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

StockNews.com initiated coverage on shares of Barnwell Industries (NYSE:BRN) in a research note issued to investors on Wednesday morning. The brokerage issued a hold rating on the stock.

Barnwell Industries Price Performance

NYSE BRN opened at $2.21 on Wednesday. The firm’s fifty day moving average price is $2.28 and its 200 day moving average price is $2.47. The company has a market capitalization of $22.17 million, a price-to-earnings ratio of -5.82 and a beta of 0.10. Barnwell Industries has a 12 month low of $2.06 and a 12 month high of $3.20.

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

Hedge Funds Weigh In On Barnwell Industries

A hedge fund recently raised its stake in Barnwell Industries stock. Renaissance Technologies LLC boosted its stake in Barnwell Industries, Inc. (NYSE:BRN) by 1.9% in the second quarter, according to the company in its most recent disclosure with the SEC. 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 about 3.55% of Barnwell Industries worth $836,000 as of its most recent filing with the SEC. 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.