Barnwell Industries (NYSE:BRN) Coverage Initiated at StockNews.com

Equities research analysts at StockNews.com started coverage on shares of Barnwell Industries (NYSE:BRN) in a report released on Monday. The firm set a “hold” rating on the stock.

Barnwell Industries Trading Down 1.2 %

Shares of BRN stock opened at $1.69 on Monday. Barnwell Industries has a 1 year low of $1.62 and a 1 year high of $3.20. The firm’s 50 day moving average is $2.06 and its 200-day moving average is $2.32. The firm has a market capitalization of $16.95 million, a price-to-earnings ratio of -4.45 and a beta of 0.14.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Barnwell Industries stock. Renaissance Technologies LLC grew its position in Barnwell Industries, Inc. (NYSE:BRN) by 1.9% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 355,534 shares of the company’s stock after buying 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. 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.