Jonathan H. Gray, a director at Prairie Operating Co. (NYSE:PROP), has recently made significant transactions in the company's stock, according to the latest SEC filings. On September 7, 2023, Gray purchased 109,024 shares of common stock at $3.05 per share, totaling over $332,523.
This transaction was part of a broader set of acquisitions by Gray on the same date, which included 254.87 shares of Series D Convertible Preferred Stock, and warrants that could potentially convert to additional common stock. These derivatives were purchased at prices between $5.00 and $6.00, amounting to a total of $612,974.
In addition to these purchases, the filings also revealed exercise transactions coded as "X" on April 25, 2024, involving the disposition of warrants that were adjusted following a reverse stock split on October 16, 2023. The transactions resulted in the acquisition of common stock valued at $1,205,850 at a price of $6.00 per share.
It's important to note that some of the securities acquired by Gray are indirectly held through First Idea International, Ltd. and First Idea Ventures LLC, entities in which Gray and his spouse, Chloe Gray, each hold a 50% interest and share voting and investment power.
Gray's transactions come after Prairie Operating Co., which operates in the crude petroleum and natural gas industry, has undergone several name changes in the past, previously known as Creek Road Miners, Inc., WIZARD BRANDS, INC., and WIZARD ENTERTAINMENT, INC.
Investors following Prairie Operating Co. may find these transactions of interest as they provide insight into the actions of a company director and his confidence in the firm's stock.
InvestingPro Insights
Jonathan H. Gray's recent investments in Prairie Operating Co. (NYSE:PROP) highlight a director's growing stake in the company. For investors monitoring this activity, several metrics and tips from InvestingPro provide additional context to these transactions.
InvestingPro Data shows a substantial 292.31% return over the last year, reflecting a strong performance that might have influenced Gray's confidence in the company's prospects. Despite the impressive revenue growth of 501.39% in the last twelve months as of Q1 2024, it's important to note that the company has been operating at a loss, with an operating income margin of -1584.93%.
Two InvestingPro Tips that stand out for Prairie Operating Co. are its high volatility in stock price movements and the fact that it's not profitable over the last twelve months. These factors could be critical for potential investors to consider when evaluating the company's future performance.
For those interested in gaining deeper insights, InvestingPro offers additional tips on Prairie Operating Co., which can be accessed through their platform. By using the coupon code PRONEWS24, readers can receive an additional 10% off a yearly or biyearly Pro and Pro+ subscription, unlocking a wealth of investment knowledge. Currently, there are 9 more InvestingPro Tips available that could further guide investment decisions related to Prairie Operating Co.
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