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

StockNews.com initiated coverage on shares of Barnwell Industries (NYSE:BRN) in a research note issued to investors on Wednesday. The brokerage set a “hold” rating on the stock.

Barnwell Industries Trading Up 1.7 %

Shares of NYSE:BRN opened at $1.83 on Wednesday. Barnwell Industries has a 12-month low of $1.31 and a 12-month high of $3.20. The business has a 50-day moving average price of $1.64 and a 200 day moving average price of $1.98. The company has a market capitalization of $18.39 million, a price-to-earnings ratio of -3.27 and a beta of 0.02.

Institutional Investors Weigh In On Barnwell Industries

A hedge fund recently raised its stake in Barnwell Industries stock. Renaissance Technologies LLC grew its position in 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 purchasing an additional 6,612 shares during the quarter. Renaissance Technologies LLC owned approximately 3.55% of Barnwell Industries worth $836,000 at the end of the most recent reporting period. Institutional investors 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.