Barnwell Industries (NYSE:BRN) Now Covered by StockNews.com

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

Barnwell Industries Stock Performance

NYSE BRN opened at $1.63 on Wednesday. Barnwell Industries has a twelve month low of $1.61 and a twelve month high of $3.20. The stock has a market cap of $16.35 million, a price-to-earnings ratio of -4.29 and a beta of 0.07. The firm’s 50 day moving average price is $1.94 and its two-hundred day moving average price is $2.24.

Hedge Funds Weigh In On Barnwell Industries

An institutional investor recently raised its position in Barnwell Industries stock. Renaissance Technologies LLC boosted its position in shares of Barnwell Industries, Inc. (NYSE:BRN) by 1.9% during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor 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 at the end of the most recent reporting period. 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.