StockNews.com assumed coverage on shares of New Concept Energy (NYSE:GBR – Free Report) in a research note released on Wednesday. The firm issued a sell rating on the stock.
New Concept Energy Stock Performance
Shares of GBR stock opened at $1.17 on Wednesday. The business’s fifty day moving average is $1.19 and its 200 day moving average is $1.34. New Concept Energy has a 52-week low of $0.95 and a 52-week high of $1.82.
Institutional Inflows and Outflows
A hedge fund recently raised its stake in New Concept Energy stock. PFG Investments LLC lifted its position in New Concept Energy, Inc. (NYSE:GBR – Free Report) by 69.2% in the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor 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 SEC filing.
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.
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