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

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

Barnwell Industries Price Performance

NYSE:BRN opened at $1.68 on Monday. The firm has a market cap of $16.85 million, a PE ratio of -4.42 and a beta of 0.14. Barnwell Industries has a 1-year low of $1.62 and a 1-year high of $3.20. The company has a 50-day moving average of $2.05 and a 200 day moving average of $2.32.

Hedge Funds Weigh In On Barnwell Industries

An institutional investor recently raised its position in Barnwell Industries stock. Renaissance Technologies LLC increased its stake in shares of Barnwell Industries, Inc. (NYSE:BRN) by 1.9% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 355,534 shares of the company’s stock after purchasing an additional 6,612 shares during the period. Renaissance Technologies LLC owned 3.55% of Barnwell Industries worth $836,000 as of its most recent filing with the Securities & Exchange Commission. Institutional investors and hedge funds 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.