StockNews.com Initiates Coverage on New Concept Energy (NYSE:GBR)

StockNews.com began coverage on shares of New Concept Energy (NYSE:GBR) in a research note issued on Wednesday. The firm set a “sell” rating on the stock.

New Concept Energy Stock Performance

Shares of NYSE:GBR opened at $1.22 on Wednesday. New Concept Energy has a one year low of $0.96 and a one year high of $1.82. The company has a market capitalization of $6.26 million, a PE ratio of -40.67 and a beta of 0.31. The stock has a fifty day moving average of $1.18 and a 200-day moving average of $1.23.

New Concept Energy Company Profile

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.