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

Investment analysts at StockNews.com initiated coverage on shares of Barnwell Industries (NYSE:BRNGet Free Report) in a research note issued to investors on Thursday. The brokerage set a “hold” rating on the stock.

Barnwell Industries Price Performance

Barnwell Industries stock opened at $2.28 on Thursday. The business has a 50 day moving average of $2.37 and a 200-day moving average of $2.48. Barnwell Industries has a 1 year low of $1.89 and a 1 year high of $3.10. The company has a market capitalization of $22.87 million, a P/E ratio of -8.44 and a beta of 0.19.

Barnwell Industries (NYSE:BRNGet Free Report) last announced its earnings results on Monday, February 12th. The company reported ($0.07) EPS for the quarter. Barnwell Industries had a negative net margin of 11.35% and a negative return on equity of 14.70%. The company had revenue of $6.16 million during the quarter.

Insider Transactions at Barnwell Industries

In related news, Director Joshua Horowitz acquired 14,000 shares of Barnwell Industries stock in a transaction dated Friday, December 22nd. The stock was bought at an average price of $2.38 per share, with a total value of $33,320.00. Following the transaction, the director now directly owns 241,517 shares in the company, valued at approximately $574,810.46. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Insiders purchased a total of 27,411 shares of company stock valued at $63,715 in the last quarter. 16.30% of the stock is currently owned by company insiders.

Institutional Trading of Barnwell Industries

Several hedge funds have recently bought and sold shares of BRN. Acadian Asset Management LLC grew its position in Barnwell Industries by 145.1% in the 1st quarter. Acadian Asset Management LLC now owns 40,745 shares of the company’s stock valued at $104,000 after purchasing an additional 24,118 shares during the period. Dimensional Fund Advisors LP acquired a new stake in Barnwell Industries in the 1st quarter valued at $78,000. Renaissance Technologies LLC grew its position in Barnwell Industries by 15.0% in the 1st quarter. Renaissance Technologies LLC now owns 637,622 shares of the company’s stock valued at $1,639,000 after purchasing an additional 83,286 shares during the period. Two Sigma Investments LP acquired a new stake in Barnwell Industries in the 3rd quarter valued at $40,000. Finally, Stilwell Value LLC acquired a new stake in Barnwell Industries in the 1st quarter valued at $220,000. Institutional investors and hedge funds own 9.38% of the company’s stock.

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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