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

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

Barnwell Industries Price Performance

NYSE:BRN opened at $1.83 on Wednesday. The stock has a market cap of $18.43 million, a P/E ratio of -3.27 and a beta of 0.02. The company has a fifty day moving average price of $1.65 and a 200 day moving average price of $1.98. Barnwell Industries has a one year low of $1.31 and a one year high of $3.20.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Barnwell Industries stock. Renaissance Technologies LLC boosted its stake in Barnwell Industries, Inc. (NYSE:BRN) by 1.9% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). 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 at the end of the most recent quarter. 40.71% of the stock is currently owned by institutional investors.

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.