Barnwell Industries (NYSE:BRN) Earns Hold Rating from Analysts at StockNews.com

StockNews.com began coverage on shares of Barnwell Industries (NYSE:BRN) in a research note released on Wednesday. The firm issued a hold rating on the stock.

Barnwell Industries Stock Performance

NYSE BRN opened at $1.55 on Wednesday. The stock has a 50 day moving average price of $1.92 and a 200-day moving average price of $2.23. Barnwell Industries has a one year low of $1.50 and a one year high of $3.20. The company has a market capitalization of $15.54 million, a P/E ratio of -4.08 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 raised its position in shares of Barnwell Industries, Inc. (NYSE:BRN) by 1.9% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 355,534 shares of the company’s stock after acquiring an additional 6,612 shares during the period. Renaissance Technologies LLC owned approximately 3.55% of Barnwell Industries worth $836,000 as of its most recent filing with the Securities & Exchange Commission. 40.71% of the stock is currently owned by institutional investors and hedge funds.

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.