Barnwell Industries (NYSE:BRN) Coverage Initiated by Analysts at StockNews.com

StockNews.com started coverage on shares of Barnwell Industries (NYSE:BRN) in a research note published on Sunday. The brokerage issued a hold rating on the stock.

Barnwell Industries Stock Up 4.7 %

BRN stock opened at $1.56 on Friday. Barnwell Industries has a 52-week low of $1.31 and a 52-week high of $3.20. The firm has a market cap of $15.68 million, a P/E ratio of -4.11 and a beta of 0.02. The company’s 50-day simple moving average is $1.67 and its 200-day simple moving average is $2.06.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Barnwell Industries stock. Renaissance Technologies LLC boosted its stake in shares of Barnwell Industries, Inc. (NYSE:BRN) by 1.9% in the second quarter, according to its most recent disclosure with the SEC. The firm owned 355,534 shares of the company’s stock after acquiring an additional 6,612 shares during the period. Renaissance Technologies LLC owned about 3.55% of Barnwell Industries worth $836,000 at the end of the most recent quarter. 40.71% of the stock is currently owned by hedge funds and other institutional investors.

Barnwell Industries Company Profile

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.