Barnwell Industries, Inc. (NYSE:BRN – Get Free Report) shares rose 2.9% on Thursday . The stock traded as high as $1.11 and last traded at $1.06. Approximately 219,191 shares traded hands during trading, a decline of 47% from the average daily volume of 414,228 shares. The stock had previously closed at $1.03.
Barnwell Industries Price Performance
The stock has a market capitalization of $15.40 million, a price-to-earnings ratio of -1.57 and a beta of -0.04. The business’s fifty day moving average price is $1.05 and its 200-day moving average price is $1.09.
Institutional Trading of Barnwell Industries
Several hedge funds have recently bought and sold shares of the stock. DRW Securities LLC purchased a new position in shares of Barnwell Industries during the fourth quarter valued at about $37,000. Aspen Grove Capital LLC bought a new position in Barnwell Industries during the fourth quarter valued at approximately $29,000. Renaissance Technologies LLC boosted its stake in Barnwell Industries by 9.4% during the first quarter. Renaissance Technologies LLC now owns 323,713 shares of the company’s stock valued at $350,000 after buying an additional 27,726 shares during the last quarter. Finally, JCP Investment Management LLC purchased a new position in Barnwell Industries during the 1st quarter valued at approximately $442,000. Hedge funds and other institutional investors own 40.71% of the company’s stock.
Barnwell Industries Company Profile
Barnwell Industries, Inc (NYSE: BRN) is an independent energy company headquartered in Houston, Texas. The company specializes in the acquisition, development and operation of onshore oil and natural gas properties. Its strategy centers on purchasing and managing producing assets that offer stable, cash‐flow characteristics in mature U.S. resource plays.
Barnwell’s core activities include the identification and evaluation of undervalued or under-drilled leases, followed by the implementation of low-cost development programs to enhance production.
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