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

StockNews.com assumed coverage on shares of Barnwell Industries (NYSE:BRN) in a research note issued on Wednesday. The firm set a “hold” rating on the stock.

Barnwell Industries Price Performance

BRN stock opened at $2.25 on Wednesday. The business has a 50 day simple moving average of $2.28 and a 200-day simple moving average of $2.47. The firm has a market capitalization of $22.56 million, a PE ratio of -6.82 and a beta of 0.10. Barnwell Industries has a 1 year low of $2.06 and a 1 year high of $3.20.

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

Hedge Funds Weigh In On Barnwell Industries

An institutional investor recently raised its position in Barnwell Industries stock. Renaissance Technologies LLC lifted its holdings in shares of Barnwell Industries, Inc. (NYSE:BRN) by 1.9% during the 2nd quarter, according to its most recent disclosure with the 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 about 3.55% of Barnwell Industries worth $836,000 as of its most recent filing with the SEC. 40.71% of the stock is currently owned by hedge funds and other institutional investors.

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.