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

StockNews.com started coverage on shares of Barnwell Industries (NYSE:BRN) in a research note published on Wednesday. The brokerage issued a hold rating on the stock.

Barnwell Industries Trading Down 0.6 %

BRN stock opened at $1.63 on Wednesday. The firm has a market cap of $16.35 million, a PE ratio of -4.29 and a beta of 0.07. Barnwell Industries has a 1 year low of $1.61 and a 1 year high of $3.20. The company has a fifty day simple moving average of $1.94 and a 200 day simple moving average of $2.24.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Barnwell Industries stock. Renaissance Technologies LLC raised its stake in shares of Barnwell Industries, Inc. (NYSE:BRN) by 1.9% during the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 355,534 shares of the company’s stock after purchasing an additional 6,612 shares during the quarter. Renaissance Technologies LLC owned 3.55% of Barnwell Industries worth $836,000 as of its most recent filing with the SEC. 40.71% of the stock is owned by hedge funds and other 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.