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

StockNews.com started coverage on shares of New Concept Energy (NYSE:GBR) in a research report released on Wednesday. The firm issued a sell rating on the stock.

New Concept Energy Trading Down 0.6 %

New Concept Energy stock opened at $1.20 on Wednesday. New Concept Energy has a 12 month low of $0.95 and a 12 month high of $1.82. The stock has a fifty day simple moving average of $1.25 and a two-hundred day simple moving average of $1.35. The firm has a market cap of $6.16 million, a price-to-earnings ratio of -40.00 and a beta of 0.30.

New Concept Energy (NYSE:GBR) last released its quarterly earnings data on Tuesday, August 13th. The company reported $0.01 EPS 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%.

Insider Buying and Selling

In other news, major shareholder Realty Advisors Inc sold 250,000 shares of the stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $1.30, for a total transaction of $325,000.00. Following the transaction, the insider now directly owns 1,144,934 shares of the company’s stock, valued at $1,488,414.20. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 2.10% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On New Concept Energy

A hedge fund recently raised its stake in New Concept Energy stock. PFG Investments LLC boosted its holdings in shares of New Concept Energy, Inc. (NYSE:GBR) by 69.2% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 152,600 shares of the company’s stock after buying 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 quarter.

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.