Barnwell Industries, Inc. (NYSE:BRN) Major Shareholder Acquires $18,201.96 in Stock

Barnwell Industries, Inc. (NYSE:BRN) major shareholder Ned L. Sherwood purchased 6,524 shares of the business’s stock in a transaction dated Monday, May 6th. The shares were purchased at an average price of $2.79 per share, for a total transaction of $18,201.96. Following the acquisition, the insider now directly owns 2,714,825 shares of the company’s stock, valued at $7,574,361.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Large shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.

Barnwell Industries Price Performance

Barnwell Industries stock remained flat at $2.85 during trading hours on Wednesday. 12,097 shares of the company’s stock traded hands, compared to its average volume of 17,597. The firm has a market capitalization of $28.62 million, a price-to-earnings ratio of -10.63 and a beta of 0.15. Barnwell Industries, Inc. has a 1 year low of $2.06 and a 1 year high of $2.99. The company’s fifty day moving average is $2.53 and its two-hundred day moving average is $2.47.

Barnwell Industries (NYSE:BRN) last posted its earnings results on Monday, February 12th. The company reported ($0.07) EPS for the quarter. The business had revenue of $6.16 million during 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

BRN has been the topic of several research reports. TheStreet lowered shares of Barnwell Industries from a “c” rating to a “d+” rating in a research note on Thursday, March 14th. StockNews.com initiated coverage on shares of Barnwell Industries in a research note on Thursday, May 2nd. They issued a “hold” rating on the stock.

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.