Barnwell Industries (NYSE:BRN) Research Coverage Started at StockNews.com

Posted by Defense World Staff on Aug 22nd, 2024

Equities research analysts at StockNews.com began coverage on shares of Barnwell Industries (NYSE:BRN – Get Free Report) in a research report issued to clients and investors on Thursday. The firm set a “hold” rating on the stock.

Barnwell Industries Trading Up 1.1 %

Shares of BRN stock opened at $2.27 on Thursday. Barnwell Industries has a 1 year low of $2.06 and a 1 year high of $3.20. The firm’s 50 day moving average is $2.34 and its 200-day moving average is $2.47. The firm has a market capitalization of $22.76 million, a price-to-earnings ratio of -6.88 and a beta of 0.15.

Insider Buying and Selling

In other Barnwell Industries news, major shareholder Ned L. Sherwood acquired 24,011 shares of Barnwell Industries stock in a transaction on Friday, May 31st. The shares were purchased at an average cost of $2.89 per share, with a total value of $69,391.79. Following the completion of the purchase, the insider now owns 2,767,995 shares in the company, valued at $7,999,505.55. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 17.60% of the company’s stock.

Institutional Investors Weigh In On Barnwell Industries

An institutional investor recently raised its position in Barnwell Industries stock. Renaissance Technologies LLC boosted its holdings in shares of Barnwell Industries, Inc. (NYSE:BRN – Free Report) by 1.9% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 355,534 shares of the company’s stock after buying an additional 6,612 shares during the quarter. Renaissance Technologies LLC owned approximately 3.55% of Barnwell Industries worth $836,000 at the end of the most recent reporting period. Institutional investors and hedge funds own 40.71% of the company’s stock.

Barnwell Industries Company Profile

(Get Free Report)

Barnwell Industries, Inc acquires, develops, produces, and sells oil and natural gas in Canada. The company operates through three segments: Oil and Natural Gas, Land Investment, and Contract Drilling. It also acquires and develops crude oil and natural gas assets in the province of Alberta, as well as invests in land interests in Hawaii.

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