Barnwell Industries (NYSE:BRN) Now Covered by StockNews.com

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

Barnwell Industries Stock Down 2.2 %

Shares of NYSE:BRN opened at $2.20 on Monday. The company has a market capitalization of $22.06 million, a price-to-earnings ratio of -6.67 and a beta of 0.09. The company has a 50 day moving average of $2.29 and a two-hundred day moving average of $2.48. Barnwell Industries has a 52-week low of $2.06 and a 52-week high of $3.20.

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

Hedge Funds Weigh In On Barnwell Industries

A hedge fund recently raised its stake in Barnwell Industries stock. Renaissance Technologies LLC increased its position in Barnwell Industries, Inc. (NYSE:BRN) by 1.9% in the 2nd quarter, according to the company in its most recent Form 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 quarter. Renaissance Technologies LLC owned about 3.55% of Barnwell Industries worth $836,000 at the end of the most recent reporting period. 40.71% of the stock is owned by institutional investors and hedge funds.

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.