Barnwell Industries (NYSE:BRN) Stock Jumps 2.3% – Time to Buy?

Barnwell Industries, Inc. (NYSE:BRN) shares rose 2.3% during mid-day trading on Thursday. The stock traded as high as $0.9899 and last traded at $0.9410. Approximately 51,496 shares traded hands during mid-day trading, a decline of 84% from the average session volume of 317,866 shares. The stock had previously closed at $0.92.

Barnwell Industries Price Performance

The stock’s 50 day moving average is $0.98 and its two-hundred day moving average is $1.05. The stock has a market capitalization of $13.97 million, a PE ratio of -1.42 and a beta of -0.03.

Hedge Funds Weigh In On Barnwell Industries

A number of institutional investors and hedge funds have recently modified their holdings of the company. Empowered Funds LLC acquired a new stake in Barnwell Industries in the second quarter valued at $50,000. BlackRock Inc. acquired a new position in shares of Barnwell Industries during the 2nd quarter worth about $69,000. JCP Investment Management LLC acquired a new position in shares of Barnwell Industries during the 1st quarter worth about $442,000. Renaissance Technologies LLC increased its holdings 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 acquiring an additional 27,726 shares during the last quarter. Finally, Aspen Grove Capital LLC increased its holdings in shares of Barnwell Industries by 206.9% in the 1st quarter. Aspen Grove Capital LLC now owns 79,806 shares of the company’s stock valued at $86,000 after acquiring an additional 53,806 shares during the last quarter. Institutional investors and hedge funds own 40.71% of the company’s stock.

Barnwell Industries Company Profile

Barnwell Industries, Inc is a diversified company with operations in the energy, real estate and water-resource sectors. The company’s activities are conducted primarily through subsidiaries and include oil and natural gas exploration, development and production, real estate investment and development, and the management of water rights.

Barnwell’s energy operations are focused in Canada, where the company owns interests in oil and natural gas properties. Its real estate and water-resource activities are based in Hawaii and include the ownership, development and sale of property, as well as the management and leasing of water rights and related resources.

Founded in 1956, Barnwell Industries is headquartered in Honolulu, Hawaii.