Barnwell Industries (NYSE:BRN) Stock Price Up 1.7% – Time to Buy?

Barnwell Industries, Inc. (NYSE:BRN)’s stock price rose 1.7% on Tuesday . The stock traded as high as $1.1850 and last traded at $1.17. Approximately 397,257 shares traded hands during trading, a decline of 42% from the average daily volume of 689,295 shares. The stock had previously closed at $1.15.

Barnwell Industries Stock Performance

The firm has a 50 day simple moving average of $1.10 and a two-hundred day simple moving average of $1.14. The firm has a market capitalization of $14.45 million, a P/E ratio of -1.69 and a beta of -0.15.

Institutional Investors Weigh In On Barnwell Industries

An institutional investor recently bought a new position in Barnwell Industries stock. Aspen Grove Capital LLC bought a new position in shares of Barnwell Industries, Inc. (NYSE:BRN) during the fourth quarter, according to its most recent filing with the SEC. The fund bought 26,000 shares of the company’s stock, valued at approximately $29,000. Aspen Grove Capital LLC owned 0.21% of Barnwell Industries at the end of the most recent reporting period. 40.71% of the stock is currently owned by institutional investors.

Barnwell Industries Company Profile

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.