New Concept Energy (NYSE:GBR) Coverage Initiated by Analysts at StockNews.com

Stock analysts at StockNews.com initiated coverage on shares of New Concept Energy (NYSE:GBR) in a research note issued on Friday. The brokerage set a “sell” rating on the stock.

New Concept Energy Stock Performance

New Concept Energy stock opened at $1.15 on Friday. New Concept Energy has a 1-year low of $0.95 and a 1-year high of $1.82. The company has a fifty day simple moving average of $1.46 and a 200 day simple moving average of $1.32. The company has a market cap of $5.90 million, a P/E ratio of -38.33 and a beta of 0.30.

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

Insiders Place Their Bets

In related news, major shareholder Realty Advisors Inc sold 250,000 shares of the firm’s stock in a transaction on 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 $1,488,414.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 2.10% of the company’s stock.

Institutional Investors Weigh In On New Concept Energy

A hedge fund recently raised its stake in New Concept Energy stock. PFG Investments LLC raised its holdings in shares of New Concept Energy, Inc. (NYSE:GBR) by 69.2% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 152,600 shares of the company’s stock after purchasing an additional 62,400 shares during the quarter. PFG Investments LLC owned approximately 2.97% of New Concept Energy worth $244,000 at the end of the most recent reporting period.

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.