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

StockNews.com started coverage on shares of Barnwell Industries (NYSE:BRN) in a research note issued to investors on Wednesday. The firm issued a hold rating on the stock.

Barnwell Industries Stock Performance

Shares of Barnwell Industries stock opened at $2.21 on Wednesday. The company has a market capitalization of $22.17 million, a PE ratio of -5.82 and a beta of 0.10. The company has a 50-day simple moving average of $2.28 and a two-hundred day simple moving average of $2.47. Barnwell Industries has a one year low of $2.06 and a one year high of $3.20.

Barnwell Industries (NYSE:BRN) last announced its earnings results on Tuesday, August 13th. The company reported ($0.12) 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 lifted its holdings in shares of Barnwell Industries, Inc. (NYSE:BRN) by 1.9% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 355,534 shares of the company’s stock after acquiring an additional 6,612 shares during the period. Renaissance Technologies LLC owned approximately 3.55% of Barnwell Industries worth $836,000 at the end of the most recent quarter. 40.71% of the stock is currently owned by 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.