to Ed Kovalik, Chairman and CEO of Prairie Operating, this development reflects the company's growth strategies and progress, and could potentially increase investor visibility and broaden the investor base. FTSE Russell, the global index provider responsible for the Russell Indexes, highlights the importance of their annual reconstitution in ensuring the indexes accurately reflect the U.S. stock market. These are recent developments for Prairie Operating, which is based in Houston, Texas, and focuses on the development and acquisition of oil and natural gas resources in the United States.
InvestingPro Insights
As Prairie Operating Co. (OTCMKTS:PROP) experiences significant insider transactions, investors may be seeking deeper insights into the company's financial health and market performance. According to InvestingPro data, the company's market capitalization stands at a modest $129.58M, which can be a factor in the stock's noted high price volatility. The CFO's recent sale of shares coincides with a period where the stock has witnessed a 1-month price total return of -15.55%, underscoring the potential impact of insider sales on market perception.
Despite a remarkable revenue growth of 501.39% in the last twelve months as of Q1 2024, Prairie Operating Co. has not been profitable over the same period. This is reflected in the company's negative P/E ratio of -0.88 and an adjusted P/E ratio of -1.93. Such metrics may raise questions about the company's current valuation and its ability to generate positive earnings in the near future. Moreover, with a gross profit margin of 64.51%, the company demonstrates a strong ability to retain revenue after the cost of goods sold, but this is offset by an operating income margin of -1584.93%, indicating substantial operating losses.
An InvestingPro Tip highlights that the company's stock generally trades with high price volatility, which is consistent with the observed fluctuations in price returns over various periods. Additionally, the company's short-term obligations exceeding its liquid assets could be a concern for investors considering the financial stability and liquidity of Prairie Operating Co.
For those interested in a more comprehensive analysis, there are additional InvestingPro Tips available that could provide further guidance on the stock's performance and valuation. To explore these tips and gain a deeper understanding of Prairie Operating Co.'s financial outlook, visit InvestingPro. Plus, use coupon code PRONEWS24 to get an extra 10% off a yearly or biyearly Pro and Pro+ subscription, unlocking even more exclusive insights.
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