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

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

Barnwell Industries Trading Down 8.7 %

NYSE BRN opened at $1.43 on Friday. The company has a 50-day moving average price of $1.72 and a two-hundred day moving average price of $2.09. Barnwell Industries has a 52 week low of $1.31 and a 52 week high of $3.20. The stock has a market cap of $14.33 million, a price-to-earnings ratio of -3.75 and a beta of 0.07.

Institutional Trading of Barnwell Industries

An institutional investor recently raised its position in Barnwell Industries stock. Renaissance Technologies LLC boosted its holdings in Barnwell Industries, Inc. (NYSE:BRN) by 1.9% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 355,534 shares of the company’s stock after buying an additional 6,612 shares during the quarter. Renaissance Technologies LLC owned 3.55% of Barnwell Industries worth $836,000 as of its most recent SEC filing. 40.71% of the stock is currently owned by hedge funds and other 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.