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

StockNews.com assumed coverage on shares of Barnwell Industries (NYSE:BRN) in a report issued on Friday morning. The firm issued a hold rating on the stock.

Barnwell Industries Price Performance

BRN opened at $1.52 on Friday. Barnwell Industries has a fifty-two week low of $1.42 and a fifty-two week high of $3.20. The company’s 50 day moving average price is $1.78 and its two-hundred day moving average price is $2.14. The firm has a market capitalization of $15.24 million, a price-to-earnings ratio of -4.00 and a beta of 0.07.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Barnwell Industries stock. Renaissance Technologies LLC raised its position in shares of Barnwell Industries, Inc. (NYSE:BRN) by 1.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund 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 SEC filing. Institutional investors and hedge funds 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.