New Concept Energy (NYSE:GBR) Now Covered by Analysts at StockNews.com

Equities research analysts at StockNews.com began coverage on shares of New Concept Energy (NYSE:GBR) in a report released on Thursday. The firm set a “sell” rating on the stock.

New Concept Energy Trading Down 0.8 %

Shares of GBR stock opened at $1.17 on Thursday. The company’s fifty day simple moving average is $1.23 and its 200-day simple moving average is $1.35. New Concept Energy has a 52 week low of $0.95 and a 52 week high of $1.82. The company has a market cap of $6.00 million, a PE ratio of -39.00 and a beta of 0.30.

New Concept Energy (NYSE:GBR) last released its quarterly earnings results on Tuesday, August 13th. The company reported $0.01 earnings per share (EPS) for the quarter. New Concept Energy had a negative net margin of 18.62% and a negative return on equity of 0.59%. The firm had revenue of $0.04 million for the quarter.

Insiders Place Their Bets

In other news, major shareholder Realty Advisors Inc sold 250,000 shares of New Concept Energy stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $1.30, for a total value of $325,000.00. Following the completion of the transaction, the insider now directly owns 1,144,934 shares of the company’s stock, valued at approximately $1,488,414.20. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 2.10% of the stock is owned by company insiders.

Institutional Trading of New Concept Energy

An institutional investor recently raised its position in New Concept Energy stock. PFG Investments LLC increased its holdings in New Concept Energy, Inc. (NYSE:GBR) by 69.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 152,600 shares of the company’s stock after purchasing an additional 62,400 shares during the quarter. PFG Investments LLC owned 2.97% of New Concept Energy worth $244,000 at the end of the most recent quarter.

About New Concept Energy

New Concept Energy, Inc engages in real estate rental business. The company owns approximately 190 acres of land located in Parkersburg West Virginia. It also provides advisory and management services for an independent oil and gas company. The company was formerly known as CabelTel International Corporation and changed its name to New Concept Energy, Inc in May 2008.