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

Research analysts at StockNews.com started coverage on shares of Barnwell Industries (NYSE:BRN) in a research report issued on Friday. The brokerage set a “hold” rating on the stock.

Barnwell Industries Trading Up 2.4 %

Shares of NYSE BRN opened at $1.47 on Friday. The stock has a market capitalization of $14.69 million, a price-to-earnings ratio of -3.86 and a beta of 0.07. Barnwell Industries has a 12-month low of $1.42 and a 12-month high of $3.20. The firm’s 50-day moving average price is $1.80 and its 200-day moving average price is $2.15.

Institutional Trading of Barnwell Industries

A hedge fund recently raised its stake in Barnwell Industries stock. Renaissance Technologies LLC increased its stake in shares of Barnwell Industries, Inc. (NYSE:BRN) by 1.9% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund 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 as of its most recent SEC filing. Hedge funds and other institutional investors 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.