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

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

New Concept Energy Price Performance

Shares of New Concept Energy stock opened at $1.15 on Tuesday. The business has a fifty day simple moving average of $1.20 and a two-hundred day simple moving average of $1.34. New Concept Energy has a 1 year low of $0.95 and a 1 year high of $1.82. The company has a market capitalization of $5.91 million, a price-to-earnings ratio of -38.40 and a beta of 0.29.

Institutional Investors Weigh In On New Concept Energy

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

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.