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

StockNews.com assumed coverage on shares of Barnwell Industries (NYSE:BRN) in a report released on Monday. The brokerage issued a hold rating on the stock.

Barnwell Industries Price Performance

Barnwell Industries stock opened at $1.66 on Monday. Barnwell Industries has a one year low of $1.31 and a one year high of $3.20. The business’s fifty day moving average is $1.65 and its 200 day moving average is $2.03. The stock has a market capitalization of $16.69 million, a PE ratio of -4.37 and a beta of 0.02.

Institutional Inflows and Outflows

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

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.