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 Saturday. The firm issued a hold rating on the stock.

Barnwell Industries Trading Up 1.9 %

NYSE BRN opened at $1.86 on Friday. Barnwell Industries has a 12 month low of $1.80 and a 12 month high of $3.20. The stock has a market cap of $18.66 million, a price-to-earnings ratio of -4.89 and a beta of 0.14. The company’s 50 day moving average is $2.17 and its two-hundred day moving average is $2.39.

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

Institutional Inflows and Outflows

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 – Free Report) 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 at the end of the most recent reporting period. 40.71% of the stock is currently owned by institutional investors and hedge funds.

Barnwell Industries Company Profile

(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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