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Tag: BRN

  • Barnwell Industries Inc. (BRN) Bullish After Hours Following Certain New developments

    Barnwell Industries Inc. (BRN) Bullish After Hours Following Certain New developments

    On March 07, Barnwell Industries Inc. (BRN) filed a Schedule 14A with Notice of Annual Meeting of Stockholders with the SEC. The company also announced the resignation of a director. The stock remained bullish in both the regular and after-hours sessions on the day.

    During the regular trading session, BRN stock fluctuated between a high of $5.24 and a low of $3.48. The stock closed the session in the green at $4.88 as 16.92 million shares exchanged hands. The day’s volume remained super active at 4,284% of its average. Following this, the stock increased by a further 12.50% in the after-hours. Hence, BRN stock was trading at $5.49 in the after-hours on Monday. The stock had just reported its 52-week high of %5.24 during the regular session which it surpassed in the after hours. Thus, the stock reported a new high in the after hours.

    The oil and natural gas exploration company, Barnwell Industries Inc. also engages in land investment and contract drilling services.

    Recent Developments

    As per Monday’s filing, the company will be holding its Annual Meeting of Stockholders on

    Source: ASML

    Additionally, BRN also announced that Mr. Colin R. O’Farrel has resigned from the company for pursuing other opportunities. Before this, the company had also filed a Form 144, Notice of Proposed Sale of Securities with the SEC on March 04.

    BRN stock has been bullish since Friday; while the company did file Form 144 on Friday, it seems the recent filings and news aren’t the sole drivers behind its bullishness. Reports have been circulating since Friday that the Biden Government and allies are discussing a ban on Russian energy products import. With the hike in energy prices and already imposed sanctions, the recent reports have added a further crisis factor in the market. Subsequently, energy stocks have been very volatile with most adding big gains. It seems BRN stock has also been bullish due to the ongoing market situation as energy prices hiked up and are expected to increase further.

    BRN’s Financial Analysis

    On February 11, the company declared its financial results for the first quarter which ended on December 31, 2021.

    BRN had net earnings of $1,073,000 OR $0.11 per share in the quarter ended December 31, 2021. Comparatively, the company had $584,000 or $0.07 per share in the year-ago quarter.

    Moreover, the company had working capital of $10,676,000 including $12,142,000 of cash and cash equivalents, at the end of the quarter.

  • Early Morning Vibes: 4 Hot Stocks to Buy Before Weekend

    Early Morning Vibes: 4 Hot Stocks to Buy Before Weekend

    On January 21, American stock exchanges traded in a narrow range. The S&P 500 index rose by a symbolic 0.03%, to 3853 points, the NASDAQ added 0.55%, the Dow Jones lost 0.04%. The news background remained calm. Macro statistics were mostly better than expected. Growth stocks outperformed value stocks, reflecting the outperforming tech sector, climbing 1.32%.

    Company news

    According to media reports, Apple (AAPL: + 3.7%) is developing a gadget for interacting with virtual reality. The release is scheduled for 2022.

    United Airlines (UAL: -5.7%) quarterly results were in line with expectations, but the outlook for the next quarter disappointed investors.

    Oil and gas infrastructure company Kinder Morgan (KMI: -2%) performed well, but analysts are awaiting additional information, including forecasts, to be disclosed at an investor day scheduled for January 27.

    President Joseph Biden signed executive orders that set the framework for a new strategy to combat the epidemic. In particular, it is planned to deploy numerous vaccination sites and attract more health workers to it. One of the main barriers to revitalizing the vaccination campaign is insufficient government funding. To address this problem, the $ 1.9 trillion stimulus package presented by Biden included at least $ 160 billion in spending. Republicans criticized certain points of the proposed program. which also accounts for the peak reporting season. In this regard, volatility in the short term will be increased.

    Economic news

    Markit’s preliminary PMIs for January are worth checking out this Friday. In the manufacturing sector, according to the forecast, the indicator will drop from 57.1 to 56.5. In the service sector, a more significant decline is expected – from 54.8 to 53.6. The projected slowdown in business growth coincides with a short-term deterioration in the labor market. Overall, the pace of business recovery after the crisis remains satisfactory.

    Sentiment Index

    The Freedom Finance Sentiment Index climbed to 63 out of 100. The indicator reflects market participants’ hope for a global economic recovery in 2021. Concerns about the negative impact of the coronavirus pandemic are starting to wane thanks to the prospect of mass vaccinations.

