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

StockNews.com initiated coverage on shares of Barnwell Industries (NYSE:BRN) in a research note published on Sunday morning. The firm issued a hold rating on the stock.

Barnwell Industries Price Performance

Shares of BRN stock opened at $1.56 on Friday. The business has a fifty day moving average of $1.67 and a 200 day moving average of $2.06. Barnwell Industries has a 1 year low of $1.31 and a 1 year high of $3.20. The firm has a market capitalization of $15.68 million, a price-to-earnings ratio of -4.11 and a beta of 0.02.

Hedge Funds Weigh In On Barnwell Industries

An institutional investor recently raised its position in Barnwell Industries stock. Renaissance Technologies LLC grew its holdings in Barnwell Industries, Inc. (NYSE:BRN) by 1.9% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (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 about 3.55% of Barnwell Industries worth $836,000 at the end of the most recent quarter. Institutional investors and hedge funds 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.