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

StockNews.com initiated coverage on shares of Barnwell Industries (NYSE:BRN) in a research report sent to investors on Sunday. The brokerage issued a hold rating on the stock.

Barnwell Industries Stock Performance

Shares of BRN opened at $1.49 on Friday. The business’s 50-day moving average is $1.68 and its two-hundred day moving average is $2.07. The company has a market capitalization of $14.98 million, a P/E ratio of -3.92 and a beta of 0.07. Barnwell Industries has a fifty-two week low of $1.31 and a fifty-two week high of $3.20.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Barnwell Industries stock. Renaissance Technologies LLC lifted its position in Barnwell Industries, Inc. (NYSE:BRN) by 1.9% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). 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 as of its most recent filing with the Securities and Exchange Commission (SEC). 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.