Barnwell Industries (NYSE:BRN) Now Covered by Analysts at StockNews.com

Investment analysts at StockNews.com initiated coverage on shares of Barnwell Industries (NYSE:BRN) in a research note issued to investors on Sunday. The brokerage set a “hold” rating on the stock.

Barnwell Industries Stock Performance

Shares of Barnwell Industries stock opened at $1.49 on Friday. The business’s 50 day moving average price is $1.68 and its 200 day moving average price is $2.07. The company has a market cap of $14.98 million, a price-to-earnings ratio of -3.92 and a beta of 0.07. Barnwell Industries has a one year low of $1.31 and a one year high of $3.20.

Hedge Funds Weigh In On Barnwell Industries

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

Barnwell Industries Company Profile

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.