Barnwell Industries (NYSE:BRN) Earns Hold Rating from Analysts at StockNews.com

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

Barnwell Industries Stock Performance

Shares of BRN stock opened at $1.69 on Monday. Barnwell Industries has a 52 week low of $1.62 and a 52 week high of $3.20. The company’s 50 day moving average price is $2.06 and its two-hundred day moving average price is $2.32. The company has a market capitalization of $16.95 million, a P/E ratio of -4.45 and a beta of 0.14.

Institutional Trading of Barnwell Industries

An institutional investor recently raised its position in Barnwell Industries stock. Renaissance Technologies LLC increased its holdings in shares of Barnwell Industries, Inc. (NYSE:BRN) by 1.9% in the 2nd 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 purchasing 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. 40.71% of the stock is currently owned by institutional investors and hedge funds.

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.