Acadian Asset Management LLC Trims Position in Barnwell Industries, Inc. (NYSE:BRN)

Acadian Asset Management LLC decreased its holdings in shares of Barnwell Industries, Inc. (NYSE:BRN) by 61.1% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 16,041 shares of the company’s stock after selling 25,190 shares during the period. Acadian Asset Management LLC owned approximately 0.16% of Barnwell Industries worth $37,000 at the end of the most recent quarter.

Barnwell Industries Trading Up 4.5 %

NYSE BRN opened at $2.30 on Friday. The stock has a market capitalization of $23.06 million, a price-to-earnings ratio of -6.97 and a beta of 0.09. The business’s 50 day moving average is $2.29 and its two-hundred day moving average is $2.48. Barnwell Industries, Inc. has a 12-month low of $2.06 and a 12-month high of $3.20.

Barnwell Industries (NYSE:BRN) last announced its quarterly earnings data 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.

Wall Street Analysts Forecast Growth

Separately, StockNews.com started coverage on shares of Barnwell Industries in a report on Sunday, September 15th. They issued a “hold” rating on the 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.