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

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

Barnwell Industries Trading Up 0.9 %

BRN stock opened at $1.71 on Friday. Barnwell Industries has a 1-year low of $1.62 and a 1-year high of $3.20. The stock has a 50-day moving average price of $2.10 and a 200-day moving average price of $2.36. The firm has a market cap of $17.10 million, a PE ratio of -4.49 and a beta of 0.14.

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 during the quarter.

Institutional Investors Weigh In On Barnwell Industries

An institutional investor recently raised its position in Barnwell Industries stock. Renaissance Technologies LLC grew its position in shares of Barnwell Industries, Inc. (NYSE:BRN) by 1.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 355,534 shares of the company’s stock after buying an additional 6,612 shares during the period. Renaissance Technologies LLC owned 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 hedge funds and other institutional investors.

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.