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

StockNews.com started coverage on shares of Barnwell Industries (NYSE:BRN) in a report issued on Sunday. The firm set a “hold” rating on the stock.

Barnwell Industries Stock Performance

Shares of NYSE BRN opened at $2.20 on Friday. Barnwell Industries has a 52-week low of $2.06 and a 52-week high of $3.20. The company’s 50 day moving average price is $2.30 and its 200-day moving average price is $2.48. The company has a market capitalization of $22.07 million, a P/E ratio of -6.67 and a beta of 0.09.

Barnwell Industries (NYSE:BRN) last released its 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 company had revenue of $5.53 million for the quarter.

Institutional Trading of Barnwell Industries

A hedge fund recently raised its stake in Barnwell Industries stock. Renaissance Technologies LLC grew its stake in Barnwell Industries, Inc. (NYSE:BRN) by 1.9% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 355,534 shares of the company’s stock after buying 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. Institutional investors and hedge funds own 40.71% of the company’s stock.

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.