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

StockNews.com started coverage on shares of Barnwell Industries (NYSE:BRN) in a research report sent to investors on Tuesday morning. The firm issued a hold rating on the stock.

Barnwell Industries Stock Performance

BRN opened at $1.90 on Tuesday. The stock has a market capitalization of $19.10 million, a P/E ratio of -3.39 and a beta of 0.02. The company’s 50-day simple moving average is $1.63 and its two-hundred day simple moving average is $2.00. Barnwell Industries has a 52-week low of $1.31 and a 52-week 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 lifted its holdings in Barnwell Industries, Inc. (NYSE:BRN) by 1.9% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 355,534 shares of the company’s stock after purchasing 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. 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.