StockNews.com Initiates Coverage on Barnwell Industries (NYSE:BRN)

Equities research analysts at StockNews.com initiated coverage on shares of Barnwell Industries (NYSE:BRN) in a research report issued on Sunday. The firm set a “hold” rating on the stock.

Barnwell Industries Stock Down 2.6 %

Shares of BRN stock opened at $1.89 on Friday. Barnwell Industries has a 12 month low of $1.80 and a 12 month high of $3.20. The stock has a 50 day moving average of $2.14 and a 200-day moving average of $2.38. The firm has a market cap of $18.95 million, a PE ratio of -4.97 and a beta of 0.14.

Barnwell Industries (NYSE:BRN) last issued its earnings results on Tuesday, August 13th. The company reported ($0.12) earnings per share for the quarter. The business had revenue of $5.53 million for the quarter. Barnwell Industries had a negative net margin of 15.55% and a negative return on equity of 22.12%.

Institutional Investors Weigh In On Barnwell Industries

An institutional investor recently raised its position in Barnwell Industries stock. Renaissance Technologies LLC raised its stake in Barnwell Industries, Inc. (NYSE:BRN) by 1.9% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 355,534 shares of the company’s stock after buying an additional 6,612 shares during the quarter. Renaissance Technologies LLC owned about 3.55% of Barnwell Industries worth $836,000 at the end of the most recent reporting period. Hedge funds and other institutional investors own 40.71% of the company’s 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.