Shares of Barnwell Industries, Inc. (NYSE:BRN – Get Free Report) traded up 2.9% during mid-day trading on Thursday . The company traded as high as $1.11 and last traded at $1.06. Approximately 219,191 shares were traded during trading, a decline of 47% from the average session volume of 414,228 shares. The stock had previously closed at $1.03.
Barnwell Industries Trading Up 2.9%
The company has a market capitalization of $15.26 million, a price-to-earnings ratio of -1.56 and a beta of -0.04. The company has a 50 day moving average price of $1.05 and a 200 day moving average price of $1.09.
Institutional Investors Weigh In On Barnwell Industries
A number of institutional investors and hedge funds have recently modified their holdings of BRN. Aspen Grove Capital LLC bought a new position in Barnwell Industries in the fourth quarter valued at approximately $29,000. DRW Securities LLC bought a new stake in shares of Barnwell Industries during the 4th quarter valued at $37,000. Renaissance Technologies LLC lifted its stake in shares of Barnwell Industries by 9.4% in the 1st quarter. Renaissance Technologies LLC now owns 323,713 shares of the company’s stock valued at $350,000 after purchasing an additional 27,726 shares during the period. Finally, JCP Investment Management LLC bought a new position in shares of Barnwell Industries in the 1st quarter worth $442,000. 40.71% of the stock is owned by institutional investors.
About Barnwell Industries
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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