Barnwell Industries (NYSE:BRN) Shares Up 1% – Here’s Why

Barnwell Industries, Inc. (NYSE:BRN) traded up 1% during mid-day trading on Wednesday . The company traded as high as $1.05 and last traded at $1.02. 27,099 shares traded hands during trading, a decline of 94% from the average daily volume of 455,464 shares. The stock had previously closed at $1.01.

Barnwell Industries Stock Up 1.0%

The firm has a 50-day moving average of $1.08 and a two-hundred day moving average of $1.10. The company has a market capitalization of $14.68 million, a PE ratio of -1.50 and a beta of -0.04.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Aspen Grove Capital LLC acquired a new position in shares of Barnwell Industries in the fourth quarter worth $29,000. DRW Securities LLC acquired a new stake in shares of Barnwell Industries in the fourth quarter valued at $37,000. Renaissance Technologies LLC raised its stake in shares of Barnwell Industries by 9.4% in the first quarter. Renaissance Technologies LLC now owns 323,713 shares of the company’s stock valued at $350,000 after acquiring an additional 27,726 shares in the last quarter. Finally, JCP Investment Management LLC purchased a new position in Barnwell Industries in the first quarter valued at $442,000. Institutional investors and hedge funds 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.