Key Points
- Director Joshua Horowitz purchased 10,478 Barnwell Industries shares at $1.00 each, increasing his ownership by 3.28% to 330,187 shares.
- Barnwell shares opened at $1.02 and were up 2.0%, with a market capitalization of approximately $14.72 million and a 52-week trading range of $0.91 to $1.40.
- Institutional investors own 40.71% of the company, with several funds—including Renaissance Technologies and Aspen Grove Capital—recently increasing or initiating positions.
Barnwell Industries, Inc. (NYSE:BRN - Get Free Report) Director Joshua Horowitz acquired 10,478 shares of the firm's stock in a transaction on Tuesday, September 8th. The shares were bought at an average cost of $1.00 per share, with a total value of $10,478.00. Following the completion of the acquisition, the director owned 330,187 shares in the company, valued at $330,187. This represents a 3.28% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink.
Barnwell Industries Stock Up 2.0%
Shares of NYSE BRN opened at $1.02 on Friday. Barnwell Industries, Inc. has a 52-week low of $0.91 and a 52-week high of $1.40. The stock has a market capitalization of $14.72 million, a P/E ratio of -1.50 and a beta of -0.03. The stock's 50 day moving average price is $1.00 and its two-hundred day moving average price is $1.06.
Hedge Funds Weigh In On Barnwell Industries
Institutional investors have recently modified their holdings of the company. Empowered Funds LLC bought a new position in Barnwell Industries in the 2nd quarter worth about $50,000. BlackRock Inc. bought a new stake in shares of Barnwell Industries during the second quarter valued at approximately $69,000. JCP Investment Management LLC bought a new stake in shares of Barnwell Industries during the first quarter valued at approximately $442,000. Renaissance Technologies LLC boosted its position in shares of Barnwell Industries by 9.4% during the first quarter. Renaissance Technologies LLC now owns 323,713 shares of the company's stock worth $350,000 after buying an additional 27,726 shares during the period. Finally, Aspen Grove Capital LLC boosted its position in shares of Barnwell Industries by 206.9% during the first quarter. Aspen Grove Capital LLC now owns 79,806 shares of the company's stock worth $86,000 after buying an additional 53,806 shares during the period. Institutional investors own 40.71% of the company's stock.
About Barnwell Industries
(
Get Free Report)
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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