Barnwell Industries (NYSE:BRN) Receives New Coverage from Analysts at StockNews.com

StockNews.com began coverage on shares of Barnwell Industries (NYSE:BRN) in a report issued on Monday morning. The firm issued a hold rating on the stock.

Barnwell Industries Stock Performance

Shares of NYSE:BRN opened at $2.25 on Monday. Barnwell Industries has a 1-year low of $2.06 and a 1-year high of $3.20. The company’s fifty day moving average is $2.30 and its two-hundred day moving average is $2.48. The stock has a market capitalization of $22.56 million, a price-to-earnings ratio of -6.82 and a beta of 0.09.

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

Hedge Funds Weigh In On Barnwell Industries

A hedge fund recently raised its stake in Barnwell Industries stock. Renaissance Technologies LLC grew its stake in shares of Barnwell Industries, Inc. (NYSE:BRN) by 1.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor 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 filing with the Securities and Exchange Commission. 40.71% of the stock is owned by institutional investors and hedge funds.

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.