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

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

New Concept Energy Stock Down 0.3 %

Shares of NYSE:GBR opened at $1.17 on Friday. New Concept Energy has a 12-month low of $0.96 and a 12-month high of $1.82. The company’s 50 day moving average price is $1.18 and its two-hundred day moving average price is $1.31. The firm has a market cap of $5.98 million, a PE ratio of -38.87 and a beta of 0.29.

Institutional Inflows and Outflows

An institutional investor recently raised its position in New Concept Energy stock. PFG Investments LLC grew its holdings in New Concept Energy, Inc. (NYSE:GBR) by 69.2% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund 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 SEC filing.

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.