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

Research analysts at StockNews.com initiated coverage on shares of Barnwell Industries (NYSE:BRN) in a research note issued on Tuesday. The firm set a “hold” rating on the stock.

Barnwell Industries Trading Down 1.6 %

Shares of NYSE BRN opened at $1.90 on Tuesday. Barnwell Industries has a 1-year low of $1.31 and a 1-year high of $3.20. The company has a 50-day moving average of $1.63 and a two-hundred day moving average of $2.00. The company has a market cap of $19.10 million, a PE ratio of -3.39 and a beta of 0.02.

Institutional Trading of Barnwell Industries

An institutional investor recently raised its position in Barnwell Industries stock. Renaissance Technologies LLC increased its holdings in shares of Barnwell Industries, Inc. (NYSE:BRN) by 1.9% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). 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 3.55% of Barnwell Industries worth $836,000 at the end of the most recent quarter. 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.