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

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

Barnwell Industries Trading Down 1.1 %

Shares of Barnwell Industries stock opened at $2.20 on Monday. Barnwell Industries has a 12-month low of $2.06 and a 12-month high of $3.20. The company has a market cap of $22.07 million, a P/E ratio of -6.67 and a beta of 0.09. The company’s fifty day simple moving average is $2.29 and its two-hundred day simple moving average is $2.48.

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

Institutional Trading of Barnwell Industries

A hedge fund recently raised its stake in Barnwell Industries stock. Renaissance Technologies LLC boosted its holdings in Barnwell Industries, Inc. (NYSE:BRN) by 1.9% in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 355,534 shares of the company’s stock after buying 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 quarter. 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.