Barnwell Industries, Inc. (NYSE:BRN – Get Free Report) fell 2.2% on Wednesday . The company traded as low as $1.10 and last traded at $1.10. 25,337 shares traded hands during trading, a decline of 96% from the average session volume of 594,885 shares. The stock had previously closed at $1.1250.
Barnwell Industries Stock Performance
The company has a market capitalization of $14.07 million, a PE ratio of -1.65 and a beta of -0.04. The stock has a fifty day moving average of $1.12 and a two-hundred day moving average of $1.12.
Hedge Funds Weigh In On Barnwell Industries
A number of large investors have recently bought and sold shares of the stock. Renaissance Technologies LLC increased its stake in Barnwell Industries by 9.4% in the 1st quarter. Renaissance Technologies LLC now owns 323,713 shares of the company’s stock worth $350,000 after purchasing an additional 27,726 shares during the period. Aspen Grove Capital LLC increased its stake in Barnwell Industries by 206.9% in the 1st quarter. Aspen Grove Capital LLC now owns 79,806 shares of the company’s stock worth $86,000 after purchasing an additional 53,806 shares during the period. Finally, DRW Securities LLC purchased a new position in Barnwell Industries in the 4th quarter worth approximately $37,000. 40.71% of the stock is 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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