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

StockNews.com assumed coverage on shares of New Concept Energy (NYSE:GBR) in a research note published on Friday. The brokerage issued a sell rating on the stock.

New Concept Energy Price Performance

Shares of New Concept Energy stock opened at $1.73 on Friday. New Concept Energy has a 12 month low of $0.95 and a 12 month high of $1.82. The stock’s fifty day simple moving average is $1.47 and its 200 day simple moving average is $1.21.

New Concept Energy (NYSE:GBR) last issued its quarterly earnings data on Thursday, May 9th. The company reported $0.01 EPS for the quarter. The business had revenue of $0.04 million for the quarter. New Concept Energy had a negative return on equity of 0.79% and a negative net margin of 25.17%.

Hedge Funds Weigh In On New Concept Energy

A hedge fund recently bought a new stake in New Concept Energy stock. PFG Investments LLC bought a new position in shares of New Concept Energy, Inc. (NYSE:GBR) in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 90,200 shares of the company’s stock, valued at approximately $95,000.

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.