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

StockNews.com began coverage on shares of Barnwell Industries (NYSE:BRN) in a report published on Monday morning. The brokerage issued a hold rating on the stock.

Barnwell Industries Stock Up 1.1 %

BRN opened at $2.23 on Monday. The firm’s 50-day moving average price is $2.29 and its 200-day moving average price is $2.48. The company has a market cap of $22.32 million, a P/E ratio of -6.74 and a beta of 0.09. Barnwell Industries has a 52-week low of $2.06 and a 52-week high of $3.20.

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

Institutional Trading of Barnwell Industries

An institutional investor recently raised its position in Barnwell Industries stock. Renaissance Technologies LLC increased its position in shares of Barnwell Industries, Inc. (NYSE:BRN) by 1.9% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 355,534 shares of the company’s stock after purchasing an additional 6,612 shares during the quarter. 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 hedge funds and other 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.