Barnwell Industries, Inc. (NYSE:BRN – Get Free Report) shot up 1% during mid-day trading on Wednesday . The stock traded as high as $1.05 and last traded at $1.02. Approximately 27,099 shares traded hands during trading, a decline of 94% from the average session volume of 455,464 shares. The stock had previously closed at $1.01.
Barnwell Industries Stock Performance
The firm has a market capitalization of $14.54 million, a price-to-earnings ratio of -1.49 and a beta of -0.04. The business has a fifty day moving average price of $1.08 and a 200 day moving average price of $1.09.
Hedge Funds Weigh In On Barnwell Industries
A number of large investors have recently modified their holdings of BRN. Aspen Grove Capital LLC acquired a new stake in Barnwell Industries during the 4th quarter worth approximately $29,000. Renaissance Technologies LLC lifted its position 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 in the last quarter. DRW Securities LLC acquired a new position in Barnwell Industries during the fourth quarter valued at approximately $37,000. Finally, JCP Investment Management LLC purchased a new stake in Barnwell Industries during the first quarter worth approximately $442,000. 40.71% of the stock is currently owned by hedge funds and other institutional investors.
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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