Insider Buying: Shourie Rajath, Berry Corporation [BRY] Director invested 10,000 shares


The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Berry Corporation shares valued at $77,094 were purchased by Shourie Rajath on Dec 15. At $7.71 per share, Shourie Rajath acquired 10,000 shares. The insider’s holdings grew to 10,000 shares worth approximately $94400.0 following the completion of this transaction.

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Also, Shourie Rajath purchased 20,000 shares, netting a total of over 156,276 in proceeds. Following the buying of shares at $7.81 each, the insider now holds 20,000 shares.

Before that, Shourie Rajath had added 20,000 shares to its account. In a trade valued at $156,358, the Director bought Berry Corporation shares for $7.82 each. Upon closing the transaction, the insider’s holdings increased to 20,000 shares, worth approximately $0.19 million.

As published in their initiating research note from Jefferies on October 19, 2022, Berry Corporation [BRY] has been a Buy and the price target has been revised to $10. This represents a 5.6% premium over Wednesday’s closing price. Analysts at Piper Sandler upgraded the stock from ‘”a Neutral”‘ to ‘”an Overweight”‘ outlook in a report released in early April. As of April 14, 2021, KeyBanc Capital Markets has increased its “Sector weight” rating to a “an Overweight” for BRY. Earlier on March 09, 2021, Johnson Rice upgraded its rating. Their new recommendation was “a Buy” for BRY stock which previously was a “a Accumulate”.

Analyzing BRY Stock Performance

On Wednesday, Berry Corporation [NASDAQ: BRY] plunged -0.53% to $9.44. The stock’s lowest price that day was $9.27, but it reached a high of $9.48 in the same session. During the last five days, there has been a surge of approximately 0.96%. Over the course of the year, Berry Corporation shares have jumped approximately 18.00%. Shares of the company reached a 52-week high of $10.74 on 02/22/23 and a 52-week low of $7.43 on 01/05/23. A 50-day SMA is recorded $8.90, while a 200-day SMA reached $8.82. Nevertheless, trading volume fell to 1.03 million shares from 1.0 million shares the previous day.

Support And Resistance Levels for Berry Corporation (BRY)

According to the 24-hour chart, there is a support level at 9.31, which, if violated, would cause prices to drop to 9.19. In the upper region, resistance lies at 9.52. The next price resistance is at 9.61. RSI (Relative Strength Index) is 53.97 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.11, which suggests the price will decrease in the coming days. Percent R is at 66.33%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.

Is Berry Corporation subject to short interest?

Stocks of Berry Corporation saw a sharp steep in short interest on Jan 12, 2023 dropping by -0.34 million shares to 2.41 million. Data from Yahoo Finance shows that the short interest on Dec 14, 2022 was 2.75 million shares. A decline of -14.11% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 3.4 of the overall float, the days-to-cover ratio (short ratio) decline to 3.4.

Which companies own the most shares of Berry Corporation (BRY)?

According to Hotchkis & Wiley Capital Manageme filings, the company currently owns 8,185,190 shares, which is about 10.66% of the total BRY shares outstanding. The investor’s shares have appreciated by 972,470 from its previous 13-F filing of 7212720.0 shares. With the completion of the sale transaction, Oaktree Capital Management LP’s stake is now worth $62,532,400. Fidelity Management & Research Co acquire a 4.60% interest valued at $48.47 million while BlackRock Fund Advisors sold a -64,921 stake. A total of -4,485,046 shares of Berry Corporation were sold by AllianceBernstein LP during the quarter, and 184,647 were bought by The Vanguard Group, Inc. In its current portfolio, Dimensional Fund Advisors LP holds 2,911,689 shares valued at $26.79 million.


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