Barnwell Industries (NYSE:BRN) Receives New Coverage from Analysts at StockNews.com

Equities researchers at StockNews.com initiated coverage on shares of Barnwell Industries (NYSE:BRN) in a report issued on Friday. The firm set a “hold” rating on the stock.

Barnwell Industries Trading Down 2.0 %

NYSE:BRN opened at $1.95 on Friday. The company has a market cap of $19.55 million, a price-to-earnings ratio of -5.91 and a beta of 0.10. Barnwell Industries has a twelve month low of $1.87 and a twelve month high of $3.20. The stock has a fifty day simple moving average of $2.23 and a 200-day simple moving average of $2.44.

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

Institutional Trading of Barnwell Industries

An institutional investor recently raised its position in Barnwell Industries stock. Renaissance Technologies LLC raised its position in shares of Barnwell Industries, Inc. (NYSE:BRN) by 1.9% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. 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 about 3.55% of Barnwell Industries worth $836,000 as of its most recent filing with the Securities & Exchange Commission. 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.