Barnwell Industries (NYSE:BRN) Research Coverage Started at StockNews.com

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

Barnwell Industries Trading Down 2.7 %

NYSE BRN opened at $1.78 on Wednesday. Barnwell Industries has a 12 month low of $1.31 and a 12 month high of $3.20. The stock’s 50 day moving average is $1.65 and its 200 day moving average is $1.98. The stock has a market cap of $17.90 million, a PE ratio of -3.18 and a beta of 0.02.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Barnwell Industries stock. Renaissance Technologies LLC lifted its holdings in Barnwell Industries, Inc. (NYSE:BRN) by 1.9% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 355,534 shares of the company’s stock after buying 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 reporting period. Institutional investors and hedge funds 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.