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

StockNews.com began coverage on shares of Barnwell Industries (NYSE:BRN) in a research report sent to investors on Sunday. The firm issued a hold rating on the stock.

Barnwell Industries Price Performance

Shares of NYSE:BRN opened at $1.70 on Friday. The firm has a market capitalization of $17.05 million, a PE ratio of -4.58 and a beta of 0.14. Barnwell Industries has a 1 year low of $1.62 and a 1 year high of $3.20. The firm’s 50-day moving average is $2.12 and its two-hundred day moving average is $2.37.

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

Hedge Funds Weigh In On Barnwell Industries

An institutional investor recently raised its position in Barnwell Industries stock. Renaissance Technologies LLC raised its holdings in Barnwell Industries, Inc. (NYSE:BRN) by 1.9% during the second quarter, according to the company in 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 buying an additional 6,612 shares during the period. Renaissance Technologies LLC owned about 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.

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.