Barnwell Industries (NYSE:BRN) Research Coverage Started at StockNews.com

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

Barnwell Industries Stock Performance

Barnwell Industries stock opened at $2.25 on Wednesday. Barnwell Industries has a 1 year low of $2.06 and a 1 year high of $3.20. The firm has a 50 day moving average price of $2.29 and a 200 day moving average price of $2.47. The company has a market cap of $22.56 million, a price-to-earnings ratio of -6.82 and a beta of 0.10.

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

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Barnwell Industries stock. Renaissance Technologies LLC raised its holdings in shares of 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 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 about 3.55% of Barnwell Industries worth $836,000 at the end of the most recent reporting period. 40.71% of the stock is owned by hedge funds and other institutional investors.

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.