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

Equities researchers at StockNews.com initiated coverage on shares of Barnwell Industries (NYSE:BRN) in a research report issued on Friday. The brokerage set a “hold” rating on the stock.

Barnwell Industries Price Performance

NYSE:BRN opened at $2.03 on Friday. The firm’s 50-day moving average price is $2.22 and its 200-day moving average price is $2.43. The company has a market capitalization of $20.36 million, a PE ratio of -6.15 and a beta of 0.10. Barnwell Industries has a 1-year low of $1.87 and a 1-year high of $3.20.

Barnwell Industries (NYSE:BRN) last released its earnings results on Tuesday, August 13th. The company reported ($0.12) earnings per share for the quarter. The business 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 Trading of Barnwell Industries

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% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 355,534 shares of the company’s stock after purchasing an additional 6,612 shares during the quarter. 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 owned by 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.