Barnwell Industries, Inc. (NYSE:BRN) Major Shareholder Purchases $46,200.08 in Stock

Barnwell Industries, Inc. (NYSE:BRN) major shareholder Ned L. Sherwood purchased 17,048 shares of the stock in a transaction that occurred on Wednesday, April 24th. The stock was bought at an average cost of $2.71 per share, with a total value of $46,200.08. Following the acquisition, the insider now owns 2,687,025 shares of the company’s stock, valued at $7,281,837.75. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website. Major shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.

Barnwell Industries Price Performance

Shares of NYSE BRN opened at $2.95 on Friday. Barnwell Industries, Inc. has a fifty-two week low of $2.06 and a fifty-two week high of $2.99. The firm has a market capitalization of $29.68 million, a P/E ratio of -10.93 and a beta of 0.19. The company’s 50 day simple moving average is $2.45 and its 200 day simple moving average is $2.46.

Barnwell Industries (NYSE:BRN) last announced its quarterly earnings data on Monday, February 12th. The company reported ($0.07) EPS for the quarter. The company had revenue of $6.16 million for the quarter. Barnwell Industries had a negative return on equity of 14.70% and a negative net margin of 11.35%.

Analysts Set New Price Targets

Several equities research analysts have recently commented on BRN shares. StockNews.com started coverage on Barnwell Industries in a research note on Wednesday. They issued a “hold” rating for the company. TheStreet lowered Barnwell Industries from a “c” rating to a “d+” rating in a research report on Thursday, March 14th.

About Barnwell Industries

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.