Barnwell Industries (NYSE:BRN) Coverage Initiated by Analysts at StockNews.com

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

Barnwell Industries Price Performance

Shares of BRN opened at $1.72 on Tuesday. The firm has a market capitalization of $17.20 million, a PE ratio of -4.51 and a beta of 0.14. The company’s 50-day moving average is $2.00 and its 200-day moving average is $2.28. Barnwell Industries has a fifty-two week low of $1.62 and a fifty-two week high of $3.20.

Hedge Funds Weigh In On Barnwell Industries

A hedge fund recently raised its stake in Barnwell Industries stock. Renaissance Technologies LLC increased its holdings in shares of Barnwell Industries, Inc. (NYSE:BRN) by 1.9% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 355,534 shares of the company’s stock after acquiring an additional 6,612 shares during the quarter. Renaissance Technologies LLC owned about 3.55% of Barnwell Industries worth $836,000 as of its most recent filing with the SEC. 40.71% of the stock is owned by hedge funds and other institutional investors.

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.