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Edward Kovalik, the Chief Executive Officer of Prairie Operating Co. (NASDAQ:PROP), has recently increased his holdings in the company amid the stock’s significant decline of nearly 70% over the past year. According to a recent SEC filing, Kovalik purchased a total of 13,840 shares of common stock over two consecutive days. The transactions, dated May 22 and May 23, were executed at prices ranging from $3.51 to $3.74 per share, totaling $50,119. Following these acquisitions, Kovalik now holds 1,339,055 shares directly. This move signals confidence in the company’s future prospects, particularly as analysts have set price targets between $9-$10. According to InvestingPro, Prairie Operating shows mixed signals with a WEAK Financial Health Score but potential upside based on analyst forecasts. InvestingPro subscribers have access to 15 additional key insights about PROP’s financial outlook.
In other recent news, Prairie Operating Co. has completed the acquisition of oil and gas properties from Bayswater Resources, as detailed in their SEC filing. This strategic move is expected to enhance the company’s position in the sector by integrating these new assets into its portfolio. Prairie Operating Co. has also released audited financial statements and pro forma financial information to provide a comprehensive view of the acquisition’s impact. Additionally, analysts from Clear Street have initiated coverage on Prairie Operating Co. with a Buy rating and a $16 price target, citing the company’s growth prospects and cost efficiency. They project significant production growth and margin expansion due to the company’s strategic focus on the DJ Basin. Piper Sandler also initiated coverage with an Overweight rating and a price target of $11, highlighting Prairie Operating’s consolidation efforts in the DJ Basin’s oil-window. Meanwhile, ClearSign Technologies Corporation has expanded its Board of Directors, appointing Anthony DiGiandomenico and Lou Basenese to newly created positions. This expansion aligns with the company’s focus on decarbonization and improving performance characteristics in industrial systems.
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