Barnwell Industries (NYSE:BRN) Stock Price Up 0.1% – Still a Buy?

Barnwell Industries, Inc. (NYSE:BRN) shot up 0.1% on Friday. The stock traded as high as $0.9173 and last traded at $0.8710. 15,774 shares were traded during mid-day trading, a decline of 95% from the average session volume of 345,465 shares. The stock had previously closed at $0.87.

Barnwell Industries Price Performance

The stock’s fifty day simple moving average is $0.96 and its 200-day simple moving average is $1.02. The firm has a market cap of $12.57 million, a PE ratio of -1.28 and a beta of 0.09.

Institutional Trading of Barnwell Industries

A number of hedge funds and other institutional investors have recently made changes to their positions in BRN. JCP Investment Management LLC purchased a new stake in Barnwell Industries in the 1st quarter worth approximately $442,000. Renaissance Technologies LLC grew 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 valued at $350,000 after acquiring an additional 27,726 shares during the period. Aspen Grove Capital LLC increased its holdings 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 acquiring an additional 53,806 shares in the last quarter. BlackRock Inc. purchased a new position in Barnwell Industries during the second quarter valued at $69,000. Finally, Empowered Funds LLC acquired a new stake in shares of Barnwell Industries in the second quarter valued at about $50,000. Institutional investors and hedge funds own 40.71% of the company’s stock.

Barnwell Industries Company Profile

Barnwell Industries, Inc is a diversified holding company that operates through subsidiaries in the energy, real estate, and water infrastructure sectors. The company has historically focused on acquiring, developing, and managing assets in North America, with activities concentrated in Hawaii and Canada.

Barnwell’s energy business is involved in the exploration, development, production, and sale of crude oil and natural gas, primarily through interests in Canadian properties. Its real estate activities include land investment and development in Hawaii, where the company has participated in residential and other property projects.

The company also owns and operates water and wastewater systems serving customers in Hawaii.