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

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

Barnwell Industries Stock Down 1.6 %

BRN opened at $1.90 on Tuesday. The firm has a market capitalization of $19.10 million, a P/E ratio of -3.39 and a beta of 0.02. Barnwell Industries has a 12-month low of $1.31 and a 12-month high of $3.20. The stock has a fifty day moving average of $1.63 and a 200-day moving average of $2.00.

Hedge Funds Weigh In On Barnwell Industries

An institutional investor recently raised its position in Barnwell Industries stock. Renaissance Technologies LLC lifted its stake in Barnwell Industries, Inc. (NYSE:BRNFree Report) by 1.9% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 355,534 shares of the company’s stock after acquiring an additional 6,612 shares during the period. 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 currently owned by institutional investors.

Barnwell Industries Company Profile

(Get Free Report)

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.

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