Prairie operating Co. executive reports stock transactions By Investing.com

General Counsel of Prairie Operating Co. (NYSE:PROP), Daniel T. Sweeney, has recently engaged in multiple stock transactions, according to the latest SEC filings. On June 12 and 14, Sweeney sold a total of 1,614 shares of common stock for an aggregate price of $18,613.

The transactions included sales at weighted average prices of $12.85 and $10.98 per share. Specifically, on June 12, Sweeney sold 477 shares with prices ranging from $12.75 to $13.18, while on June 14, another 1,137 shares were sold at prices between $10.90 and $11.01. These sales were made to cover tax withholding obligations related to the vesting of restricted stock units.

In addition to the sales, Sweeney also acquired 47,963 restricted stock units (RSUs) under the company’s 2024 Amended & Restated Long-Term Incentive Plan. These units are set to vest in three annual installments starting from March 5, 2025. The RSUs represent a contingent right to receive one share of common stock upon vesting.

Furthermore, Sweeney was awarded performance units representing the right to receive shares of common stock, with the potential to vest between 0% and 200% of the target number of units. The vesting is contingent upon continued employment and the company’s performance in comparison to its peers, over a three-year period starting January 1, 2024.

The reported transactions provide insights into the executive’s trading activities and holdings in Prairie Operating Co., giving investors a glimpse into insider stock movements. Daniel T. Sweeney’s role as General Counsel & Corporate Secretary places him in a position to make informed decisions regarding his stock transactions within the company.

In other recent news, independent energy company Prairie Operating Co. is set to join the Russell 3000 Index, an event that will occur at the opening of U.S. equity markets. This is part of the 2024 Russell US Indexes annual reconstitution. The company’s inclusion in the index is determined by market-capitalization rankings and style attributes and could potentially place Prairie Operating in either the large-cap Russell 1000 or small-cap Index, as well as applicable growth and value style indexes.

Prairie Operating’s CEO, Ed Kovalik, views the inclusion as a reflection of the company’s growth strategies and progress. He also anticipates increased investor visibility and a broader investor base as a result of the inclusion. These are recent developments that could potentially influence the company’s future.

Russell, the global index provider responsible for the Russell Indexes, has underscored the significance of their annual reconstitution in ensuring the indexes accurately reflect the U.S. stock market and remain unbiased. This information was disclosed in a press release statement and has yet to be independently verified. Prairie Operating’s forward-looking statements involve risks and uncertainties, and actual results may differ from those projected, as detailed in the company’s periodic filings with the Securities and Exchange Commission.

InvestingPro Insights

In light of the recent insider transactions at Prairie Operating Co., investors may find the latest InvestingPro data and tips insightful for understanding the company’s financial standing and stock performance. As of the last twelve months, Prairie Operating Co. has shown a significant revenue growth of 501.39%, with a gross profit margin of 64.51%. Despite these impressive figures, the company’s operating income margin stands at -1584.93%, highlighting substantial losses in relation to its revenues.

InvestingPro Tips suggest that Prairie Operating Co. has been quickly burning through cash and that its stock has fared poorly over the last month, with a 16.99% drop. Additionally, the short-term obligations of the company exceed its liquid assets, which is a point of concern for liquidity and financial stability. For investors seeking a more comprehensive analysis, there are additional InvestingPro Tips available at https://www.investing.com/pro/PROP, which could provide deeper insights into the company’s financial health and stock prospects.

The company’s market capitalization stands at a modest $130.07 million, and with a negative P/E ratio of -1.91, it indicates that the company is not currently profitable. Moreover, the stock price has experienced a substantial decline over the past week, with a total return of -20.42%. This volatility is something investors should consider, especially in the context of the insider trading activities of Daniel T. Sweeney.

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