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

StockNews.com initiated coverage on shares of Barnwell Industries (NYSE:BRN) in a research report sent to investors on Friday morning. The firm issued a hold rating on the stock.

Barnwell Industries Stock Performance

NYSE:BRN opened at $2.52 on Friday. The company has a fifty day moving average of $2.32 and a two-hundred day moving average of $2.48. The stock has a market capitalization of $25.27 million, a PE ratio of -7.64 and a beta of 0.15. Barnwell Industries has a fifty-two week low of $2.06 and a fifty-two week high of $3.20.

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

Institutional Investors Weigh In On Barnwell Industries

A hedge fund recently raised its stake in Barnwell Industries stock. Renaissance Technologies LLC raised its holdings in shares of Barnwell Industries, Inc. (NYSE:BRN) by 1.9% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor 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 as of its most recent SEC filing. 40.71% of the stock is currently 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.