Barnwell Industries (NYSE:BRN) Now Covered by StockNews.com

Investment analysts at StockNews.com assumed coverage on shares of Barnwell Industries (NYSE:BRN) in a research note issued to investors on Friday. The firm set a “hold” rating on the stock.

Barnwell Industries Stock Up 3.1 %

Shares of BRN stock opened at $2.52 on Friday. Barnwell Industries has a 12 month low of $2.06 and a 12 month high of $3.20. The firm has a market cap of $25.27 million, a price-to-earnings ratio of -7.64 and a beta of 0.15. The stock has a 50-day moving average price of $2.32 and a 200 day moving average price of $2.47.

Barnwell Industries (NYSE:BRN) last posted its quarterly earnings results on Tuesday, August 13th. The company reported ($0.12) earnings per share for the quarter. Barnwell Industries had a negative return on equity of 18.20% and a negative net margin of 13.29%. The business had revenue of $5.53 million for the quarter.

Hedge Funds Weigh In On 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% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 355,534 shares of the company’s stock after acquiring an additional 6,612 shares during the quarter. Renaissance Technologies LLC owned about 3.55% of Barnwell Industries worth $836,000 as of its most recent SEC filing. Hedge funds and other 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.