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

StockNews.com initiated coverage on shares of Barnwell Industries (NYSE:BRN) in a research report report published on Monday. The firm issued a hold rating on the stock.

Barnwell Industries Price Performance

Barnwell Industries stock opened at $1.73 on Monday. The firm has a 50-day moving average of $2.07 and a 200-day moving average of $2.33. The company has a market cap of $17.35 million, a price-to-earnings ratio of -4.50 and a beta of 0.14. Barnwell Industries has a one year low of $1.62 and a one year high of $3.20.

Hedge Funds Weigh In On Barnwell Industries

A hedge fund recently raised its stake in Barnwell Industries stock. Renaissance Technologies LLC raised its position in Barnwell Industries, Inc. (NYSE:BRN) by 1.9% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 355,534 shares of the company’s stock after acquiring an additional 6,612 shares during the quarter. Renaissance Technologies LLC owned approximately 3.55% of Barnwell Industries worth $836,000 at the end of the most recent reporting period. 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.