    Technical picture

    Technically, the S&P 500 is showing an upward bias in the medium term. The relative strength of buyers prevails, but the upper border of the equidistant channel at 3860 points is a serious resistance. In this regard, short-term consolidation is quite possible.

    Today Top Movers

    ‎Adamis Pharma (ADMP) gained over 76.38% at $2.24 in pre-market ‎trading on Friday following an announcement from the firm that its SYMJEPI® (epinephrine) Injection products are now available to members of the Walgreens Prescription Savings Club program, for a discounted price of $99.99 for a two-pack‎‎.‎ ‎‎

    ‎Sierra Wireless Inc. (SWIR) grew over 7.61% at $19.80 in pre-market trading ‎today after the company received a bullish initiation from Wall Street. B. Riley Securities kicked off coverage of Sierra Wireless with a buy rating alongside a price target of $23.50”.‎‎‎ ‎‎

    ‎Zynga Inc (ZNGA) stock moved up 1.45 percent to $10.50 in the pre-market ‎trading. The electronic gaming & multimedia company is making headlines on Thursday as multiple news sources and traders circulate a TMT Finance report that Tencent (TCEHY) is considering finance for a large acquisition.‎‎‎ ‎‎

    ‎GameStop Corp (GME) is up more than 4.95% at $45.16 in pre-market ‎hours ‎Friday after news of the joining of Chewy founder and activist investor Ryan Cohen and two of his associates to GameStop’s board of directors. ‎‎

    Top Upgrades & Downgrades

    Keefe Bruyette turned bullish on Northern Trust Corporation (NTRS), upgrading the stock to “Outperform” and assigning a $120 price target, representing a potential upside of 27.36% from Thursday’s close. 

    Quidel Corporation (QDEL) has won the favor of Raymond James’s equity research team. The firm upgraded the shares from Market Perform to Outperform and moved their price target to $250.0, suggesting 14.42% additional upside for the stock.

    PacWest Bancorp (PACW) received an upgrade from analysts at Keefe Bruyette, who also set their one-year price target on the stock to $40. They changed their rating on PACW to Outperform from Market Perform in a recently issued research note.

    Earlier Friday Stifel reduced its rating on CSX Corporation (CSX) stock to Hold from Buy and assigned the price target to $92. With shares trading at around $91.61, the Wall Street firm thinks CSX Corporation’s stock could add than 0.42%.

    Jefferies analysts reduced their investment ratings, saying in research reports covered by the media that it’s rating for Regis Corporation (RGS) has been changed to Hold from Buy and the new price target is set at $10.

    Analysts at BMO Capital downgraded Sage Therapeutics Inc. (SAGE)’s stock to Market Perform from Outperform Friday.

    Latest Insider Activity

    BlackBerry Limited (BB) EVP, Ent. Products & VAS HO BILLY announced the sale of shares taking place on Jan 20 at $12.95 for some 20,000 shares. The total came to more than $0.26 million.

    General Motors Company (GM) Executive Vice President & CIO MOTT RANDALL D sold on Jan 19 a total of 89,427 shares at $53.69 on average. The insider’s sale generated proceeds of almost $1.34 million.

    Petco Health and Wellness Company Inc. (WOOF) Chief Inf. & Admin. Officer Zavada John declared the purchase of shares taking place on Jan 19 at $18.00 for some 1,500 shares. The transaction amount was around $27000.

    Barnwell Industries Inc. (BRN) 10% Owner SHERWOOD NED L bought on Jan 20 a total 1,236,818 shares at $1.85 on average. The purchase cost the insider an estimated $34,969.

    Important Earnings

    Top US earnings releases scheduled for today include Schlumberger Limited (NYSE: SLB). It will announce its Dec 2020 financial results. The company is expected to report earnings of $0.17 per share from revenues of $5.25B in the three-month period.

    Analysts expect Huntington Bancshares Incorporated (NASDAQ: HBAN) to report a net income (adjusted) of $0.29 per share when the bank releases its quarterly results shortly. Revenue for the fiscal quarter ended Dec 2020 is predicted to come in at $1.25B.

    Regions Financial Corporation (RF), due to announce earnings after the market closes today, is expected to report earnings of $0.42 per share from revenues of $1.56B recently concluded three-month period.