Barnwell Industries (NYSE:BRN) Now Covered by Analysts at StockNews.com

Equities research analysts at StockNews.com initiated coverage on shares of Barnwell Industries (NYSE:BRN) in a research note issued to investors on Thursday. The brokerage set a “hold” rating on the stock.

Barnwell Industries Price Performance

Shares of BRN stock opened at $2.04 on Thursday. The stock has a market cap of $20.41 million, a P/E ratio of -6.17 and a beta of 0.10. Barnwell Industries has a one year low of $2.00 and a one year high of $3.20. The stock has a fifty day moving average price of $2.27 and a 200 day moving average price of $2.46.

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

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Barnwell Industries stock. Renaissance Technologies LLC boosted its stake in shares of Barnwell Industries, Inc. (NYSE:BRN) by 1.9% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 355,534 shares of the company’s stock after acquiring an additional 6,612 shares during the quarter. Renaissance Technologies LLC owned 3.55% of Barnwell Industries worth $836,000 as of its most recent SEC filing. Institutional investors 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.