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

Research analysts at StockNews.com initiated coverage on shares of Barnwell Industries (NYSE:BRN) in a research report issued to clients and investors on Tuesday. The firm set a “hold” rating on the stock.

Barnwell Industries Stock Up 1.8 %

NYSE BRN opened at $2.26 on Tuesday. The firm’s 50 day moving average is $2.29 and its 200-day moving average is $2.47. The company has a market capitalization of $22.66 million, a PE ratio of -6.85 and a beta of 0.09. Barnwell Industries has a 12-month low of $2.06 and a 12-month high of $3.20.

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

Institutional Inflows and Outflows

An institutional investor recently raised its position in Barnwell Industries stock. Renaissance Technologies LLC increased its position in Barnwell Industries, Inc. (NYSE:BRN) by 1.9% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm 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 as of its most recent SEC filing. 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.