Barnwell Industries (NYSE:BRN) Shares Up 10.6% – Time to Buy?

Barnwell Industries, Inc. (NYSE:BRN)’s share price was up 10.6% on Thursday . The stock traded as high as $1.14 and last traded at $1.1050. Approximately 362,043 shares changed hands 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 Stock Performance

The firm has a fifty day simple moving average of $1.09 and a 200 day simple moving average of $1.15. The company has a market capitalization of $12.66 million, a PE ratio of -1.49 and a beta of -0.23.

Insider Buying and Selling at Barnwell Industries

In other Barnwell Industries news, Director Kenneth S. Grossman purchased 59,563 shares of Barnwell Industries stock in a transaction dated Monday, November 24th. The stock was acquired at an average price of $1.10 per share, for a total transaction of $65,519.30. Following the acquisition, the director owned 271,603 shares in the company, valued at $298,763.30. This trade represents a 28.09% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Ned L. Sherwood sold 131,910 shares of the company’s stock in a transaction that occurred on Wednesday, December 3rd. The stock was sold at an average price of $1.10, for a total transaction of $145,101.00. Following the completion of the sale, the insider directly owned 2,461,498 shares of the company’s stock, valued at $2,707,647.80. The trade was a 5.09% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders purchased 162,922 shares of company stock valued at $179,214 in the last ninety days. 17.60% of the stock is owned by insiders.

Institutional Trading of Barnwell Industries

An institutional investor recently bought a new position in Barnwell Industries stock. DRW Securities LLC purchased a new stake in Barnwell Industries, Inc. (NYSE:BRN) during the fourth quarter, according to its most recent 13F filing with the SEC. The firm purchased 33,235 shares of the company’s stock, valued at approximately $37,000. DRW Securities LLC owned approximately 0.27% of Barnwell Industries as of its most recent filing with the SEC. Hedge funds and other institutional investors own 40.71% of the company’s stock.

About Barnwell Industries

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.