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

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

Barnwell Industries Price Performance

BRN opened at $1.52 on Friday. The business has a fifty day simple moving average of $1.78 and a 200 day simple moving average of $2.14. Barnwell Industries has a 1 year low of $1.42 and a 1 year high of $3.20. The company has a market capitalization of $15.24 million, a PE ratio of -4.00 and a beta of 0.07.

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% in the 2nd 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 at the end of the most recent reporting period. 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.