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

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

New Concept Energy Stock Performance

Shares of NYSE GBR opened at $1.15 on Monday. New Concept Energy has a 1 year low of $0.95 and a 1 year high of $1.82. The firm’s 50 day moving average price is $1.30 and its 200 day moving average price is $1.34. The firm 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 results on Tuesday, August 13th. The company reported $0.01 earnings per share for the quarter. The company had revenue of $0.04 million for the quarter. New Concept Energy had a negative net margin of 18.62% and a negative return on equity of 0.59%.

Insider Transactions at New Concept Energy

In other news, major shareholder Realty Advisors Inc sold 250,000 shares of the business’s 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 sale, the insider now owns 1,144,934 shares of the company’s stock, valued at approximately $1,488,414.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 2.10% of the company’s stock.

Institutional Inflows and Outflows

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

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.