Barnwell Industries (NYSE:BRN) Trading Up 10.6% – What’s Next?

Barnwell Industries, Inc. (NYSE:BRN) shares rose 10.6% during trading on Thursday . The company traded as high as $1.14 and last traded at $1.1050. Approximately 362,043 shares were traded during trading, an increase of 110% from the average daily volume of 172,529 shares. The stock had previously closed at $0.9990.

Barnwell Industries Trading Up 10.6%

The stock has a 50 day moving average of $1.09 and a 200-day moving average of $1.16. The stock has a market capitalization of $13.85 million, a P/E ratio of -1.62 and a beta of -0.23.

Insider Activity at Barnwell Industries

In related news, VP Philip F. Patman, Jr. purchased 43,796 shares of the firm’s stock in a transaction dated Monday, November 24th. The stock was purchased at an average price of $1.10 per share, with a total value of $48,175.60. Following the completion of the purchase, the vice president owned 210,211 shares of the company’s stock, valued at approximately $231,232.10. The trade was a 26.32% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Joshua Horowitz purchased 45,000 shares of the stock in a transaction that occurred on Monday, November 24th. The stock was purchased at an average price of $1.10 per share, with a total value of $49,500.00. Following the acquisition, the director directly owned 315,276 shares of the company’s stock, valued at $346,803.60. This trade represents a 16.65% increase in their position. The SEC filing for this purchase provides additional information. In the last three months, insiders acquired 162,922 shares of company stock valued at $179,214. 17.60% of the stock is owned by insiders.

Institutional Investors Weigh In On Barnwell Industries

A hedge fund recently bought a new stake in Barnwell Industries stock. Aspen Grove Capital LLC purchased a new stake in shares of Barnwell Industries, Inc. (NYSE:BRN) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 26,000 shares of the company’s stock, valued at approximately $29,000. Aspen Grove Capital LLC owned 0.21% of Barnwell Industries at the end of the most recent quarter. 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.