Barnwell Industries (NYSE:BRN) Earns Hold Rating from Analysts at StockNews.com

Equities researchers at StockNews.com started coverage on shares of Barnwell Industries (NYSE:BRN) in a note issued to investors on Sunday. The brokerage set a “hold” rating on the stock.

Barnwell Industries Price Performance

Barnwell Industries stock opened at $1.49 on Friday. Barnwell Industries has a fifty-two week low of $1.31 and a fifty-two week high of $3.20. The firm has a market cap of $14.98 million, a price-to-earnings ratio of -3.92 and a beta of 0.02. The firm has a fifty day moving average price of $1.68 and a two-hundred day moving average price of $2.06.

Institutional Inflows and Outflows

A hedge fund recently raised its position in Barnwell Industries stock. Renaissance Technologies LLC boosted its holdings in shares of Barnwell Industries, Inc. (NYSE:BRN) by 1.9% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 355,534 shares of the company’s stock after purchasing an additional 6,612 shares during the period. Renaissance Technologies LLC owned 3.55% of Barnwell Industries worth $836,000 as of its most recent SEC filing. 40.71% of the stock is owned by 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.