Prairie Operating Co. Director Stephen Lee has recently sold a portion of his holdings in the company. The transactions, which occurred over three separate days, resulted in the sale of company shares with a total value exceeding $4,600.
The sales took place on June 21, June 24, and June 25, with prices ranging from $10.76 to $11.10 per share. On June 21, Lee sold 199 shares at a weighted average price of $10.76, with individual transactions within this sale ranging from $10.74 to $10.88. Two days later, on June 24, he sold 115 shares at an average price of $10.81, with prices ranging from $10.75 to $11.00. The final sale on June 25 consisted of 111 shares at an average price of $11.10.
Following these transactions, Lee's ownership in Prairie Operating Co. (NYSE:PROP), a company within the crude petroleum and natural gas sector, has been adjusted to reflect the reduced number of shares. After the sales, he retains 4,286 shares of common stock in the company.
Investors and interested parties can obtain further details regarding the exact number of shares sold at each price point within the stated ranges upon request to the company or the Securities and Exchange Commission.
The sales were disclosed in a Form 4 filing with the Securities and Exchange Commission by Edward Kovalik, acting as attorney-in-fact for Stephen Lee, on June 25. This form is used to report changes in company insiders' ownership and is publicly available for review.
In other recent news, independent energy company Prairie Operating Co. is set to join the Russell 3000 Index following the 2024 Russell US Indexes annual reconstitution. The company's inclusion in the index is determined by market-capitalization rankings and style attributes, potentially placing Prairie Operating in either the large-cap Russell 1000 or small-cap Russell 2000 Index. Ed Kovalik, Chairman and CEO of Prairie Operating, acknowledged this development as a reflection of the company's growth strategies. The move also offers the potential for increased investor visibility and a broader investor base. The global index provider FTSE Russell, responsible for the Russell Indexes, emphasizes the significance of their annual reconstitution in maintaining the integrity of the benchmarks. These are among the recent developments for Prairie Operating.
InvestingPro Insights
In light of the recent insider trading activity at Prairie Operating Co., investors may be evaluating the company's financial health and stock performance. Here are some key metrics and insights from InvestingPro that could provide a clearer picture:
- The company's market capitalization stands at $129.58 million, reflecting its current valuation in the market.
- Prairie Operating Co. has experienced a significant revenue growth rate of 501.39% over the last twelve months as of Q1 2024, indicating a substantial increase in sales.
- Despite this growth, the company's operating income margin is deeply negative at -1584.93%, suggesting that expenses far exceed the revenue generated.
These metrics suggest that while Prairie Operating Co. has been able to grow its top line, profitability remains a challenge. Additionally, according to InvestingPro Tips, the company has been operating at a loss over the last twelve months and is quickly burning through cash. This is consistent with the negative P/E ratio of -0.88, which further indicates that the company is not currently profitable.
For investors considering the stock's performance, it's worth noting that Prairie Operating Co. has experienced high price volatility, with a 1-month price total return of -15.55%. Nevertheless, the 1-year price total return stands at an impressive 150.83%, highlighting the stock's potential for significant swings in both directions.
For those looking for more in-depth analysis and additional InvestingPro Tips, such as the company's cash flow yield and stock price performance over the last decade, visit InvestingPro. Remember to use coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription. There are 11 more InvestingPro Tips available for Prairie Operating Co. that could guide your investment decisions.
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