New Concept Energy (NYSE:GBR) Research Coverage Started at StockNews.com

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

New Concept Energy Trading Up 1.7 %

New Concept Energy stock opened at $1.18 on Friday. New Concept Energy has a 12-month low of $0.96 and a 12-month high of $1.82. The firm has a market capitalization of $6.05 million, a PE ratio of -39.34 and a beta of 0.33. The firm has a 50-day moving average price of $1.17 and a 200-day moving average price of $1.30.

Hedge Funds Weigh In On New Concept Energy

A hedge fund recently raised its stake in New Concept Energy stock. PFG Investments LLC boosted its stake in shares of New Concept Energy, Inc. (NYSE:GBR) by 69.2% in the second quarter, according to its most recent disclosure with the SEC. 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 about 2.97% of New Concept Energy worth $244,000 at the end of the most recent quarter.

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.