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

Equities researchers at StockNews.com began coverage on shares of Barnwell Industries (NYSE:BRN) in a note issued to investors on Monday. The brokerage set a “hold” rating on the stock.

Barnwell Industries Stock Performance

Barnwell Industries stock opened at $1.64 on Monday. The company has a 50-day simple moving average of $1.65 and a 200-day simple moving average of $2.03. The firm has a market capitalization of $16.49 million, a P/E ratio of -4.32 and a beta of 0.02. 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

A hedge fund recently raised its stake in Barnwell Industries stock. Renaissance Technologies LLC boosted its stake in Barnwell Industries, Inc. (NYSE:BRN) by 1.9% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 355,534 shares of the company’s stock after buying 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 quarter. 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.