StockNews.com Begins Coverage on Barnwell Industries (NYSE:BRN)

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

Barnwell Industries Stock Up 2.3 %

NYSE BRN opened at $1.77 on Tuesday. The stock has a market capitalization of $17.75 million, a PE ratio of -4.66 and a beta of 0.14. Barnwell Industries has a 12-month low of $1.62 and a 12-month high of $3.20. The company has a 50 day moving average price of $1.99 and a two-hundred day moving average price of $2.28.

Institutional Trading of Barnwell Industries

An institutional investor recently raised its position in Barnwell Industries stock. Renaissance Technologies LLC boosted its holdings in Barnwell Industries, Inc. (NYSE:BRN) by 1.9% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 355,534 shares of the company’s stock after buying an additional 6,612 shares during the period. Renaissance Technologies LLC owned approximately 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.

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.