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

StockNews.com began coverage on shares of Barnwell Industries (NYSE:BRN) in a report released on Friday. The brokerage issued a hold rating on the stock.

Barnwell Industries Price Performance

NYSE:BRN opened at $1.99 on Friday. Barnwell Industries has a one year low of $1.87 and a one year high of $3.20. The company has a market cap of $19.96 million, a PE ratio of -5.97 and a beta of 0.10. The firm’s 50 day simple moving average is $2.22 and its 200 day simple moving average is $2.43.

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

Hedge Funds Weigh In On Barnwell Industries

A hedge fund recently raised its stake 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 disclosure with the Securities and Exchange Commission. The fund owned 355,534 shares of the company’s stock after acquiring 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 SEC filing. 40.71% of the stock is currently owned by 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.