Berry Corp (NASDAQ:BRY) saw an upside of 0.99% to close Friday at $8.15 after adding $0.08 on the day. The 5-day average trading volume is 715,560 shares of the company’s common stock. It has gained $8.38 in the past week and touched a new high 2 times within the past 5 days. An average of 713,595 shares of the company has been traded in the last 20 days, and the 50-day average volume stands at 679,408.
BRY’s 1-month performance is -2.04% or -$0.25 on its low of $8.02 reached on 09/21/23. The company’s shares have touched a 52-week low of $6.22 and high of $10.15, with the stock’s rally to the 52-week high happening on 02/22/23. YTD, BRY has achieved 7.76% or $0.15 and has reached a new high 12 times. However, the current price is down -19.73% from the 52-week high price.
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Insider Transactions
BRY stock investors last saw insider trading activity on Sep 01.Hunter Danielle E. (President) most recently sold 15,000 shares at $8.77 per share on Sep 01. This transaction cost the insider $131,505. Executive Chairman, Smith Arthur T., sold 81,365 shares at a price of $8.28 on Aug 18. Then, on Aug 18, President Hunter Danielle E. sold 10,000 shares at a price of $8.25 per share. This transaction amounted to $82,500.
Valuation Metrics
BRY stock has a beta of 2.16. Moving on to other valuation ratios, the trailing price-to-sales (P/S) ratio is 0.66 while the price-to-book (PB) in the most recent quarter is 0.81, with the price to cash flow ratio at 4.24.
Berry Corp’s quick ratio for the period ended June 29 was 0.79, with the current ratio over the same period at 0.91. As well, the company’s long term debt to equity for the quarter ending June 29 was 0.55, while the total debt to equity was 0.56. In terms of profitability, the gross margin trailing 12 months is 26.89%. The trailing 12-month EBITDA margin is 42.74% while for the period ending June 29, Berry Corp’s operating margin was 11.09%. The firm’s gross profit as reported stood at $238.79 million against revenue of $918.34 million.
Earnings Surprise
For the quarterly period ending June 29 this year, Net income and sales went down compared to those figures reported in the previous quarter. Net income shrunk -68.22% to $25.77 million, while revenue of -$5.86 million was 122.74% off the previous quarter. Analysts expected BRY to announce -$0.02 per share in earnings in its latest quarter, but it posted $0.15, representing a 850.00% surprise. EBITDA for the quarter stood at more than $86.67 million. BRY stock balance sheet for the quarter ending June 29 shows that total liabilities totaled 761.13 million, with total debt at $423.05 million. Shareholders hold equity totaling $75.66 million.
Let’s look briefly at Berry Corp (BRY) price momentum from a technical analysis perspective. The 9-day relative strength index as at close on 22 September was 42.01% to suggest the stock is trending Neutral, with historical volatility in this time period at 15.79%.
The stock’s 5-day moving average is $8.13, reflecting a -0.73% or -$0.06 change from its current price. BRY is currently trading -0.37% above its 20-day SMA, +7.38% above its 100-day SMA. However, the stock’s current price level is away from the SMA50 by +8.38% and SMA200 by+0.99%.
Stochastic %K and %D was 6.90% and 5.30% and the average true range (ATR) pointed at 0.21. The RSI (14) points at 46.38%, while the 14-day stochastic is at 14.13% with the period’s ATR at 0.22. The stock’s 9-day MACD Oscillator is pointing at -0.11 and -0.21 on the 14-day charts.
Analyst Ratings
In the most recent analyst report for Berry Corp (NASDAQ: BRY), Piper Sandler downgraded it to a Neutral rating. They previously had an Overweight rating on the stock. Analysts offering their rating for BRY stock have a consensus rating for the stock as Hold. Currently, 0 brokerage advisors rate BRY as a “sell,”, while 4 advise that investors “Hold.” 0 analysts have rated the stock as underweight. 2 rates the stock as overweight while 0 have offered a “buy” rating.
What is BRY’s price target for the next 12 months?
Analysts have a consensus price target ranging from a low of $8.00 and a high of $13.00, with their median price target at $9.00. Looking at these predictions, the average price target given by analysts is for Berry Corp (BRY) stock is $10.00.
