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

Investment analysts at StockNews.com assumed coverage on shares of Barnwell Industries (NYSE:BRN) in a research note issued on Monday. The firm set a “hold” rating on the stock.

Barnwell Industries Trading Down 4.8 %

Shares of NYSE BRN opened at $1.58 on Monday. The business has a 50-day moving average of $1.64 and a 200-day moving average of $2.02. The firm has a market capitalization of $15.89 million, a price-to-earnings ratio of -4.16 and a beta of 0.02. Barnwell Industries has a 12 month low of $1.31 and a 12 month 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 boosted its position in shares of Barnwell Industries, Inc. (NYSE:BRN) by 1.9% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 355,534 shares of the company’s stock after acquiring an additional 6,612 shares during the period. Renaissance Technologies LLC owned 3.55% of Barnwell Industries worth $836,000 at the end of the most recent quarter. 40.71% of the stock is currently owned by institutional investors and hedge funds.

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.