StockNews.com Initiates Coverage on Barnwell Industries (NYSE:BRN)

StockNews.com assumed coverage on shares of Barnwell Industries (NYSE:BRN) in a research report issued to clients and investors on Sunday. The brokerage set a “hold” rating on the stock.

Barnwell Industries Trading Down 7.9 %

Shares of BRN opened at $1.74 on Friday. Barnwell Industries has a one year low of $1.72 and a one year high of $3.20. The company’s fifty day moving average price is $2.14 and its 200 day moving average price is $2.37.

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

Institutional Trading of Barnwell Industries

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% in the 2nd quarter, according to the company in its most recent disclosure 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 quarter. Renaissance Technologies LLC owned approximately 3.55% of Barnwell Industries worth $836,000 at the end of the most recent quarter. 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.