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

by · The Cerbat Gem

StockNews.com started coverage on shares of Barnwell Industries (NYSE:BRN – Free Report) in a research report report published on Tuesday. The brokerage issued a hold rating on the stock.

Barnwell Industries Trading Down 1.3 %

Barnwell Industries stock opened at $2.22 on Tuesday. The company’s 50-day moving average price is $2.29 and its two-hundred day moving average price is $2.47. The stock has a market cap of $22.26 million, a price-to-earnings ratio of -6.73 and a beta of 0.10. Barnwell Industries has a 52 week low of $2.06 and a 52 week high of $3.20.

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

Institutional Trading of Barnwell Industries

A hedge fund recently raised its stake in Barnwell Industries stock. Renaissance Technologies LLC raised its stake in shares of Barnwell Industries, Inc. (NYSE:BRN – Free Report) by 1.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. 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 as of its most recent filing with the Securities and Exchange Commission. 40.71% of the stock is owned by institutional investors and hedge funds.

About Barnwell Industries

(Get Free Report)

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.

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