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

Stock analysts at StockNews.com assumed coverage on shares of Barnwell Industries (NYSE:BRN) in a report released on Sunday. The firm set a “hold” rating on the stock.

Barnwell Industries Price Performance

Shares of NYSE BRN opened at $1.49 on Friday. The stock’s 50 day moving average price is $1.68 and its two-hundred day moving average price is $2.06. Barnwell Industries has a 52-week low of $1.31 and a 52-week high of $3.20. The stock has a market capitalization of $14.98 million, a P/E ratio of -3.92 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 position in Barnwell Industries, Inc. (NYSE:BRN) by 1.9% in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 355,534 shares of the company’s stock after acquiring an additional 6,612 shares during the quarter. Renaissance Technologies LLC owned approximately 3.55% of Barnwell Industries worth $836,000 as of its most recent filing with the SEC. 40.71% of the stock is currently owned by institutional investors and hedge funds.

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.