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Barnwell Industries Inc. (BRN): The stock medium term indicators show it’s time to Buy

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Barnwell Industries Inc. (BRN) saw downtrend of -3.74% in the recent trading with $3.09 being its most recent. The current price level -55.79% lower than the highest price of $6.99 marked by the stock while trading over the past 52-weeks, whereas it is 414.14% higher than the lowest price of $0.60 the company dropped to over past 52-weeks. The latest news story on BRN appeared in GlobeNewswire under the title “Barnwell Industries, Inc. Reports Results for the Second Quarter and Six Months Ended March 31, 2021” on May-12-21.

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Squeezing the time span to 30 day period shows us the stock is currently trading -18.68% below one month high and is +28.75% above of the lowest during that time. Looking into the simple moving average, Barnwell Industries Inc. (BRN)’s stock stands at a SMA-50 of $2.76 while that of 5-day is reading $3.21.

Daily rise and fall of price influence many of the traders, and in order to overcome the fluctuating effect of that and to watch the stock closely, traders focus more on stock’s 200-day moving average. At various points in trading activity, investors are more likely to be making use of that measure as a strong indicator in figuring out their support and resistance levels, and BRN’s SMA-200 as of now is $1.95.

Barnwell Industries Inc. Earnings – What Happened With BRN

Coming around sales and income figures, publically trading companies under normal circumstances post earnings and revenues near to average estimates by the Wall Street analysts, but those could came either above or below estimates and known as surprise factor. During the reported three-month period, company’s sales were $4.0 billion.

BRN – Barnwell Industries Inc. Stock Earnings Estimates

Investors get the exact data about the key information of institutional ownership in a listed company through its 13F filings at the Stock Exchange Commission (SEC). The total number of common shares currently owned by the public is 8.28 million. BRN does have institutional investors; and they hold 11.90% of the stock.

Barnwell Industries Inc. – Insider Activity and Holdings

Moreover, the latest SEC filings also revealed that stock came across 6 new insider purchases involving 149,109 shares. On the other hand, BRN declared 85,000 shares have been sold in 3 insider transactions over the past three months.

As on Mar 30, 2021, Renaissance Technologies, LLC was the top most holder in Barnwell Industries Inc. (AMEX:BRN) with an ownership of 0.43 million shares of the company or 5.14% of the stake worth $1.09 million. The filing also reveals Blackrock Inc. as the second largest holder in the company with a control over 0.99% of the outstanding shares. Its stake is worth $0.21 million for having 82066.0 shares in hand.

Boothbay Fund Management, LLC also came holding a key position in the company during the recent quarter and it now holds 0.91% of the outstanding shares. With this there are now 17 institutions which have possession in BRN’s shares.

Technical Analysis of Barnwell Industries Inc. (AMEX:BRN) stock

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To comprehend better with the trade moves and investors’ behavior, exploring the short, medium and long term technical indicators along with average volume of a stock is an effective way to make use of. When looking into those indicators for Barnwell Industries Inc. (BRN), we notice that the stock’s 20-day average volume is at 1,295,345 shares and 50% of short term indicators are suggesting the stock as Buy. Medium term indicators at an average of 50% are spotting the stock at Buy with its 50-day average volume of 988,514 shares. And to end, BRN’s 100-day average volume is 791,573 shares with 100% of the long-term indicators pointing towards Buy for the stock.

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