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

StockNews.com began coverage on shares of Barnwell Industries (NYSE:BRN) in a report issued on Saturday. The firm set a “hold” rating on the stock.

Barnwell Industries Price Performance

NYSE BRN opened at $1.56 on Friday. The company has a market cap of $15.68 million, a P/E ratio of -4.11 and a beta of 0.07. The stock has a 50-day moving average of $1.73 and a two-hundred day moving average of $2.10. Barnwell Industries has a 1-year low of $1.42 and a 1-year high of $3.20.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Barnwell Industries stock. Renaissance Technologies LLC increased its stake in shares of Barnwell Industries, Inc. (NYSE:BRN) by 1.9% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 355,534 shares of the company’s stock after purchasing 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. 40.71% of the stock is currently owned by institutional investors and hedge funds.

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.